iHeartMedia Inc (IHRT) Straddle

Trading a IHRT straddle lets you take a pure volatility position on iHeartMedia Inc without committing to a direction. iHeartMedia Inc'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 IHRT straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on IHRT 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 iHeartMedia Inc 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 IHRT straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

iHeartMedia, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates. It also delivers real-time traffic flow and incident information, and weather updates, sports, and news through approximately 2,100 radio stations and 170 television affiliates, and Internet and mobile partnerships.

As of December 31, 2021, this segment owned 863 radio stations, which included 249 AM and 614 FM radio stations. The Digital Audio Group segment provides podcasting, digital sites, newsletters, digital services, and programs; and iHeartRadio, a mobile app and web-based service for radio stations, digital-only stations, custom artist stations, and podcasts. The Audio and Media Services Group segment engages in the media representation business. This segment also provides cloud and on-premises broadcast software, such as radio and television automation, music scheduling, newsroom automation, advertising sales management, disaster recovery solutions; and real-time audio recognition technology to approximately 10,000 radio and television stations, cable channels, record labels, advertisers, and agencies, as well as media streaming and research services. The company was formerly known as CC Media Holdings, Inc. and changed its name to iHeartMedia, Inc. in September 2014. iHeartMedia, Inc. is headquartered in San Antonio, Texas.

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