Trading a EXR straddle lets you take a pure volatility position on Extra Space Storage Inc without committing to a direction. Extra Space Storage Inc'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 EXR straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on EXR 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 Extra Space Storage Inc 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 EXR straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the EXR straddle is the cleanest expression of that view. Our scanner prices every EXR 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 EXR straddle into a catalyst or short a EXR straddle to harvest decay, the options straddle setups that matter are all in one place.
