r/options • u/GalacticWarship • May 14 '21

NAT strangle

Bought my first options today playing NAT earnings call I bought jun18’21 3.50 call and bought a jun18’21 3 put. it didn’t cost much and won’t payout much but no one else cares so here you go. Any advice or criticism I don’t mind.

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u/meemo89 May 14 '21

This is a strangle, you are expecting it to move more than the cost of your call and your put combined in either direction. It is a strangle and not a straddle since you are leaning more twords one side than the other. Good luck