Day 3: Straddles and Strangles

Lesson /35 | Study Time: 45 Min
# Straddles and Strangles

## Long Straddles
- Strategy setup
- Breakeven analysis
- Volatility requirements
- Risk management

## Long Strangles
- Strike selection
- Capital efficiency
- Greek exposure
- Exit strategies

## Short Variations
- Premium collection
- Margin requirements
- Risk control
- Adjustment rules

## Volatility Trading
- IV analysis
- Event trading
- Position sizing
- Portfolio impact