The SPAC and New Issue ETF (SPCK) Straddle

Trading a SPCK straddle lets you take a pure volatility position on The SPAC and New Issue ETF without committing to a direction. The SPAC and New Issue 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 SPCK straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on SPCK 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 The SPAC and New Issue 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 SPCK straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

SPCX is the first actively managed Special Purpose Acquisitions Corporations (SPACs) ETF in the market. The fund seeks capital appreciation by holding a broad portfolio of SPACs or blank check companies and firms that have completed their initial public offering (IPO) within the last two years. SPACs are companies that have no commercial operations or specific business plans and are formed to merge or acquire other businesses. The adviser uses fundamental analysis to identify favorable opportunities and to assess a companys management and business model. Additionally, the fund may invest in depositary receipts and may hold up to 20% of its assets in cash or other short-term debt securities.

Due to frequent trading, SPCX may have a high portfolio turnover rate, which potentially leads to higher trading costs and capital gains distributions. Prior to August 5, 2022, the fund traded under the name The SPAC and New Issue ETF.

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