How are CCJ 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 CCJ straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 53.56%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,241.39 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CCJ straddle?

The breakeven for the CCJ straddle priced on this page is roughly $95.35 and $120.65 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 CCJ market-implied 1-standard-deviation expected move is approximately 15.36%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CCJ implied volatility affect this straddle?

CCJ ATM IV is at 53.56% with IV rank near 56.96%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

CCJ Straddle Strategy

CCJ (Cameco Corporation), in the Energy sector, (Uranium industry), listed on NYSE.

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles or reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia.

CCJ (Cameco Corporation) trades in the Energy sector, specifically Uranium, with a market capitalization of approximately $50.25B, a trailing P/E of 105.96, a beta of 1.03 versus the broader market, a 52-week range of 50.03-135.24, average daily share volume of 3.4M, a public-listing history dating back to 1996, approximately 730 full-time employees. These structural characteristics shape how CCJ stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.03 places CCJ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 105.96 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. CCJ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on CCJ?

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 CCJ snapshot

As of May 15, 2026, spot at $107.69, ATM IV 53.56%, IV rank 56.96%, expected move 15.36%. The straddle on CCJ 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 28-day expiry.

Why this straddle structure on CCJ specifically: CCJ IV at 53.56% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 15.36% (roughly $16.54 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CCJ expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCJ should anchor to the underlying notional of $107.69 per share and to the trader's directional view on CCJ stock.

CCJ straddle setup

The CCJ 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 CCJ near $107.69, the first option leg uses a $108.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCJ chain at a 28-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 CCJ shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$108.00	$6.45
Buy 1	Put	$108.00	$6.20

CCJ straddle risk and reward

Net Premium / Debit: -$1,265.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$1,241.39
Breakeven(s): $95.35, $120.65
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.

CCJ straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on CCJ. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	+$9,534.00
$23.82	-77.9%	+$7,153.03
$47.63	-55.8%	+$4,772.05
$71.44	-33.7%	+$2,391.08
$95.25	-11.6%	+$10.10
$119.06	+10.6%	-$159.13
$142.87	+32.7%	+$2,221.85
$166.68	+54.8%	+$4,602.82
$190.49	+76.9%	+$6,983.80
$214.30	+99.0%	+$9,364.77

When traders use straddle on CCJ

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

CCJ thesis for this straddle

The market-implied 1-standard-deviation range for CCJ extends from approximately $91.15 on the downside to $124.23 on the upside. A CCJ 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 CCJ IV rank near 56.96% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on CCJ should anchor more to the directional view and the expected-move geometry. As a Energy name, CCJ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCJ-specific events.

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

Frequently asked questions

What is a straddle on CCJ?: A straddle on CCJ is the straddle strategy applied to CCJ (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 CCJ stock trading near $107.69, the strikes shown on this page are snapped to the nearest listed CCJ chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CCJ 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 CCJ straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 53.56%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,241.39 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CCJ straddle?: The breakeven for the CCJ straddle priced on this page is roughly $95.35 and $120.65 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 CCJ market-implied 1-standard-deviation expected move is approximately 15.36%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on CCJ?: Straddles on CCJ are pure-volatility plays that profit from large moves in either direction; traders typically buy CCJ 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 CCJ implied volatility affect this straddle?: CCJ ATM IV is at 53.56% with IV rank near 56.96%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.