How are AMYY straddle max profit and max loss calculated?

Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit. For the AMYY straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 83.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$263.99 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMYY straddle?

The breakeven for the AMYY straddle priced on this page is roughly $13.35 and $18.65 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current AMYY market-implied 1-standard-deviation expected move is approximately 23.97%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMYY implied volatility affect this straddle?

AMYY ATM IV is at 83.60% with IV rank near 16.98%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

AMYY Straddle Strategy

AMYY (GraniteShares YieldBOOST AMD ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This fund's primary goal is to generate income equivalent to 200% (twice) that derived from selling options tied to Advanced Micro Devices (AMD). It achieves this not by directly trading options on AMD itself, but by selling options on a specific, leveraged exchange-traded fund (referred to as the "Underlying Leveraged ETF"). This particular ETF is designed to deliver 200% (twice) the daily performance of AMD. A secondary objective of the fund is to gain exposure to the performance of this Underlying Leveraged ETF, though potential investment gains are subject to a predefined ceiling. Furthermore, the fund has the option to implement measures for downside protection, which, if utilized, could affect the overall net income generated.

AMYY (GraniteShares YieldBOOST AMD ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $1.6M, a beta of 1.22 versus the broader market, a 52-week range of 15.08-26.53, average daily share volume of 22K, a public-listing history dating back to 2025. These structural characteristics shape how AMYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.22 places AMYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AMYY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on AMYY?

A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration.

Current AMYY snapshot

As of June 30, 2026, spot at $16.25, ATM IV 83.60%, IV rank 16.98%, expected move 23.97%. The straddle on AMYY below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.

Why this straddle structure on AMYY specifically: AMYY IV at 83.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a AMYY straddle, with a market-implied 1-standard-deviation move of approximately 23.97% (roughly $3.89 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMYY should anchor to the underlying notional of $16.25 per share and to the trader's directional view on AMYY etf.

AMYY straddle setup

The AMYY straddle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMYY near $16.25, the first option leg uses a $16.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMYY chain at a 17-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 AMYY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$16.00	$1.46
Buy 1	Put	$16.00	$1.19

AMYY straddle risk and reward

Net Premium / Debit: -$265.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$263.99
Breakeven(s): $13.35, $18.65
Risk / Reward Ratio: Unbounded

Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit.

AMYY straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on AMYY. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	+$1,334.00
$3.60	-77.8%	+$974.81
$7.19	-55.7%	+$615.63
$10.79	-33.6%	+$256.44
$14.38	-11.5%	-$102.74
$17.97	+10.6%	-$68.07
$21.56	+32.7%	+$291.12
$25.15	+54.8%	+$650.30
$28.74	+76.9%	+$1,009.49
$32.34	+99.0%	+$1,368.67

When traders use straddle on AMYY

Straddles on AMYY are pure-volatility plays that profit from large moves in either direction; traders typically buy AMYY straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.

AMYY thesis for this straddle

The market-implied 1-standard-deviation range for AMYY extends from approximately $12.36 on the downside to $20.14 on the upside. A AMYY long straddle is a pure-volatility play: it profits when the underlying moves far enough from the strike in either direction to overcome the combined call plus put debit, regardless of direction. Current AMYY IV rank near 16.98% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on AMYY at 83.60%. As a Financial Services name, AMYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMYY-specific events.

AMYY straddle positions are structurally neutral / high-volatility (long premium); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. AMYY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMYY alongside the broader basket even when AMYY-specific fundamentals are unchanged. Always rebuild the position from current AMYY chain quotes before placing a trade.

Frequently asked questions

What is a straddle on AMYY?: A straddle on AMYY is the straddle strategy applied to AMYY (etf). The strategy is structurally neutral / high-volatility (long premium): A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration. With AMYY etf trading near $16.25, the strikes shown on this page are snapped to the nearest listed AMYY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AMYY straddle max profit and max loss calculated?: Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit. For the AMYY straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 83.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$263.99 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMYY straddle?: The breakeven for the AMYY straddle priced on this page is roughly $13.35 and $18.65 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current AMYY market-implied 1-standard-deviation expected move is approximately 23.97%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on AMYY?: Straddles on AMYY are pure-volatility plays that profit from large moves in either direction; traders typically buy AMYY straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
How does current AMYY implied volatility affect this straddle?: AMYY ATM IV is at 83.60% with IV rank near 16.98%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.