THRY Straddle Strategy
THRY (Thryv Holdings, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Thryv Holdings, Inc. focuses on providing comprehensive digital marketing tools and cloud-based software solutions tailored for small and medium-sized businesses (SMBs). The company operates through three primary business units: Software as a Service (SaaS), Marketing Services, and Thryv International. Among its key offerings is the Thryv platform, an integrated end-to-end customer experience management system for SMBs. It also offers Hub by Thryv, designed to give franchisors real-time oversight and operational management capabilities for multiple locations. Thryv Leads provides an integrated solution for local marketing and generating new business opportunities, complemented by related support services. Furthermore, ThryvPay acts as a versatile payment processing solution, facilitating transactions via credit card and ACH.
THRY (Thryv Holdings, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $95.8M, a beta of 0.91 versus the broader market, a 52-week range of 1.91-13.9, average daily share volume of 815K, a public-listing history dating back to 2018, approximately 3K full-time employees. These structural characteristics shape how THRY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.91 places THRY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a straddle on THRY?
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.
THRY snapshot
As of August 14, 2026, spot at $2.16, ATM IV 84.40%, IV rank 33.44%, expected move 24.20%. The straddle on THRY 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 THRY specifically: THRY IV at 84.40% 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 24.20% (roughly $0.52 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 THRY expiries trade a higher absolute premium for lower per-day decay. Position sizing on THRY should anchor to the underlying notional of $2.16 per share and to the trader's directional view on THRY stock.
THRY straddle setup
The THRY 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 THRY at $2.16 on that close, the first option leg uses a $2.16 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed THRY 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 THRY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $2.16 | N/A |
| Buy 1 | Put | $2.16 | N/A |
THRY 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.
THRY straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle on THRY. 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 THRY
Straddles on THRY are pure-volatility plays that profit from large moves in either direction; traders typically buy THRY straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
THRY thesis for this straddle
The market-implied 1-standard-deviation range for THRY extends from approximately $1.64 on the downside to $2.68 on the upside. A THRY 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 THRY IV rank near 33.44% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on THRY should anchor more to the directional view and the expected-move geometry. As a Technology name, THRY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to THRY-specific events.
THRY 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. THRY positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move THRY alongside the broader basket even when THRY-specific fundamentals are unchanged. Always rebuild the position from current THRY chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on THRY?
- A straddle on THRY is the straddle strategy applied to THRY (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 THRY stock at $2.16 on the most recent close, the strikes shown on this page are snapped to the nearest listed THRY chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are THRY 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 THRY straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 84.40%), 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 THRY straddle?
- The breakeven for the THRY 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 THRY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 24.20%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on THRY?
- Straddles on THRY are pure-volatility plays that profit from large moves in either direction; traders typically buy THRY 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 THRY implied volatility affect this straddle?
- THRY ATM IV is at 84.40% with IV rank near 33.44%, 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.