Trading a TNA straddle lets you take a pure volatility position on Direxion Small Cap Bull 3X ETF without committing to a direction. Direxion Small Cap Bull 3X 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 TNA straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on TNA 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 Direxion Small Cap Bull 3X 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 TNA straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The Direxion Daily Small Cap Bull and Bear 3X ETFs seek the daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Russell 2000 Index. There is no guarantee the funds will achieve their stated investment objectives.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the TNA straddle is the cleanest expression of that view. Our scanner prices every TNA 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 TNA straddle into a catalyst or short a TNA straddle to harvest decay, the options straddle setups that matter are all in one place.
