Martin Midstream Partners LP (MMLP) Straddle

Trading a MMLP straddle lets you take a pure volatility position on Martin Midstream Partners LP without committing to a direction. Martin Midstream Partners LP'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 MMLP straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on MMLP 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 Martin Midstream Partners LP 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 MMLP straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products. This segment also offers land rental services to oil and gas companies, as well as storage and handling services for lubricants and fuels.

Its Transportation segment operates a fleet of 570 tank trucks and 1,200 trailers; and 29 inland marine tank barges, 14 inland push boats, and 1 articulated offshore tug and barge unit to transport petroleum products and by-products, petrochemicals, and chemicals. The company's Sulfur Services segment processes molten sulfur into prilled or pelletized sulfur, which is used in the production of fertilizers and industrial chemicals. Its Natural Gas Liquids segment stores, distributes, and transports natural gas liquids for wholesale deliveries to refineries, industrial NGL users, and propane retailers, as well as owns approximately 2.1 million barrels of underground storage capacity for NGLs. Martin Midstream GP LLC serves as a general partner of the company. Martin Midstream Partners L.P. was incorporated in 2002 and is based in Kilgore, Texas.

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