Straddle Calculator
A straddle is a call and a put at the same strike and expiry—long for a volatility spike, short for range-bound price action (with very different risk profiles).
Straddle Configuration
Option Premiums
Trade Summary
Enter option details to see payoff diagram
Total Premium
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Strike Price
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Lower Breakeven
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Upper Breakeven
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Commonly asked Straddle questions
What is a long straddle?
Buy an ATM (or chosen) call and put with the same strike and expiry. You typically need a large move to overcome the combined premium.
What is a short straddle?
Sell both legs to collect premium; profit if the underlying stays near the strike, but losses can grow quickly on big moves.
Where are breakevens?
Roughly strike ± total per-share premium (calls + puts) for a long straddle at expiry—verify on your broker graph.
Why trade straddles around events?
Earnings and catalysts can spike implied vol before the event and crush it after—timing entry and exit matters.
Straddle vs strangle?
Strangle uses different OTM strikes (often cheaper debit, wider breakevens); straddle uses one strike.
Short straddle risks?
Assignment, gamma, and tail risk—many traders size small and use defensive rolls or spreads.
Related Calculators
Daily Cumulative P&L
$33,989.51+$32,609.07
Avg Trade: $60.80
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Best Performing
Morning Breakouts
82% Win Rate
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