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A strangle can be bought or sold, but here at tastytrade, we always sell strangles.

A strangle is a high probability naked option trade that combines selling an OTM put with an OTM call. This eliminates a directional assumption which is why we call it a delta neutral trade. Max profit is obtained if the stock price is within our short strikes at expiration.

Check out our blog post article on strangles to learn more!

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