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Spraddle
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Profit/Loss Pattern of a Short Spraddle A combination option similar to a straddle in which the put side and the call side have the same expiration date but different strike prices. The put strike price is below the call strike price, leaving a range of prices on the expiration date at which both options will expire worthless. Often called a Strangle or a Surf and Turf. See also Spread (7). See Combination Option.
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