ProShares On-Demand ETF (OND) Straddle

Trading a OND straddle lets you take a pure volatility position on ProShares On-Demand ETF without committing to a direction. ProShares On-Demand 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 OND straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on OND 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 ProShares On-Demand 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 OND straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The index includes companies whose principal business is the provision of platforms and services for on-demand access to lifestyle needs including digital media, egaming, fitness, food delivery, ridesharing, or virtual reality experiences, as determined by the index methodology. The fund adviser seeks to remain fully invested at all times in securities and/or financial instruments that provide exposure to the returns of the index without regard to market conditions, trends or direction. The fund is non-diversified.

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