SPY Straddle Calculator
A long straddle buys a call and a put at the same strike to profit from a large move in either direction. It wins when the stock moves more than the combined premium; it loses when the stock sits still. It is a bet on volatility, not direction.
$737.76
2026-06-12
30%
Buy both a call and a put at the same strike price. Profits from large moves in either direction. You need the stock to move more than the total premium paid to be profitable. Best used before earnings, FDA decisions, or other catalysts.
Strategy Legs
SPY Straddle — Frequently Asked Questions
What is the max profit on a SPY straddle?
Max profit on a SPY straddle is set by the strike width and the net debit or credit. With SPY near $737.76, load strikes from the live chain and the calculator computes max profit, max loss, and breakevens for you.
What is the max loss on a SPY straddle?
The straddle caps your max loss — the calculator shows the exact figure once you load live SPY strikes. Click contracts in the chain to fill the legs with real prices.
How do I set up a SPY straddle with live prices?
Enter SPY, pick an expiration, and load the chain. Click BUY or SELL on each strike to populate the strategy legs with the live mid price, then hit Calculate P&L.
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Disclaimer: This calculator is for educational purposes only and does not constitute financial advice. Trading involves substantial risk of loss. Past performance does not guarantee future results. Always do your own research and consult with a licensed financial advisor before making investment decisions.