Trading a WES straddle lets you take a pure volatility position on Western Midstream Partners LP without committing to a direction. Western Midstream Partners LP'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 WES straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on WES 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 Western Midstream Partners LP 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 WES straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water. It also buys and sells natural gas, NGLs, and condensate. The company operates assets located in Texas, New Mexico, the Rocky Mountains, and North-central Pennsylvania. Western Midstream Holdings, LLC operates as the general partner of the company.
The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the WES straddle is the cleanest expression of that view. Our scanner prices every WES 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 WES straddle into a catalyst or short a WES straddle to harvest decay, the options straddle setups that matter are all in one place.
