CLPT Straddle Strategy

CLPT (ClearPoint Neuro, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

ClearPoint Neuro, Inc. is a medical technology firm primarily operating within the United States. The company specializes in developing and commercializing sophisticated systems that facilitate minimally invasive brain surgeries, guided by real-time magnetic resonance imaging (MRI) during the procedure. Among its core offerings is the ClearPoint system, designed for the precise placement of deep brain stimulation electrodes, biopsy needles, and for the controlled infusion of medications and laser catheters directly into the brain. It also provides the ClearPoint Neuro Navigation System, which is specifically engineered for MRI suite environments. ClearPoint Neuro maintains strategic partnerships and licensing agreements with prominent institutions and companies, including Boston Scientific Corporation, The Johns Hopkins University, Clinical Laserthermia Systems Americas Inc, Koninklijke Philips N.V., Blackrock Neurotech, and the University of California, San Francisco. Initially established in 1998 and headquartered in Solana Beach, California, the company operated as MRI Interventions, Inc. before rebranding to ClearPoint Neuro, Inc. in February 2020.

CLPT (ClearPoint Neuro, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $455.2M, a beta of 1.24 versus the broader market, a 52-week range of 8.27-30.1, average daily share volume of 684K, a public-listing history dating back to 2012, approximately 172 full-time employees. These structural characteristics shape how CLPT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.24 places CLPT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a straddle on CLPT?

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.

CLPT snapshot

As of August 14, 2026, spot at $15.34, ATM IV 89.60%, IV rank 13.92%, expected move 25.69%. The straddle on CLPT below is built from the 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 CLPT specifically: CLPT IV at 89.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a CLPT straddle, with a market-implied 1-standard-deviation move of approximately 25.69% (roughly $3.94 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 CLPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLPT should anchor to the underlying notional of $15.34 per share and to the trader's directional view on CLPT stock.

CLPT straddle setup

The CLPT 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 CLPT at $15.34 on that close, the first option leg uses a $15.34 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLPT 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 CLPT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$15.34	N/A
Buy 1	Put	$15.34	N/A

CLPT straddle risk and reward

Net Premium / Debit: N/A
Max Profit (per contract): Unbounded
Max Loss (per contract): Unbounded
Breakeven(s): None on modeled curve
Risk / Reward Ratio: N/A

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.

CLPT straddle payoff curve

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

When traders use straddle on CLPT

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

CLPT thesis for this straddle

The market-implied 1-standard-deviation range for CLPT extends from approximately $11.40 on the downside to $19.28 on the upside. A CLPT 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 CLPT IV rank near 13.92% 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 CLPT at 89.60%. As a Healthcare name, CLPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLPT-specific events.

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

Frequently asked questions

What is a straddle on CLPT?: A straddle on CLPT is the straddle strategy applied to CLPT (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 CLPT stock at $15.34 on the most recent close, the strikes shown on this page are snapped to the nearest listed CLPT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are CLPT 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 CLPT straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 89.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CLPT straddle?: The breakeven for the CLPT straddle priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 CLPT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 25.69%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on CLPT?: Straddles on CLPT are pure-volatility plays that profit from large moves in either direction; traders typically buy CLPT 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 CLPT implied volatility affect this straddle?: CLPT ATM IV is at 89.60% with IV rank near 13.92%, 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.