Strangle Option Strategy in Excel: Straddles, Guts and the Earnings Expected Move
Strangle option strategy guides: long and short strangles, straddles, synthetic versions and guts, then an earnings expected move calculator and straddle screener built in Excel with live data.
- 1Understand What a Strangle in Options Is
A long strangle buys an out-of-the-money call and put with the same expiry. It profits from a large move either way; the maximum loss is the premium paid.
- 2Strangle and Straddle Strategies
A straddle buys a call and put at the same strike; a strangle buys an out-of-the-money call and put at different strikes. Both profit from a large move in either direction.
- 3Exploring the Risk/Reward of Strangle Options Trading
A strangle combines an out-of-the-money call and put. Long vs short strangle payoff, breakevens, maximum risk, and the role of implied volatility.
- 4Short Strangle Option Strategy
A short strangle sells an out-of-the-money call and put with the same expiry to collect premium when a stock stays in a range. Risk is unlimited.
- 5Overview of Synthetic Strangle Investing
A synthetic strangle copies a long strangle using stock plus two puts. How it is built, its profit and loss, its Greeks (long vega, short theta), and the risks.
- 6Synthetic Short Straddle with Puts Option Strategy
A synthetic short straddle with puts shorts 100 shares and sells two at-the-money puts. Setup, maximum profit, unlimited risk, breakevens, and an Excel template.
- 7Short Guts & Long Guts Option Strategy
Short guts sells an in-the-money call and put for a credit and profits if the stock stays in range; long guts buys both and profits from a large move. Break-evens and risks.
- 8Long Guts Options Strategy
The long guts options strategy buys an in-the-money call and an in-the-money put on the same stock and expiration to profit from a large move either way.
- 9Short Guts Options Strategy
A short guts sells an in-the-money call and an in-the-money put with the same expiry. Setup, maximum profit, unlimited risk, breakevens, and when it is used.
- 10Earnings Expected Move Calculator Excel: Q2 2026 Implied Move and Straddle Dashboard
Free Excel earnings expected move calculator: implied move from IV and straddle prices, break-evens and IV rank for Q2 2026 earnings, with MarketXLS formulas.
- 11Earnings Straddle Screener Excel: Rank Q2 2026 Implied Moves Before Earnings Week
Earnings straddle screener excel that ranks Q2 2026 earnings names by implied move, IV Rank and the IV to realized volatility spread, with a free premium dashboard template.