How are UNF 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 UNF straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 19.00%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,332.31 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a UNF straddle?

The breakeven for the UNF straddle priced on this page is roughly $276.30 and $303.70 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 UNF market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.45%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current UNF implied volatility affect this straddle?

UNF ATM IV is at 19.00% with IV rank near 2.19%, 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.

UNF Straddle Strategy

UNF (UniFirst Corporation), in the Industrials sector, (Specialty Business Services industry), listed on NYSE.

UniFirst Corporation is a prominent provider of workwear and protective uniforms, catering to businesses across the United States, Europe, and Canada. The company segments its operations into U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid divisions. At its core, UniFirst manages the entire lifecycle of work clothing. This includes designing, manufacturing, personalizing, renting, cleaning, delivering, and selling a wide range of uniforms and protective apparel. Their offerings span from standard items like shirts, pants, jackets, coveralls, lab coats, smocks, and aprons to specialized protective gear, such as flame-resistant and high-visibility garments. Beyond uniforms, UniFirst supplies a comprehensive array of facility maintenance and hygiene products.

UNF (UniFirst Corporation) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $5.27B, a trailing P/E of 45.29, a beta of 0.63 versus the broader market, a 52-week range of 147.66-306.67, average daily share volume of 204K, a public-listing history dating back to 1984, approximately 16K full-time employees. These structural characteristics shape how UNF stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.63 indicates UNF 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 45.29 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. UNF pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a straddle on UNF?

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.

UNF snapshot

As of August 14, 2026, spot at $288.17, ATM IV 19.00%, IV rank 2.19%, expected move 5.45%. The straddle on UNF 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 35-day expiry.

Why this straddle structure on UNF specifically: UNF IV at 19.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a UNF straddle, with a market-implied 1-standard-deviation move of approximately 5.45% (roughly $15.70 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 UNF expiries trade a higher absolute premium for lower per-day decay. Position sizing on UNF should anchor to the underlying notional of $288.17 per share and to the trader's directional view on UNF stock.

UNF straddle setup

The UNF 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 UNF at $288.17 on that close, the first option leg uses a $290.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UNF 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 UNF shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$290.00	$5.90
Buy 1	Put	$290.00	$7.80

UNF straddle risk and reward

Net Premium / Debit: -$1,370.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$1,332.31
Breakeven(s): $276.30, $303.70
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.

UNF straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on UNF. 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%	+$27,629.00
$63.72	-77.9%	+$21,257.51
$127.44	-55.8%	+$14,886.03
$191.15	-33.7%	+$8,514.54
$254.87	-11.6%	+$2,143.05
$318.58	+10.6%	+$1,488.44
$382.30	+32.7%	+$7,859.92
$446.01	+54.8%	+$14,231.41
$509.73	+76.9%	+$20,602.90
$573.44	+99.0%	+$26,974.39

When traders use straddle on UNF

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

UNF thesis for this straddle

The market-implied 1-standard-deviation range for UNF extends from approximately $272.47 on the downside to $303.87 on the upside. A UNF 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 UNF IV rank near 2.19% 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 UNF at 19.00%. As a Industrials name, UNF options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UNF-specific events.

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

Frequently asked questions

What is a straddle on UNF?: A straddle on UNF is the straddle strategy applied to UNF (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 UNF stock at $288.17 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed UNF chain strike and the premiums come straight from that session's bid/ask midpoint.
How are UNF 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 UNF straddle priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 19.00%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,332.31 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a UNF straddle?: The breakeven for the UNF straddle priced on this page is roughly $276.30 and $303.70 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 UNF market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.45%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on UNF?: Straddles on UNF are pure-volatility plays that profit from large moves in either direction; traders typically buy UNF 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 UNF implied volatility affect this straddle?: UNF ATM IV is at 19.00% with IV rank near 2.19%, 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.