Trading a CLIX straddle lets you take a pure volatility position on ProShares Long Online/Short Stores ETF without committing to a direction. ProShares Long Online/Short Stores ETF's straddle involves buying (or selling) a call and a put at the same strike and expiration, profiting when the stock moves more (or less) than the combined premium implies. Use our scanner to evaluate CLIX straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on CLIX profits from large moves in either direction and is a classic play into binary events like earnings, product announcements, or macro releases. A short straddle profits when ProShares Long Online/Short Stores ETF stays range-bound and implied volatility contracts. The breakeven points are simple: strike plus total premium on the upside, strike minus total premium on the downside. Comparing the CLIX straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index consists of long positions in the online retailers included in the ProShares Online Retail Index and short positions in the "bricks and mortar" retailers included in the Solactive-ProShares Bricks and Mortar Retail Store Index. The fund is non-diversified.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the CLIX straddle is the cleanest expression of that view. Our scanner prices every CLIX straddle against historical realized moves, flags expirations where the market is overpaying or underpaying for vol, and ranks setups by breakeven width and IV rank. Whether you're long a CLIX straddle into a catalyst or short a CLIX straddle to harvest decay, the options straddle setups that matter are all in one place.
