I thought your were going to talk about a straddle options strategy.<p>A straddle is simply the purchase of an at-the-money call option and an at-the-money put option with the same strike and expiry date. It is a net debit transaction that a trader enters in should they expect a large move in either direction in the near future.<p>Read more: Trading Volatility? Don’t Trade Stocks, Trade Options | Investopedia <a href="https://www.investopedia.com/articles/active-trading/032515/trading-volatility-dont-trade-stocks-trade-options.asp#ixzz5TkLdOAvu" rel="nofollow">https://www.investopedia.com/articles/active-trading/032515/...</a>
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I did some brief work in a hedge fund on special situations, which I think is just a synonym for event-driven? It's been awhile and I'm no longer in finance, wonder if any experts have insight to share here.