How are CPTL 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 CPTL straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 16.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$278.40 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CPTL straddle?

The breakeven for the CPTL straddle priced on this page is roughly $47.02 and $52.98 at expiration, derived from the August 14, 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 CPTL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CPTL implied volatility affect this straddle?

Current CPTL ATM IV is 16.90%; IV rank context is unavailable in the current snapshot.

CPTL Straddle Strategy

CPTL (Global X Conscious Companies ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

KRMA tracks an equal-weighted index that focuses on ESG factors as they relate to the five stakeholders of a company: customers, employees, suppliers, stock and debt holders, and communities in which the company operates. Specifically, the index uses a multitude of information resources, public rankings, and proprietary models to score and rank companies that exhibit positive ESG characteristics such as employee productivity, customer loyalty, corporate governance, executive integrity, and quality of financial reporting, among a number of other categories. The final step in the process screens out companies that havent exhibited these ESG characteristics for three consecutive years. Minimum capitalization for KRMA is USD 2 billion, effectively screening out many small caps. The fund makes no claims to sector constraints. The Index undergoes annual reconstitution in October and quarterly rebalance starting each in January.

CPTL (Global X Conscious Companies ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $120.2M, a beta of 1.01 versus the broader market, a 52-week range of 40.412-49.684, average daily share volume of 4K, a public-listing history dating back to 2016. These structural characteristics shape how CPTL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.01 places CPTL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CPTL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on CPTL?

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.

CPTL snapshot

As of August 14, 2026, spot at $49.55, ATM IV 16.90%, expected move 4.85%. The straddle on CPTL below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 98-day expiry.

Why this straddle structure on CPTL specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CPTL is inferred from ATM IV at 16.90% alone, with a market-implied 1-standard-deviation move of approximately 4.85% (roughly $2.40 on the underlying). The 98-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CPTL expiries trade a higher absolute premium for lower per-day decay. Position sizing on CPTL should anchor to the underlying notional of $49.55 per share and to the trader's directional view on CPTL stock.

CPTL straddle setup

The CPTL straddle below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CPTL at $49.55 on that close, the first option leg uses a $50.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CPTL chain at a 98-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 CPTL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$50.00	$1.50
Buy 1	Put	$50.00	$1.48

CPTL straddle risk and reward

Net Premium / Debit: -$298.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$278.40
Breakeven(s): $47.02, $52.98
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.

CPTL straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on CPTL. 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%	+$4,701.00
$10.96	-77.9%	+$3,605.53
$21.92	-55.8%	+$2,510.07
$32.87	-33.7%	+$1,414.60
$43.83	-11.5%	+$319.13
$54.78	+10.6%	+$180.34
$65.74	+32.7%	+$1,275.80
$76.69	+54.8%	+$2,371.27
$87.65	+76.9%	+$3,466.74
$98.60	+99.0%	+$4,562.21

When traders use straddle on CPTL

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

CPTL thesis for this straddle

The market-implied 1-standard-deviation range for CPTL extends from approximately $47.15 on the downside to $51.95 on the upside. A CPTL 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. As a Financial Services name, CPTL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CPTL-specific events.

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

Frequently asked questions

What is a straddle on CPTL?: A straddle on CPTL is the straddle strategy applied to CPTL (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 CPTL stock at $49.55 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CPTL chain strike and the premiums come straight from that session's bid/ask midpoint.
How are CPTL 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 CPTL straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 16.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$278.40 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CPTL straddle?: The breakeven for the CPTL straddle priced on this page is roughly $47.02 and $52.98 at expiration, derived from the August 14, 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 CPTL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on CPTL?: Straddles on CPTL are pure-volatility plays that profit from large moves in either direction; traders typically buy CPTL 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 CPTL implied volatility affect this straddle?: Current CPTL ATM IV is 16.90%; IV rank context is unavailable in the current snapshot.