Options trading strategies run the gamut from simple, “one-legged” trades to exotic multilegged beasts that seem like they’ve emerged from a fantasy novel. But simple or complex, what all Options trading spreadsheet video that discusses the greeks worksheet inputs and outputs, especially with regards to the volatility input and what number to use. There is further discussion on ways that this worksheet can be used for projections and trading decisions. A straddle is an options strategy involving the purchase of both a put and call option for the same expiration date and strike price on the same underlying. The strategy is profitable only when the stock either rises or falls from the strike price by more than the total premium paid.