Trading a NOWL straddle lets you take a pure volatility position on GraniteShares 2x Long NOW Daily ETF without committing to a direction. GraniteShares 2x Long NOW Daily 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 NOWL straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on NOWL 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 GraniteShares 2x Long NOW Daily 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 NOWL straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The Fund strives to provide daily investment outcomes, before accounting for fees and expenses, that are two times (200%) the daily percentage fluctuation of ServiceNow Inc.'s common stock, listed under NASDAQ: NOW. It is not guaranteed that the Fund will fulfill its stated purpose. Moreover, the fund is not designed to offer a cumulative return that is double the performance of NOW for durations longer than a single day.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the NOWL straddle is the cleanest expression of that view. Our scanner prices every NOWL 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 NOWL straddle into a catalyst or short a NOWL straddle to harvest decay, the options straddle setups that matter are all in one place.
