Penumbra Inc (PEN) Straddle

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

A long straddle on PEN 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 Penumbra Inc 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 PEN straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

It also provides neurosurgical aspiration tools for the removal of tissue and fluids under the Artemis Neuro Evacuation Device brand; aspiration-based thrombectomy systems for vascular applications under the Indigo System brand; and detachable embolic coil systems for peripheral embolization under the Ruby Coil and Ruby LP brand names. In addition, the company offers microcatheter for the delivery of detachable coils and occlusion devices under the LANTERN brand; and detachable, microcatheter-deliverable occlusion devices designed primarily to occlude peripheral vessels under the POD (Penumbra Occlusion Device) brand, as well as immersive computer-based technologies and immersive therapeutics to promote health, motor function, and cognition under the Real Immersive System brand; and a complementary device for use with Ruby Coil and POD for vessel occlusion under the Packing Coil and Packing Coil LP brands. The company sells its products through direct sales organizations and distributors. Penumbra, Inc. was incorporated in 2004 and is headquartered in Alameda, California.

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