Trading a SAN straddle lets you take a pure volatility position on Banco Santander SA ADR without committing to a direction. Banco Santander SA ADR'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 SAN straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on SAN 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 Banco Santander SA ADR 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 SAN straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
Banco Santander, S.A. provides various retail and commercial banking products and services to individuals, small and medium-sized enterprises, and large companies worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, syndicated corporate loans, structured financing, cash management, export and agency finance, trade and working capital solutions, and corporate finance; and insurance products. The company also provides cash, asset, and wealth management; and private banking services. In addition, it is involved in the corporate banking; treasury, risk hedging, foreign trade, confirming, custody, and investment banking activities.
The company operates through a network of 9,879 branches. The company was formerly known as Banco Santander Central Hispano S.A. and changed its name to Banco Santander, S.A. in June 2007. Banco Santander, S.A. was founded in 1856 and is headquartered in Madrid, Spain.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the SAN straddle is the cleanest expression of that view. Our scanner prices every SAN 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 SAN straddle into a catalyst or short a SAN straddle to harvest decay, the options straddle setups that matter are all in one place.
