How are BETA 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 BETA straddle priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$455.02 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a BETA straddle?

The breakeven for the BETA straddle priced on this page is roughly $19.38 and $28.63 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The BETA market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current BETA implied volatility affect this straddle?

BETA ATM IV is at 76.60% with IV rank near 16.23%, 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.

BETA Straddle Strategy

BETA (BETA Technologies, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

BETA Technologies, Inc. is a U.S.-based company that specializes in the design, engineering, and production of innovative electric aircraft platforms and integrated propulsion systems for the aviation sector. Its comprehensive product portfolio encompasses various electric aerial vehicles, advanced electric propulsion units, charging infrastructure, and essential components. The company's electric aircraft offerings include the piloted ALIA-CTOL (CX300), which is designed for freight operations, and the adaptable ALIA VTOL (A250), a vertical takeoff and landing model suitable for cargo, logistics, medical missions, and passenger services. For military applications, BETA provides the ALIA Defense VTOL (MV250), tailored for defense logistics and larger aircraft support. Beyond complete aircraft, BETA produces specialized components such as the H500A and V600 motors, which find application in both aerospace and marine environments, alongside proprietary battery systems for its electric aircraft. Its charging solutions include the "charge cube," "thermal management system cube," and "mini cubes." The company also supplies ground support equipment and sophisticated flight control systems.

BETA (BETA Technologies, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $5.28B, a beta of 1.87 versus the broader market, a 52-week range of 13.43-32.8, average daily share volume of 2.3M, a public-listing history dating back to 2025, approximately 1K full-time employees. These structural characteristics shape how BETA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.87 indicates BETA has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a straddle on BETA?

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.

BETA snapshot

As of November 13, 2026, spot at $23.48, ATM IV 76.60%, IV rank 16.23%, expected move 21.96%. The straddle on BETA below is built from the November 13, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this straddle structure on BETA specifically: BETA IV at 76.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a BETA straddle, with a market-implied 1-standard-deviation move of approximately 21.96% (roughly $5.16 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BETA expiries trade a higher absolute premium for lower per-day decay. Position sizing on BETA should anchor to the underlying notional of $23.48 per share and to the trader's directional view on BETA stock.

BETA straddle setup

The BETA straddle below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With BETA at $23.48 on that close, the first option leg uses a $24.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BETA chain at a 35-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 BETA shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$24.00	$2.30
Buy 1	Put	$24.00	$2.33

BETA straddle risk and reward

Net Premium / Debit: -$462.50
Max Profit (per contract): Unbounded
Max Loss (per contract): -$455.02
Breakeven(s): $19.38, $28.63
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.

BETA straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on BETA. 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	-100.0%	+$1,936.50
$5.20	-77.9%	+$1,417.45
$10.39	-55.7%	+$898.41
$15.58	-33.6%	+$379.36
$20.77	-11.5%	-$139.68
$25.96	+10.6%	-$266.27
$31.15	+32.7%	+$252.77
$36.34	+54.8%	+$771.82
$41.53	+76.9%	+$1,290.86
$46.72	+99.0%	+$1,809.91

When traders use straddle on BETA

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

BETA thesis for this straddle

The market-implied 1-standard-deviation range for BETA extends from approximately $18.32 on the downside to $28.64 on the upside. A BETA 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 BETA IV rank near 16.23% 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 BETA at 76.60%. As a Industrials name, BETA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BETA-specific events.

BETA 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. BETA positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BETA alongside the broader basket even when BETA-specific fundamentals are unchanged. Always rebuild the position from current BETA chain quotes before placing a trade.

Frequently asked questions

What is a straddle on BETA?: A straddle on BETA is the straddle strategy applied to BETA (stock). 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 BETA stock at $23.48 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed BETA chain strike and the premiums come straight from that session's bid/ask midpoint.
How are BETA 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 BETA straddle priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$455.02 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a BETA straddle?: The breakeven for the BETA straddle priced on this page is roughly $19.38 and $28.63 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The BETA market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on BETA?: Straddles on BETA are pure-volatility plays that profit from large moves in either direction; traders typically buy BETA 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 BETA implied volatility affect this straddle?: BETA ATM IV is at 76.60% with IV rank near 16.23%, 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.