Trading a UMDD straddle lets you take a pure volatility position on ProShares UltraPro MidCap400 3x Shares without committing to a direction. ProShares UltraPro MidCap400 3x Shares'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 UMDD straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on UMDD 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 ProShares UltraPro MidCap400 3x Shares 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 UMDD straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
ProShares UltraPro MidCap400 seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the S&P MidCap 400.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the UMDD straddle is the cleanest expression of that view. Our scanner prices every UMDD 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 UMDD straddle into a catalyst or short a UMDD straddle to harvest decay, the options straddle setups that matter are all in one place.
