Long Put Synthetic Straddle

Constructs a synthetic straddle from long stock and long puts: for every 100 shares held, two at the money puts are bought, leaving the position close to delta neutral and long volatility in the way an outright straddle is.

Put quotes come from bid and ask on the contracts you select, with the stock's last price and previous close alongside. The sheet totals the premium outlay and maps profit and loss at expiration across a range of stock prices, showing the move needed in either direction before the structure pays.