Trading a PWRD straddle lets you take a pure volatility position on TCW Transform Systems ETF without committing to a direction. TCW Transform Systems 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 PWRD straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on PWRD 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 TCW Transform Systems 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 PWRD straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
PWRD is a concentrated stock portfolio of companies perceived to drive and benefit from the energy transition to net zero carbon emissions. Using a proprietary framework, the fund screens the broad US equity market to select companies with a strategy to reduce or enable decarbonization at scale. Selection combines a top-down analysis of the economy with a bottom-up, industry-by-industry, and company-by-company assessment. The adviser does not use sustainability ratings or rankings to exclude companies or sectors. As a result, the portfolio may focus on the most carbon-intensive industries in order for the adviser to drive change through its proxy voting guidelines.
Such guidelines encourage companies to invest in their employees, communities, customers, and the environment. The adviser has discretion to target specific investment opportunities. Prior to October 13, 2023, the fund was called the Engine No. 1 Transform Climate ETF. Prior to Feb. 3, 2025, the fund had a ticker of NETZ.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the PWRD straddle is the cleanest expression of that view. Our scanner prices every PWRD 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 PWRD straddle into a catalyst or short a PWRD straddle to harvest decay, the options straddle setups that matter are all in one place.
