Strangle Calculator

Search a symbol to visualize the potential profit and loss for a strangle option strategy.

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What is a strangle?

High VolatilityUnlimited ProfitLimited Loss

A strangle is similar to a straddle, except that the put and call are at different strikes. These out-of-the-money options make a strangle cheaper than a straddle, but require a bigger move to make a profit.

ABProfitLossStock Price (at expiration)
  • Buy a put at strike A
  • Buy a call at strike B