Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) Straddle

Trading a TPAY straddle lets you take a pure volatility position on Roundhill S&P 500 Target 10 Managed Distribution ETF without committing to a direction. Roundhill S&P 500 Target 10 Managed Distribution 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 TPAY straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on TPAY 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 Roundhill S&P 500 Target 10 Managed Distribution 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 TPAY straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The Roundhill S&P 500 Target 10 Managed Distribution ETF (“TPAY”) is designed to pay monthly return of capital distributions to shareholders at an annualized rate of ten percent, while providing exposure to the S&P 500. TPAY is an actively-managed ETF.

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