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Why am I king of the long strangles? Because my last name is King! And I also learn something new every time I trade a strangle. A long strangle consists of buying one call option and one put option to "strangle" the stock price. To earn a profit, you'll need a move in either direction (over 10%), so I trade around earnings calls. The primary way to safely trade strangles is to limit the amount of money to the amount you are willing to lose. That way, you never get in over your head. You'll find more tips inside. Good Luck!
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