Writing both a put and a call at the same strike price and expiration date is an illustration of a straddle.

Name: Writing both a put and a call at the same strike price and expiration date is an illustration of a straddle.
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A straddle involves writing (selling) both a call option and a put option with the same strike price and expiration date, aiming to profit from a significant price movement in either direction.

Writing Both a Put and a Call at the Same