Trading a SPY straddle lets you take a pure volatility position on SPDR S&P 500 ETF Trust without committing to a direction. SPDR S&P 500 ETF Trust'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 SPY straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on SPY 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 SPDR S&P 500 ETF Trust 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 SPY straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The State Street SPDR S&P 500 ETF Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index (the “Index”)The S&P 500 Index is a diversified large cap U.S. index that holds companies across all eleven GICS sectorsLaunched in January 1993, SPY was the very first exchange traded fund listed in the United States
Earnings, product cycles, macro prints — any time volatility itself is the trade, the SPY straddle is the cleanest expression of that view. Our scanner prices every SPY 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 SPY straddle into a catalyst or short a SPY straddle to harvest decay, the options straddle setups that matter are all in one place.
