DFIS P&L Curve
Dimensional - International Small Cap ETF (DFIS) operates in the Financial Services sector, specifically the Asset Management - Global industry, with a market capitalization near $6.01B, listed on CBOE, carrying a beta of 1.02 to the broader market. This portfolio primarily invests in the stock of small companies based in developed countries outside the United States. public since 2022-03-24.
A profit/loss curve charts the theoretical gain or loss of an options position across a range of underlying prices. It helps traders visualize risk, identify breakeven points, and compare strategies before committing capital.
- Exchange
- CBOE
- Sector
- Financial Services
- Industry
- Asset Management - Global
- Market Cap
- $6.01B
- IPO Date
- 2022-03-24
- Beta
- 1.02
At the current $35.00 spot price with 16.3% ATM implied volatility and 17 days to the front expiration, an at-the-money long straddle carries an approximate combined premium near $0.98, producing breakevens at roughly $34.02 and $35.98. Market-implied 1-standard-deviation range extends from $33.36 to $36.64, which sets the relevant P&L evaluation window for most near-term strategies. Payoff diagrams should be rebuilt from the live options chain; the preceding values are illustrative and assume a single at-the-money straddle for reference.
Frequently asked DFIS pl curve questions
- What does a DFIS ATM straddle cost today?
- Using current DFIS pricing (16.3% ATM IV, 17-day front expiration, $35.00 spot), an at-the-money long straddle (long call + long put at the same strike) carries an approximate combined premium near $0.98 per spread. Breakevens land at roughly $35.98 on the upside and $34.02 on the downside. The estimate uses the Brenner-Subrahmanyam approximation for at-the-money options under Black-Scholes.
- How do I read an options P&L curve?
- An options P&L curve plots theoretical position value at expiration (or at any chosen evaluation date) against the underlying price. The X-axis is the underlying price scenario, the Y-axis is position dollar P&L. The shape of the curve tells you the strategy's directional sensitivity, breakeven points, maximum profit and loss levels, and where time decay or volatility shifts will be most impactful. Multi-leg structures combine the curves of the individual legs to produce composite payoff diagrams.
- What's the difference between a P&L curve and a payoff diagram?
- Strictly: a payoff diagram shows option value at expiration (no time premium left), while a P&L curve typically shows position value at any evaluation date (with remaining time premium). The expiration payoff diagram has kinks at the strikes; the early P&L curve is smooth. For directional-vega trades, the early P&L curve also responds to IV shifts that the expiration payoff diagram does not capture - which is why options traders often look at both views.
- Why are illustrative DFIS P&L numbers approximate?
- The numbers above use Black-Scholes assumptions (lognormal returns, constant volatility, no early exercise, no dividends). Real-world option prices reflect skew, term structure, jump risk, and (for US-style options) early exercise premium. Use the live options chain for actual quoted bid/ask prices when sizing trades; the values here illustrate magnitude only.