Which is better? Long Straddle or Long Strangle?

[increasenow]

Which is better? Long Straddle or Long Strangle? I used to think the Long Strangle was better but now I am thinking that the Long Straddle may actually be. Please share your thoughts and comments.

 

[Optional]

long straddles are higher probability to win...
more expensive to play....
and also low IV is key...

my old friend used to say (always buy straddles and always sell strangles)....

 

[rew]

It depends.

Like everything else in options.

 

[vanv0029]

Cottle thinks that a nearest surrounding price straddle has
the same behavior as 0.67394 (appoximately ) strangle.

 

[john33]

I think a strangle if IV is too low + large move is expected, and straddle if just IV is too low.

 

[spindr0]

Depends on size of move, time held, IV change... all of the usual suspects.

 

[osho67]

Will it be better for me to sell a strangle (on weekly ETFs) rather than selling a covered call (again weekly)? Comments appreciated.

 

[increasenow]

Quote from osho67:

Will it be better for me to sell a strangle (on weekly ETFs) rather than selling a covered call (again weekly)? Comments appreciated.

to me, seems way too much cash needed (margin) to actually sell a strangle with less profit potential than actually buy a long strangle?...

 

[spindr0]

Quote from osho67:

Will it be better for me to sell a strangle (on weekly ETFs) rather than selling a covered call (again weekly)? Comments appreciated.

Only Carnac the Magnificent can psychically divine answers to questions like these.

 

[eldorado1]

Quote from osho67:

Will it be better for me to sell a strangle (on weekly ETFs) rather than selling a covered call (again weekly)? Comments appreciated.

You must have balls of steel to sell weekly strangles, I am a seller but those weeklies seem so cheap to sell. the whole risk/reward sucks.
Anyway, Which ETF and What options? (if you would like to share)