what is a strangle 
a strangle is an options strategy in which the investor holds a position in both a call and a put option with different strike prices but with the same expiration date and underlying asset a strangle is a good strategy if you think the underlying security will experience a large price movement in the near future but are unsure of the direction however it is profitable mainly if the asset does swing sharply in price a strangle is similar to a straddle but uses options at different strike prices while a straddle uses a call and put at the same strike price investopedia theresa chiechi