Expectation : Volatile

Profit When : Up or Down

Risk : Limited

Reward : Unlimited

Upper Breakeven Pt : Strike Price + Net Debit

Lower Breakeven Pt : Strike Price - Net Debit

Max Profit : Unlimited.

OppiE's Note : Long Strangle is a variant of the Long Straddle options strategy using OTM options rather than ATM options. In reality, since ATM options are so rare, Strangles are used more often than Straddles.