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Strangle

OTM call + OTM put

What is Strangle?

Strangle Buying (or selling) an OTM call and OTM put with the same expiration. Cheaper than straddles but needs larger moves to profit (for long) or stays range-bound (for short).

Complete Definition

Buying (or selling) an OTM call and OTM put with the same expiration. Cheaper than straddles but needs larger moves to profit (for long) or stays range-bound (for short).

Related Terms

Straddle Iron Condor

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