RHI Straddle Strategy
RHI (Robert Half International Inc.), in the Industrials sector, (Staffing & Employment Services industry), listed on NYSE.
Robert Half International Inc. provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary services for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract professionals and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking and cloud, systems integration and deployment, database design and administration, and security and business continuity. The company also offers temporary and full-time employees in attorney, paralegal, legal administrative, and legal secretarial positions; and senior-level project professionals in the accounting and finance fields for financial systems conversions, expansion into new markets, business process re-engineering, business systems performance improvement, and post-merger financial consolidation. It is involved in serving professionals in the areas of creative, design, marketing, advertising, and public relations; and placing various positions, such as creative directors, graphics designers, web designers, media buyers, front end developers, copywriters, digital marketing managers, marketing analytics specialists, brand managers, and public relations specialists. The company provides internal audit, technology consulting, risk and compliance consulting, and business performance services.
RHI (Robert Half International Inc.) trades in the Industrials sector, specifically Staffing & Employment Services, with a market capitalization of approximately $2.55B, a trailing P/E of 19.17, a beta of 0.79 versus the broader market, a 52-week range of 21.83-48.2, average daily share volume of 3.1M, a public-listing history dating back to 1980, approximately 15K full-time employees. These structural characteristics shape how RHI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.79 places RHI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. RHI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a straddle on RHI?
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 RHI snapshot
As of May 15, 2026, spot at $25.15, ATM IV 49.40%, IV rank 11.14%, expected move 14.16%. The straddle on RHI 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 RHI specifically: RHI IV at 49.40% is on the cheap side of its 1-year range, which favors premium-buying structures like a RHI straddle, with a market-implied 1-standard-deviation move of approximately 14.16% (roughly $3.56 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 RHI expiries trade a higher absolute premium for lower per-day decay. Position sizing on RHI should anchor to the underlying notional of $25.15 per share and to the trader's directional view on RHI stock.
RHI straddle setup
The RHI 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 RHI near $25.15, the first option leg uses a $25.15 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RHI 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 RHI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $25.15 | N/A |
| Buy 1 | Put | $25.15 | N/A |
RHI 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.
RHI straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle on RHI. 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 RHI
Straddles on RHI are pure-volatility plays that profit from large moves in either direction; traders typically buy RHI straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
RHI thesis for this straddle
The market-implied 1-standard-deviation range for RHI extends from approximately $21.59 on the downside to $28.71 on the upside. A RHI 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 RHI IV rank near 11.14% 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 RHI at 49.40%. As a Industrials name, RHI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RHI-specific events.
RHI 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. RHI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RHI alongside the broader basket even when RHI-specific fundamentals are unchanged. Always rebuild the position from current RHI chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on RHI?
- A straddle on RHI is the straddle strategy applied to RHI (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 RHI stock trading near $25.15, the strikes shown on this page are snapped to the nearest listed RHI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RHI 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 RHI straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 49.40%), 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 RHI straddle?
- The breakeven for the RHI straddle priced on this page is no defined breakeven on the modeled curve 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 RHI market-implied 1-standard-deviation expected move is approximately 14.16%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on RHI?
- Straddles on RHI are pure-volatility plays that profit from large moves in either direction; traders typically buy RHI 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 RHI implied volatility affect this straddle?
- RHI ATM IV is at 49.40% with IV rank near 11.14%, 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.