BlackRock TCP Capital Corp (TCPC) Straddle

Trading a TCPC straddle lets you take a pure volatility position on BlackRock TCP Capital Corp without committing to a direction. BlackRock TCP Capital Corp'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 TCPC straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on TCPC 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 BlackRock TCP Capital Corp 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 TCPC straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.

It seeks to invest in the United States. The fund typically invests between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million including complex situations. It prefers to make equity investments in companies for an ownership stake.

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