First Trust Short Duration Managed Municipal ETF (FSMB) Straddle

Trading a FSMB straddle lets you take a pure volatility position on First Trust Short Duration Managed Municipal ETF without committing to a direction. First Trust Short Duration Managed Municipal 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 FSMB straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on FSMB 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 Short Duration Managed Municipal 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 FSMB straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The First Trust Short Duration Managed Municipal ETF seeks to provide federally tax-exempt income consistent with capital preservation. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes.

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