 We are in the advanced trading strategies module using options and futures and this course is going to be on straddles and strangles. Now the straddles and strangles are some of the most interesting strategies. They have a lot of plus points and they have a few minus points also. Both straddles and strangles involve buying put options as well as call options. So you can just think about that for a minute. You're buying call options and put options. So the call options is a bullish strategy. The put option is a bearish strategy. So what exactly are we trying to achieve when we buy both these options? Now that's the real interesting part and we'll be looking at both of these in detail. And actually this course on straddles and strangles will give you a great example of how the general dynamics of options work also. So it's a very interesting strategy. In fact, straddles and strangles happen to be one of the most popular strategy amongst options traders and it's a volatility strategy as you can imagine. We have both a call as well as a put option. So both a long call and a long put is a Vega positive trade. So you're going to get benefits from increased volatility when you have a long call and a long put. So now the volatility component becomes double. Now because we have both a long call and a long put, you're fine with movement in either direction because if it goes up, then your calls are going to make money and your puts are going to lose money and if it goes down, then your puts are going to make money and your calls are going to lose money. So then you might ask, so what's the big deal if one of them is winning and one of them is losing? What's the big deal of this strategy? So this is where it gets really interesting.