How are JLL 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 JLL straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 33.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,743.63 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a JLL straddle?

The breakeven for the JLL straddle priced on this page is roughly $291.20 and $328.80 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 JLL market-implied 1-standard-deviation expected move is approximately 9.72%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current JLL implied volatility affect this straddle?

JLL ATM IV is at 33.90% with IV rank near 32.72%, 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.

JLL Straddle Strategy

JLL (Jones Lang LaSalle Incorporated), in the Real Estate sector, (Real Estate - Services industry), listed on NYSE.

Jones Lang LaSalle Incorporated (JLL) operates as a leading global professional services firm, specializing in comprehensive real estate and investment management solutions. Its extensive reach spans the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. JLL's real estate offerings are broad, encompassing services such as tenant and landlord representation. It also provides a robust suite of capital markets solutions, including financing advisory (debt and equity), loan servicing, strategic merger and acquisition guidance, and investment sales support. The company manages diverse property types on-site, including office, industrial, retail, and multifamily residential assets, while also delivering integrated facilities management. Furthermore, JLL offers project management and consulting services—covering design, construction, and strategic advice—for tenants of leased spaces, owner-occupiers, and real estate investors.

JLL (Jones Lang LaSalle Incorporated) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $14.62B, a trailing P/E of 16.47, a beta of 1.29 versus the broader market, a 52-week range of 246.08-363.06, average daily share volume of 395K, a public-listing history dating back to 1997, approximately 112K full-time employees. These structural characteristics shape how JLL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.29 places JLL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a straddle on JLL?

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 JLL snapshot

As of June 29, 2026, spot at $310.19, ATM IV 33.90%, IV rank 32.72%, expected move 9.72%. The straddle on JLL 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 18-day expiry.

Why this straddle structure on JLL specifically: JLL IV at 33.90% 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 9.72% (roughly $30.15 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated JLL expiries trade a higher absolute premium for lower per-day decay. Position sizing on JLL should anchor to the underlying notional of $310.19 per share and to the trader's directional view on JLL stock.

JLL straddle setup

The JLL 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 JLL near $310.19, the first option leg uses a $310.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JLL chain at a 18-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 JLL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$310.00	$10.35
Buy 1	Put	$310.00	$8.45

JLL straddle risk and reward

Net Premium / Debit: -$1,880.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$1,743.63
Breakeven(s): $291.20, $328.80
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.

JLL straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on JLL. 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%	+$29,119.00
$68.59	-77.9%	+$22,260.64
$137.18	-55.8%	+$15,402.28
$205.76	-33.7%	+$8,543.91
$274.34	-11.6%	+$1,685.55
$342.93	+10.6%	+$1,412.81
$411.51	+32.7%	+$8,271.17
$480.10	+54.8%	+$15,129.53
$548.68	+76.9%	+$21,987.89
$617.26	+99.0%	+$28,846.26

When traders use straddle on JLL

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

JLL thesis for this straddle

The market-implied 1-standard-deviation range for JLL extends from approximately $280.04 on the downside to $340.34 on the upside. A JLL 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 JLL IV rank near 32.72% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on JLL should anchor more to the directional view and the expected-move geometry. As a Real Estate name, JLL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JLL-specific events.

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

Frequently asked questions

What is a straddle on JLL?: A straddle on JLL is the straddle strategy applied to JLL (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 JLL stock trading near $310.19, the strikes shown on this page are snapped to the nearest listed JLL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are JLL 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 JLL straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 33.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,743.63 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a JLL straddle?: The breakeven for the JLL straddle priced on this page is roughly $291.20 and $328.80 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 JLL market-implied 1-standard-deviation expected move is approximately 9.72%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on JLL?: Straddles on JLL are pure-volatility plays that profit from large moves in either direction; traders typically buy JLL 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 JLL implied volatility affect this straddle?: JLL ATM IV is at 33.90% with IV rank near 32.72%, 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.