Trading a ELIL straddle lets you take a pure volatility position on Direxion Daily LLY Bull 2X ETF without committing to a direction. Direxion Daily LLY Bull 2X 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 ELIL straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on ELIL 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 Direxion Daily LLY Bull 2X 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 ELIL straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The Direxion Daily LLY Bull 2X ETF and Direxion Daily LLY Bear 1X ETF seek daily investment results, before fees and expenses, of 200% and 100% of the inverse (or opposite), respectively, of the performance of the common shares of Eli Lilly and Company (NYSE: LLY).
Earnings, product cycles, macro prints — any time volatility itself is the trade, the ELIL straddle is the cleanest expression of that view. Our scanner prices every ELIL 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 ELIL straddle into a catalyst or short a ELIL straddle to harvest decay, the options straddle setups that matter are all in one place.
