A "Strangle" is an options trading strategy that involves buying both a call option and a put option for the same underlying asset, with the same expiration date but different strike prices. This strategy is used when an investor expects significant price movement in either direction but is uncertain about the direction of that movement. The goal of a strangle is to profit from volatility. If the asset's price moves significantly above the call option's strike price or below the put option's strike price, the investor can potentially make a profit. This strategy is often employed in markets with high uncertainty or upcoming events that may impact prices, such as earnings reports or economic announcements.