Invesco High Yield Equity Dividend Achievers ETF (PEY) Straddle

Trading a PEY straddle lets you take a pure volatility position on Invesco High Yield Equity Dividend Achievers ETF without committing to a direction. Invesco High Yield Equity Dividend Achievers 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 PEY straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on PEY 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 High Yield Equity Dividend Achievers 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 PEY straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Invesco High Yield Equity Dividend Achievers ETF (Fund) is based on the NASDAQ US Dividend Achievers 50 Index (Index). The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Fund and the Index are reconstituted annually in March and rebalanced quarterly in March, June, September and December.

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