Build a Short Strangle Strategy

The opposite of a long strangle, and similar to a short straddle but with different strikes. This strategy makes less income than a short straddle, but also has a wider profitable range, making the worst case scenario less likely.

Time is beneficial for this strategy as both options will decay and become cheaper to buy back, but like a short straddle, there is unlimited risk so you don't want to be exposed for too long.