First Trust Long/Short Equity ETF (FTLS) Straddle

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

A long straddle on FTLS 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 Long/Short Equity 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 FTLS straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Fund's investment objective is to seek to provide investors with long term total return. The Fund intends to pursue its investment objective by establishing long and short positions in a portfolio of Equity Securities.

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