PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) Straddle

Trading a HYS straddle lets you take a pure volatility position on PIMCO 0-5 Year High Yield Corporate Bond Index ETF without committing to a direction. PIMCO 0-5 Year High Yield Corporate Bond Index 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 HYS straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on HYS 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 PIMCO 0-5 Year High Yield Corporate Bond Index 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 HYS straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Fund seeks to provide total return that closely corresponds, before fees and expenses, to the total return of The BofA Merrill Lynch 0-5 Year US High Yield Constrained IndexSM

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