Strangles will nearly always be less expensive than straddles since the possibilities bought are OTM possibilities.
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This technique primarily brings together offering an ATM straddle and obtaining protecting “wings.” You can even think of the construction as two spreads.
It is common to contain the exact same width for both equally spreads. The lengthy OTM simply call shields against endless upside. The lengthy OTM place guards towards the downside (from the brief place strike to zero).
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