Westlake Chemical Partners LP (WLKP) Straddle

Trading a WLKP straddle lets you take a pure volatility position on Westlake Chemical Partners LP without committing to a direction. Westlake Chemical 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 WLKP straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on WLKP 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 Westlake Chemical 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 WLKP straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis. Westlake Chemical Partners GP LLC serves as the general partner of the company. The company was incorporated in 2014 and is headquartered in Houston, Texas.

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