RELY Straddle Strategy

RELY (Remitly Global, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.

RELY (Remitly Global, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $5.00B, a trailing P/E of 47.45, a beta of 0.40 versus the broader market, a 52-week range of 12.08-24.92, average daily share volume of 4.3M, a public-listing history dating back to 2021, approximately 3K full-time employees. These structural characteristics shape how RELY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.40 indicates RELY has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 47.45 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a straddle on RELY?

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 RELY snapshot

As of May 15, 2026, spot at $22.69, ATM IV 41.50%, IV rank 9.33%, expected move 11.90%. The straddle on RELY 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 RELY specifically: RELY IV at 41.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a RELY straddle, with a market-implied 1-standard-deviation move of approximately 11.90% (roughly $2.70 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 RELY expiries trade a higher absolute premium for lower per-day decay. Position sizing on RELY should anchor to the underlying notional of $22.69 per share and to the trader's directional view on RELY stock.

RELY straddle setup

The RELY 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 RELY near $22.69, the first option leg uses a $23.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RELY 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 RELY shares for the stock leg in covered calls and collars).

RELY straddle risk and reward

Net Premium / Debit

-$232.50

Max Profit (per contract)

Unbounded

Max Loss (per contract)

-$228.80

Breakeven(s)

$20.68, $25.33

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.

RELY straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on RELY. 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 RELY

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

RELY thesis for this straddle

The market-implied 1-standard-deviation range for RELY extends from approximately $19.99 on the downside to $25.39 on the upside. A RELY 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 RELY IV rank near 9.33% 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 RELY at 41.50%. As a Technology name, RELY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RELY-specific events.

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

Frequently asked questions

What is a straddle on RELY?

A straddle on RELY is the straddle strategy applied to RELY (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 RELY stock trading near $22.69, the strikes shown on this page are snapped to the nearest listed RELY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.

How are RELY 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 RELY straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 41.50%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$228.80 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a RELY straddle?

The breakeven for the RELY straddle priced on this page is roughly $20.68 and $25.33 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 RELY market-implied 1-standard-deviation expected move is approximately 11.90%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

When should you consider a straddle on RELY?

Straddles on RELY are pure-volatility plays that profit from large moves in either direction; traders typically buy RELY 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 RELY implied volatility affect this straddle?

RELY ATM IV is at 41.50% with IV rank near 9.33%, 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.

Related RELY analysis

• Straddle strategy reference
• RELY options overview
• RELY P&L curve (full chain)
• RELY options chain
• RELY volatility skew