Just a quick note to say that I’ve put on the May 60/70 put/call strangle, netting around $12. It can be done at the bid prices simultaneously for $11 net proceeds.
If you don’t understand the first sentence, then you probably shouldn’t follow this strategy.
What it means, by the way, is that I sold $60 puts and $70 calls for $12 proceeds. If the stock closes third week in May between $60 and $70, I keep all the money. To lose money, it has to close below $48 or above $82.