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Old 11-01-2007, 03:50 PM
Jimbo Jimbo is offline
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Join Date: Sep 2002
Location: Planet Earth but relocating
Posts: 4,376
Default Is this called a Straddle?

Hey I just did it but am not sure it is a straddle. Earlier today I bought some $100 calls on GRMN, now I bought $100 puts on GRMN. I got enough spread that I can cash out of both positions and cover all my transaction costs plus a small profit. I know this will deteriorate as I lose the time value but want to know if this is a true straddle or are they normally done at different strike prices?

Thanks,

Jimbo
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