Trading a XPND straddle lets you take a pure volatility position on First Trust Expanded Technology ETF without committing to a direction. First Trust Expanded Technology 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 XPND straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on XPND 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 First Trust Expanded Technology 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 XPND straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
The First Trust Expanded Technology ETF (the "Fund") seeks to provide long-term capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies identified by the Fund's investment advisor as either information technology companies or financial companies and communication services companies whose operations are principally derived from and/or dependent upon technology (such companies are collectively referred to herein as "Expanded Technology Companies"). While the Fund is actively managed, the investment advisor intends to utilize a quantitative model to help identify Expanded Technology Companies with attractive long-term capital appreciation potential.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the XPND straddle is the cleanest expression of that view. Our scanner prices every XPND 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 XPND straddle into a catalyst or short a XPND straddle to harvest decay, the options straddle setups that matter are all in one place.
