Net Lease Office Properties (NLOP) Straddle

Trading a NLOP straddle lets you take a pure volatility position on Net Lease Office Properties without committing to a direction. Net Lease Office Properties'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 NLOP straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on NLOP 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 Net Lease Office Properties 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 NLOP straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 59 high-quality office properties, totaling approximately 8.7 million leasable square feet primarily leased to corporate tenants on a single-tenant net lease basis. The vast majority of the office properties owned by NLOP are located in the U.S., with the balance in Europe. The portfolio consists of 62 corporate tenants operating in a variety of industries, generating annualized based rent (ABR) of approximately $145 million. NLOP's business plan is to focus on realizing value for its shareholders primarily through strategic asset management and disposition of its property portfolio over time.

Given WPC's extensive knowledge of the portfolio, NLOP is externally managed and advised by wholly owned affiliates of WPC to successfully execute on its business strategy. Over the course of its 50-year history, WPC has developed significant expertise in the single-tenant office real estate sector, including the operation, leasing, acquisition and development of assets through many market cycles, and has a proven track record of execution.

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