A Review of Longer Term Straddles & Strangles..

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When market direction is uncertain and conditions are anything but calm, what's an option trader to do? Two strategies that might fit are longer term straddles or strangles. 

CBOE Volatility Index

SPX

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post

additional risks and multiple commissions

long straddle

  • Stock at 50
  • Buy to open a call, strike price 50
  • Buy to open a put, strike price 50

Vega

long strangle

  • Stock at 50
  • Buy to open a call, strike price 52.50
  • Buy to open a put, strike price 47.50

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