**Title: Analysis of 1-Day ATM NDX Straddles from January 2023 to June 2026**
From January 2023 to June 2026, trading of 1-day at-the-money (ATM) straddles on the Nasdaq-100® (NDX®) has revealed that buying these options generally results in higher profitability than selling them. The study tracked price behavior and profitability, indicating stronger performance for buyers despite a losing year in 2023.
Key data points include that on April 30, 2026, the NDX closed at 27,452.10, leading to a straddle cost of 209.25 for buyers and 205.25 for sellers. The analysis shows that the average straddle pricing varied widely, reflecting market conditions, with significant movements often linked to economic reports and earnings seasons. In 2026, for example, straddle sellers faced a substantial loss of 1,211.80 on June 5 due to a 4.77% drop in the NDX, while buyers gained 1,207.80, emphasizing the impact of market volatility.
Overall, the historical trends challenge the conventional wisdom that options sellers outperform buyers, particularly in the context of short-dated NDX straddles, where outlier market moves frequently erase small gains from straddle sales.
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