Depending on the strategy, we use the above or below probability (i.e., the probability the price crosses the break even point). We take the underlying stock price, the break even point (target price), the days to expiration, and the 52-week historical volatility, and then use those figures in this formula. A "restricted option" is typically created after spin-offs or mergers, and is not tradeable. Note: "Restricted options" (options quotes marked with an asterisk * after the strike price, and found on an individual symbol's options page) are automatically removed from the screener. In addition, the option must not be an "adjusted" option (the option cannot be based on a split stock).
Barchart Premier Members may download up to 100. The Download will also pull all of the data fields present on the View you use.
The strategy succeeds if the underlying price is trading between the downside break even (strike minus net credit) and upside break even (strike plus the net credit). Max Profit is limited to the net credit received (premium received for selling both strikes). When selling a straddle, risk is unlimited.
A short straddle position consists of a short call and short put where both options have the same expiration and identical strike prices.