Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) Straddle

Trading a PDN straddle lets you take a pure volatility position on Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF without committing to a direction. Invesco RAFI Developed Markets ex-U.S. Small-Mid 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 PDN straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on PDN 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 Invesco RAFI Developed Markets ex-U.S. Small-Mid 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 PDN straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (Fund) is based on the RAFI Fundamental Select Developed ex US 1500 Index (Index). The Fund will generally invest at least 90% of its total assets in securities that comprise the Index as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) that represent securities in the Index. The Index is designed to track the performance of small and mid-capitalization equities of companies in developed international markets (excluding the US), selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends.

The equities are based on their fundamental strength and are weighted according to their fundamental scores. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are reconstituted annually.Effective close of business March 21, 2025, FTSE RAFI Developed ex U.S. Mid-Small 1500 Index ("Current Underlying Index") will change to the RAFI Fundamental Select Developed ex-US 1500 Index ("New Underlying Index"). The New Underlying Index will replace the Fund’s Current Underlying Index. The Fund’s name will change to “Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF”. Additionally, the Fund's management fee will reduce to 47 bps.

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