Options trading has many strategies to capitalize on market volatility, with the versatile long strangle. A long strangle lets traders profit from significant price movements, regardless of whether the asset moves up or down. It is especially attractive when a large price move is expected, but the direction is uncertain. In this blog, we will explore how to place a long strangle on Webull, covering steps. We will also discuss strategies for maximizing profit potential while minimizing risks when using the long strangle.
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How to Place a Long Strangle on Webull
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A long strangle on Webull is an options strategy where you simultaneously buy a call and a put option with the same expiration date but different strike prices. This approach is used when you expect significant market movement but are uncertain about the direction. To place a long strangle on Webull, first identify a stock with high volatility. Then, select the call and put options with strike prices above and below the current market price, respectively. Add them to your order, review the total cost, and confirm the trade. To avoid distractions while focusing on options trading, consider using charging lockers at your workspace to securely power your devices without interruptions.
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