Trading a PFIX straddle lets you take a pure volatility position on Simplify Interest Rate Hedge ETF without committing to a direction. Simplify Interest Rate Hedge 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 PFIX straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on PFIX 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 Simplify Interest Rate Hedge 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 PFIX straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The Simplify Interest Rate Hedge ETF (PFIX) seeks to hedge interest rate movements arising from rising long-term interest rates and to benefit from market stress when fixed income volatility increases. The fund holds a large position in over-the-counter (OTC) interest rate options intended to provide a direct and transparent convex exposure to large upward moves in interest rates and interest rate volatility. Using OTC derivatives, usually only available to institutional investors, PFIX is designed to be functionally similar to owning a position in long-dated put options on 20-year US Treasury bonds.
Since the option position is held for an extended period, the ETF provides a simple and transparent interest rate hedge.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the PFIX straddle is the cleanest expression of that view. Our scanner prices every PFIX 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 PFIX straddle into a catalyst or short a PFIX straddle to harvest decay, the options straddle setups that matter are all in one place.
