Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) Straddle

Trading a DWAS straddle lets you take a pure volatility position on Invesco Dorsey Wright SmallCap Momentum ETF without committing to a direction. Invesco Dorsey Wright SmallCap Momentum 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 DWAS straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on DWAS 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 Invesco Dorsey Wright SmallCap Momentum 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 DWAS straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Invesco Dorsey Wright SmallCap Momentum ETF (Fund) is based on the Dorsey Wright SmallCap Technical Leaders Index (Index). The Fund will normally invest at least 90% of its total assets in equity securities of small capitalization companies that comprise the Index. The Index includes securities pursuant to a Dorsey, Wright & Associates, LLC proprietary selection methodology that is designed to identify companies that demonstrate powerful relative strength characteristics based on that company’s market performance. Approximately 200 companies are selected for inclusion in the Index from the NASDAQ US Benchmark Index.

Earnings, product cycles, macro prints — any time volatility itself is the trade, the DWAS straddle is the cleanest expression of that view. Our scanner prices every DWAS 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 DWAS straddle into a catalyst or short a DWAS straddle to harvest decay, the options straddle setups that matter are all in one place.