How are FULC 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 FULC straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 112.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$169.07 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FULC straddle?

The breakeven for the FULC straddle priced on this page is roughly $5.28 and $8.73 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 FULC market-implied 1-standard-deviation expected move is approximately 32.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FULC implied volatility affect this straddle?

FULC ATM IV is at 112.20% with IV rank near 14.93%, 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.

FULC Straddle Strategy

FULC (Fulcrum Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Fulcrum Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. The company is also discovering drug targets for the treatments of rare neuromuscular, muscular, central nervous system, and hematologic disorders, as well as cardiomyopathies and pulmonary diseases. Fulcrum Therapeutics, Inc. has research and discovery collaboration agreement with Acceleron Pharma Inc. to identify biological targets to modulate specific pathways associated with a targeted indication within the pulmonary disease space; and has a strategic collaboration and license agreement with MyoKardia, Inc. to discover, develop, and commercialize novel targeted therapies for the treatment of genetic cardiomyopathies. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.

FULC (Fulcrum Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $392.3M, a beta of 3.01 versus the broader market, a 52-week range of 5.65-15.74, average daily share volume of 1.1M, a public-listing history dating back to 2019, approximately 45 full-time employees. These structural characteristics shape how FULC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.01 indicates FULC 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 FULC?

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 FULC snapshot

As of May 14, 2026, spot at $7.14, ATM IV 112.20%, IV rank 14.93%, expected move 32.17%. The straddle on FULC 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 34-day expiry.

Why this straddle structure on FULC specifically: FULC IV at 112.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a FULC straddle, with a market-implied 1-standard-deviation move of approximately 32.17% (roughly $2.30 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FULC expiries trade a higher absolute premium for lower per-day decay. Position sizing on FULC should anchor to the underlying notional of $7.14 per share and to the trader's directional view on FULC stock.

FULC straddle setup

The FULC 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 FULC near $7.14, the first option leg uses a $7.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FULC chain at a 34-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 FULC shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$7.00	$0.73
Buy 1	Put	$7.00	$1.00

FULC straddle risk and reward

Net Premium / Debit: -$172.50
Max Profit (per contract): Unbounded
Max Loss (per contract): -$169.07
Breakeven(s): $5.28, $8.73
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.

FULC straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on FULC. 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	-99.9%	+$526.50
$1.59	-77.8%	+$368.74
$3.17	-55.7%	+$210.98
$4.74	-33.6%	+$53.22
$6.32	-11.5%	-$104.54
$7.90	+10.6%	-$82.71
$9.48	+32.7%	+$75.05
$11.05	+54.8%	+$232.81
$12.63	+76.9%	+$390.57
$14.21	+99.0%	+$548.33

When traders use straddle on FULC

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

FULC thesis for this straddle

The market-implied 1-standard-deviation range for FULC extends from approximately $4.84 on the downside to $9.44 on the upside. A FULC 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 FULC IV rank near 14.93% 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 FULC at 112.20%. As a Healthcare name, FULC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FULC-specific events.

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

Frequently asked questions

What is a straddle on FULC?: A straddle on FULC is the straddle strategy applied to FULC (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 FULC stock trading near $7.14, the strikes shown on this page are snapped to the nearest listed FULC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FULC 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 FULC straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 112.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$169.07 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FULC straddle?: The breakeven for the FULC straddle priced on this page is roughly $5.28 and $8.73 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 FULC market-implied 1-standard-deviation expected move is approximately 32.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on FULC?: Straddles on FULC are pure-volatility plays that profit from large moves in either direction; traders typically buy FULC 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 FULC implied volatility affect this straddle?: FULC ATM IV is at 112.20% with IV rank near 14.93%, 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.