First Trust Smith Opportunistic Fixed Income ETF (FIXD) Straddle

Trading a FIXD straddle lets you take a pure volatility position on First Trust Smith Opportunistic Fixed Income ETF without committing to a direction. First Trust Smith Opportunistic Fixed Income 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 FIXD straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on FIXD 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 First Trust Smith Opportunistic Fixed Income 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 FIXD straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The investment objective of the First Trust Smith Opportunistic Fixed Income ETF (the "Fund") is to seek to maximize long-term total return. Under normal market conditions, the Fund pursues its objective by investing at least 80% of its net assets (including investment borrowings) in fixed income securities.

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