Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) Straddle

Trading a PIE straddle lets you take a pure volatility position on Invesco Dorsey Wright Emerging Markets Momentum ETF without committing to a direction. Invesco Dorsey Wright Emerging Markets Momentum 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 PIE straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on PIE 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 Dorsey Wright Emerging Markets Momentum 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 PIE straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Invesco Dorsey Wright Emerging Markets Momentum ETF (Fund) is based on the Dorsey Wright Emerging Markets Technical Leaders Index (Index). The Fund will generally invest at least 90% of its total assets in securities of emerging economies within Dorsey Wright & Associates' classification definition, as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) based on securities in the Index. The Index includes approximately 100 companies from the Nasdaq Emerging Markets Index that possess powerful relative strength characteristics and are domiciled in emerging market countries including, but not limited to Brazil, Chile, China, India, Indonesia, Philippines, South Africa, Thailand and Turkey.

The Index excludes US companies listed on a US stock exchange. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced and reconstituted quarterly.Effective after the close of markets on Aug. 25, 2023, the Fund’s name will change from Invesco DWA Emerging Markets Momentum ETF to Invesco Dorsey Wright Emerging Markets Momentum ETF. No other changes were made to the Fund. See the prospectus for more information.

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