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[Fox13]

Yes, a few times. Usually, it’s a good idea when the VIX is very low and has a good chance to go up. Thus, both puts and calls will do relatively well. The most important thing is how to get out of a strangle. There are books ...but follow your instincts and your TA. You could come up with creative solutions, like using the “losing arm” to generate a credit spread …if you dare…LOL!

I did well with strangles when I managed them actively and calmly. Inactivity and wishful thinking don’t work for me!