Options Strategy: Straddles and Strangles Straddle Spread Defined: An options strategy with which the investor holds a position in both a call and put with the same strike price and expiration date. Strangle Spread Defined: An options strategy where the investor holds a position in both a call and put with different strike prices but with the same maturity and underlying asset. http://www.daytradeteam.com/dtt/straddle-strangle-options-trading.asp
My posting is for my own entertainment, do your own DD before pushing your buy/call button