Old National Bancorp (ONB) Straddle

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

A long straddle on ONB 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 Old National Bancorp 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 ONB straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking services; wealth management, investment, and foreign currency services; and treasury management, merchant, health savings, and capital markets services, as well as community development lending and equity investment solutions.

As of December 31, 2021, it operated a total of 162 banking centers located primarily in the states of Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.

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