Anyone here experienced in trading straddle options? I’ve been researching getting into them and have a few questions. I have experience buying calls and puts but have never traded multi-leg options.
Specifically I’m a little confused between the different ways to price a straddle order. The order types are: Market, Even, Net Credit and Net Debit. Based on what I’ve read online it seems that Net Credit/Debit only applies when buying a call and selling a put or buying a put and selling a call, which doesn’t seem to apply to a straddle since a straddle is buying a call and put at the same time. Is this true or could I place a Net Credit/Debit order on a straddle?
In general a brief explanation of the differences between the order types and how they relate specifically to a straddle play would be most helpful.
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