ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV) Straddle

Trading a SMDV straddle lets you take a pure volatility position on ProShares S&P SmallCap 600 Dividend Aristocrats ETF without committing to a direction. ProShares S&P SmallCap 600 Dividend Aristocrats 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 SMDV straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on SMDV 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 ProShares S&P SmallCap 600 Dividend Aristocrats 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 SMDV straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Under normal circumstances, the fund will invest at least 80% of its total assets in component securities of the index. The index contains a minimum of 40 stocks, which are equally weighted, and no single sector is allowed to comprise more than 30% of the index weight.

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