Trading a CRC straddle lets you take a pure volatility position on California Resources Corp without committing to a direction. California Resources Corp'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 CRC straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on CRC 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 California Resources Corp 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 CRC straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities. As of December 31, 2021, it had interests in approximately 1.9 million net mineral acres with proved reserves totaled an estimated 480 million barrels of oil equivalent. The company also engages in the generation and sale of electricity to the local utility and the grid. The company was incorporated in 2014 and is based in Santa Clarita, California.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the CRC straddle is the cleanest expression of that view. Our scanner prices every CRC 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 CRC straddle into a catalyst or short a CRC straddle to harvest decay, the options straddle setups that matter are all in one place.
