Trading a TSLX straddle lets you take a pure volatility position on Sixth Street Specialty Lending Inc without committing to a direction. Sixth Street Specialty Lending Inc'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 TSLX straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on TSLX 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 Sixth Street Specialty Lending Inc 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 TSLX straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
Sixth Street Specialty Lending, Inc. (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing. The fund invests in business services, software & technology, healthcare, energy, consumer & retail, manufacturing, industrials, royalty related businesses, education, and specialty finance.
It seeks to finance and lending to middle market companies principally located in the United States. The fund invests in companies with enterprise value between $50 million and $1 billion or more and EBITDA between $10 million and $250 million. The transaction size is between $15 million and $350 million. The fund invests across the spectrum of the capital structure and can arrange syndicated transactions of up to $500 million and hold sizeable positions within its credits.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the TSLX straddle is the cleanest expression of that view. Our scanner prices every TSLX 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 TSLX straddle into a catalyst or short a TSLX straddle to harvest decay, the options straddle setups that matter are all in one place.
