Buying A Call And A Put At The Same Strike «2026 Update»

Buying a call and a put at the same strike price and expiration date is called a . This is a "market-neutral" strategy, meaning you don't care if the price goes up or down, as long as it moves significantly. Strategy Overview

You buy one call and one put with identical strikes (usually "at-the-money") and the same expiration date. buying a call and a put at the same strike

Theoretically unlimited on the upside; substantial on the downside (capped only when the stock hits zero). Buying a call and a put at the

Limited to the total premiums paid for both options. buying a call and a put at the same strike

Profit from a major price swing or a surge in market volatility.