PRCT Straddle Strategy
PRCT (PROCEPT BioRobotics Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
PROCEPT BioRobotics Corporation specializes in pioneering surgical robotic technologies, offering innovative solutions within the field of urology. Its flagship product is the AquaBeam Robotic System, a sophisticated, image-guided surgical robot designed for minimally invasive urological procedures. This system primarily facilitates Aquablation therapy, which the company also devised, to alleviate lower urinary tract symptoms in male patients diagnosed with benign prostatic hyperplasia (BPH). As of year-end 2021, PROCEPT BioRobotics had successfully deployed 130 AquaBeam Robotic Systems across the globe, with a significant majority—78 units—located in the United States. Founded in 2007, the corporation maintains its headquarters in Redwood City, California.
PRCT (PROCEPT BioRobotics Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $1.21B, a beta of 0.89 versus the broader market, a 52-week range of 16.665-42.705, average daily share volume of 1.6M, a public-listing history dating back to 2021, approximately 888 full-time employees. These structural characteristics shape how PRCT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.89 places PRCT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a straddle on PRCT?
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.
PRCT snapshot
As of August 14, 2026, spot at $21.67, ATM IV 55.80%, IV rank 37.57%, expected move 16.00%. The straddle on PRCT below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this straddle structure on PRCT specifically: PRCT IV at 55.80% 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 16.00% (roughly $3.47 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PRCT expiries trade a higher absolute premium for lower per-day decay. Position sizing on PRCT should anchor to the underlying notional of $21.67 per share and to the trader's directional view on PRCT stock.
PRCT straddle setup
The PRCT 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 PRCT at $21.67 on that close, the first option leg uses a $21.67 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PRCT chain at a 35-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 PRCT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $21.67 | N/A |
| Buy 1 | Put | $21.67 | N/A |
PRCT straddle risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
PRCT straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle on PRCT. 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.
When traders use straddle on PRCT
Straddles on PRCT are pure-volatility plays that profit from large moves in either direction; traders typically buy PRCT straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
PRCT thesis for this straddle
The market-implied 1-standard-deviation range for PRCT extends from approximately $18.20 on the downside to $25.14 on the upside. A PRCT 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 PRCT IV rank near 37.57% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on PRCT should anchor more to the directional view and the expected-move geometry. As a Healthcare name, PRCT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PRCT-specific events.
PRCT 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. PRCT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PRCT alongside the broader basket even when PRCT-specific fundamentals are unchanged. Always rebuild the position from current PRCT chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on PRCT?
- A straddle on PRCT is the straddle strategy applied to PRCT (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 PRCT stock at $21.67 on the most recent close, the strikes shown on this page are snapped to the nearest listed PRCT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are PRCT 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 PRCT straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 55.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PRCT straddle?
- The breakeven for the PRCT straddle priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 PRCT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.00%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on PRCT?
- Straddles on PRCT are pure-volatility plays that profit from large moves in either direction; traders typically buy PRCT 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 PRCT implied volatility affect this straddle?
- PRCT ATM IV is at 55.80% with IV rank near 37.57%, 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.