How are FIS 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 FIS straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 38.04%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$335.40 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FIS straddle?

The breakeven for the FIS straddle priced on this page is roughly $38.45 and $45.55 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 FIS market-implied 1-standard-deviation expected move is approximately 10.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FIS implied volatility affect this straddle?

FIS ATM IV is at 38.04% with IV rank near 54.06%, 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.

FIS Straddle Strategy

FIS (Fidelity National Information Services, Inc.), in the Technology sector, (Information Technology Services industry), listed on NYSE.

Fidelity National Information Services, Inc. provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions. The Banking Solutions segment provides core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail payment solutions; wealth and retirement solutions; and item processing and output services. The Capital Market Solutions segment offers securities processing and finance, global trading, asset management and insurance, and corporate liquidity solutions. Fidelity National Information Services, Inc. was founded in 1968 and is headquartered in Jacksonville, Florida.

FIS (Fidelity National Information Services, Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $22.02B, a trailing P/E of 8.21, a beta of 0.83 versus the broader market, a 52-week range of 41.64-82.74, average daily share volume of 7.3M, a public-listing history dating back to 2001, approximately 50K full-time employees. These structural characteristics shape how FIS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.83 places FIS roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 8.21 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. FIS pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on FIS?

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 FIS snapshot

As of May 15, 2026, spot at $41.59, ATM IV 38.04%, IV rank 54.06%, expected move 10.91%. The straddle on FIS 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 FIS specifically: FIS IV at 38.04% 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 10.91% (roughly $4.54 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 FIS expiries trade a higher absolute premium for lower per-day decay. Position sizing on FIS should anchor to the underlying notional of $41.59 per share and to the trader's directional view on FIS stock.

FIS straddle setup

The FIS 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 FIS near $41.59, the first option leg uses a $42.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FIS 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 FIS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$42.00	$1.43
Buy 1	Put	$42.00	$2.13

FIS straddle risk and reward

Net Premium / Debit: -$355.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$335.40
Breakeven(s): $38.45, $45.55
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.

FIS straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on FIS. 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%	+$3,844.00
$9.20	-77.9%	+$2,924.53
$18.40	-55.8%	+$2,005.07
$27.59	-33.7%	+$1,085.60
$36.79	-11.5%	+$166.13
$45.98	+10.6%	+$43.34
$55.18	+32.7%	+$962.80
$64.37	+54.8%	+$1,882.27
$73.57	+76.9%	+$2,801.74
$82.76	+99.0%	+$3,721.21

When traders use straddle on FIS

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

FIS thesis for this straddle

The market-implied 1-standard-deviation range for FIS extends from approximately $37.05 on the downside to $46.13 on the upside. A FIS 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 FIS IV rank near 54.06% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on FIS should anchor more to the directional view and the expected-move geometry. As a Technology name, FIS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FIS-specific events.

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

Frequently asked questions

What is a straddle on FIS?: A straddle on FIS is the straddle strategy applied to FIS (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 FIS stock trading near $41.59, the strikes shown on this page are snapped to the nearest listed FIS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FIS 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 FIS straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 38.04%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$335.40 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FIS straddle?: The breakeven for the FIS straddle priced on this page is roughly $38.45 and $45.55 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 FIS market-implied 1-standard-deviation expected move is approximately 10.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on FIS?: Straddles on FIS are pure-volatility plays that profit from large moves in either direction; traders typically buy FIS 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 FIS implied volatility affect this straddle?: FIS ATM IV is at 38.04% with IV rank near 54.06%, 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.