LASR Straddle Strategy
LASR (nLIGHT, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
nLIGHT, Inc. designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications. It sells its products through direct sales force in the United States, China, South Korea, and European countries, as well as through various independent sales representatives and distributors in Asia, Europe, and South America. The company was formerly known as nLight Photonics Corporation and changed its name to nLIGHT, Inc. in January 2016. nLIGHT, Inc. was incorporated in 2000 and is headquartered in Camas, Washington.
LASR (nLIGHT, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $4.54B, a beta of 2.34 versus the broader market, a 52-week range of 12.17-86.95, average daily share volume of 1.8M, a public-listing history dating back to 2018, approximately 800 full-time employees. These structural characteristics shape how LASR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.34 indicates LASR 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 LASR?
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 LASR snapshot
As of May 13, 2026, spot at $81.06, ATM IV 106.10%, IV rank 64.56%, expected move 30.42%. The straddle on LASR 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 LASR specifically: LASR IV at 106.10% 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 30.42% (roughly $24.66 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 LASR expiries trade a higher absolute premium for lower per-day decay. Position sizing on LASR should anchor to the underlying notional of $81.06 per share and to the trader's directional view on LASR stock.
LASR straddle setup
The LASR 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 LASR near $81.06, the first option leg uses a $81.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LASR 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 LASR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $81.00 | $6.85 |
| Buy 1 | Put | $81.00 | $12.05 |
LASR straddle risk and reward
- Net Premium / Debit
- -$1,890.00
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- -$1,855.77
- Breakeven(s)
- $62.10, $99.90
- 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.
LASR straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle on LASR. 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% | +$6,209.00 |
| $17.93 | -77.9% | +$4,416.83 |
| $35.85 | -55.8% | +$2,624.66 |
| $53.78 | -33.7% | +$832.49 |
| $71.70 | -11.6% | -$959.68 |
| $89.62 | +10.6% | -$1,028.15 |
| $107.54 | +32.7% | +$764.03 |
| $125.46 | +54.8% | +$2,556.20 |
| $143.38 | +76.9% | +$4,348.37 |
| $161.31 | +99.0% | +$6,140.54 |
When traders use straddle on LASR
Straddles on LASR are pure-volatility plays that profit from large moves in either direction; traders typically buy LASR straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
LASR thesis for this straddle
The market-implied 1-standard-deviation range for LASR extends from approximately $56.40 on the downside to $105.72 on the upside. A LASR 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 LASR IV rank near 64.56% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on LASR should anchor more to the directional view and the expected-move geometry. As a Technology name, LASR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LASR-specific events.
LASR 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. LASR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LASR alongside the broader basket even when LASR-specific fundamentals are unchanged. Always rebuild the position from current LASR chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on LASR?
- A straddle on LASR is the straddle strategy applied to LASR (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 LASR stock trading near $81.06, the strikes shown on this page are snapped to the nearest listed LASR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LASR 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 LASR straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 106.10%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,855.77 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LASR straddle?
- The breakeven for the LASR straddle priced on this page is roughly $62.10 and $99.90 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 LASR market-implied 1-standard-deviation expected move is approximately 30.42%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on LASR?
- Straddles on LASR are pure-volatility plays that profit from large moves in either direction; traders typically buy LASR 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 LASR implied volatility affect this straddle?
- LASR ATM IV is at 106.10% with IV rank near 64.56%, 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.