Traders take to long straddle to profit from volatility spike

The strategy involves the simultaneous purchase of a Nifty call and a put option to benefit from sharp movement on either side. The trader gains so long as the market moves, irrespective of its direction. The counterparty, or the call and put seller, receives a premium (the price of the option) from the buyer.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3uTLwoJ