How are NTR 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 NTR straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.53%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$363.76 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a NTR straddle?

The breakeven for the NTR straddle priced on this page is roughly $64.18 and $71.83 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 NTR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.61%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current NTR implied volatility affect this straddle?

NTR ATM IV is at 26.53% with IV rank near 17.98%, 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.

NTR Straddle Strategy

NTR (Nutrien Ltd.), in the Basic Materials sector, (Agricultural Inputs industry), listed on NYSE.

Nutrien Ltd., a company established in 2017 and based in Saskatoon, Canada, functions as a principal supplier of essential agricultural resources and associated services. The firm furnishes vital crop inputs, including various fertilizer compounds like potash, nitrogen, phosphate, and sulfate, in addition to offering financial solutions to its clientele. Its operations involve the extensive distribution of crop-related products such as nutrients, protection agents, seeds, and general merchandise. This is facilitated through a vast network of nearly 2,000 retail establishments situated across the United States, Canada, South America, and Australia. Beyond its retail footprint, Nutrien also engages directly with agricultural producers, delivering personalized services through its numerous farm centers located throughout North America, South America, and Australia.

NTR (Nutrien Ltd.) trades in the Basic Materials sector, specifically Agricultural Inputs, with a market capitalization of approximately $32.25B, a trailing P/E of 13.54, a beta of 1.06 versus the broader market, a 52-week range of 53.03-85.36, average daily share volume of 2.8M, a public-listing history dating back to 2018, approximately 26K full-time employees. These structural characteristics shape how NTR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.06 places NTR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. NTR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on NTR?

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.

NTR snapshot

As of August 14, 2026, spot at $68.15, ATM IV 26.53%, IV rank 17.98%, expected move 7.61%. The straddle on NTR 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 28-day expiry.

Why this straddle structure on NTR specifically: NTR IV at 26.53% is on the cheap side of its 1-year range, which favors premium-buying structures like a NTR straddle, with a market-implied 1-standard-deviation move of approximately 7.61% (roughly $5.18 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 NTR expiries trade a higher absolute premium for lower per-day decay. Position sizing on NTR should anchor to the underlying notional of $68.15 per share and to the trader's directional view on NTR stock.

NTR straddle setup

The NTR 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 NTR at $68.15 on that close, the first option leg uses a $68.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NTR 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 NTR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$68.00	$2.13
Buy 1	Put	$68.00	$1.70

NTR straddle risk and reward

Net Premium / Debit: -$382.50
Max Profit (per contract): Unbounded
Max Loss (per contract): -$363.76
Breakeven(s): $64.18, $71.83
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.

NTR straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on NTR. 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%	+$6,416.50
$15.08	-77.9%	+$4,909.78
$30.14	-55.8%	+$3,403.05
$45.21	-33.7%	+$1,896.33
$60.28	-11.5%	+$389.61
$75.35	+10.6%	+$352.12
$90.41	+32.7%	+$1,858.84
$105.48	+54.8%	+$3,365.57
$120.55	+76.9%	+$4,872.29
$135.62	+99.0%	+$6,379.01

When traders use straddle on NTR

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

NTR thesis for this straddle

The market-implied 1-standard-deviation range for NTR extends from approximately $62.97 on the downside to $73.33 on the upside. A NTR 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 NTR IV rank near 17.98% 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 NTR at 26.53%. As a Basic Materials name, NTR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NTR-specific events.

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

Frequently asked questions

What is a straddle on NTR?: A straddle on NTR is the straddle strategy applied to NTR (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 NTR stock at $68.15 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed NTR chain strike and the premiums come straight from that session's bid/ask midpoint.
How are NTR 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 NTR straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.53%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$363.76 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NTR straddle?: The breakeven for the NTR straddle priced on this page is roughly $64.18 and $71.83 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 NTR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.61%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on NTR?: Straddles on NTR are pure-volatility plays that profit from large moves in either direction; traders typically buy NTR 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 NTR implied volatility affect this straddle?: NTR ATM IV is at 26.53% with IV rank near 17.98%, 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.