WHAT IS STRANGLE STRATEGY ???

In finance, a strangle is a trading strategy that involves buying or selling two options that allows the holder to profit based on the price movement of the underlying security, with minimal dependence on the direction of price movement. A strangle consists of a call and a put with the same expiration and underlying asset, but different exercise prices. Usually the call has a higher strike price than the put. If the put instead has a higher strike price, the position is sometimes referred to as guts. When the options are bought, the position is referred to as a long strangle, while when the options are sold, it is referred to as a short strangle. A strangle is similar to a straddle position; The difference is that in a straddle, the two options have the same strike price. With the same underlying asset, strangle positions can be set up at a lower cost and lower probability of winning than straddles. Strangle positions can be used with stock options, index options or options on futures.