Trading a PENN straddle lets you take a pure volatility position on PENN Entertainment Inc without committing to a direction. PENN Entertainment 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 PENN straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on PENN 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 PENN Entertainment 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 PENN straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc.
was founded in 1972 and is based in Wyomissing, Pennsylvania.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the PENN straddle is the cleanest expression of that view. Our scanner prices every PENN 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 PENN straddle into a catalyst or short a PENN straddle to harvest decay, the options straddle setups that matter are all in one place.
