Tortoise North American Pipeline ETF (TPYP) Straddle

Trading a TPYP straddle lets you take a pure volatility position on Tortoise North American Pipeline ETF without committing to a direction. Tortoise North American Pipeline 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 TPYP straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on TPYP 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 Tortoise North American Pipeline 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 TPYP straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The fund will normally invest at least 80% of its total assets in securities that comprise the underlying index (or depository receipts based on such securities). The underlying index is a proprietary rules-based, capitalization weighted, float adjusted index designed to track the overall performance of equity securities of North American Pipeline Companies. The fund is non-diversified.

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