First Trust Nasdaq BuyWrite Income ETF (FTQI) Straddle

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

A long straddle on FTQI 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 Nasdaq BuyWrite 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 FTQI 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 provide current income. The Fund will pursue its investment objective by investing primarily in equity securities listed on U.S. exchanges and by utilizing an "option strategy" consisting of writing (selling) U.S. exchange-traded covered call options on the Nasdaq-100 Index. The Fund will employ an option strategy in which it will write U.S. exchange-traded covered call options on the Nasdaq-100 Index in order to seek additional cash flow in the form of premiums on the options. A premium is the income received by an investor who sells an option contract to another party and may be distributed to shareholders on a monthly basis.

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