Multi Straddle/Strangle lets you track the combined premium value of selected straddle or strangle strategies over time for a chosen underlying and expiry.

Unlike Auto ATM Straddle, this chart allows you to manually select strikes, compare how their combined premiums evolve, and optionally Buy or Sell (B/S) the strategy from the kebab menu.

What does the Multi Straddle/Strangle chart show?

The chart plots multiple data points on the same timeline:

• Straddle / Strangle value (Y-axis) — Combined premium of the selected Call + Put legs
• Underlying price
• VWAP (optional)

Important: The Y-axis always represents the Straddle or Strangle premium, not price or IV.

How are strategies selected?

You can manually create strategies by choosing strikes from the Option Chain.

Example:

• Straddle: 26000 CE + 26000 PE
• Strangle: 25800 PE + 26200 CE

Once selected, the chart tracks the total premium movement of each strategy over time.

Steps to access Multi Straddle/Strangle

FYERS Web

1. Go to Options
2. Select an Underlying (e.g., NIFTY)
3. Open Analytics
4. Under Charts, click Multi Straddle/Strangle
5. Select strikes from the Option Chain

Buying or Selling a strategy (B/S)

• The Buy (B) and Sell (S) actions are available from the kebab menu (⋮) next to the selected strategy
• Clicking B or S opens the order flow for the combined strategy
• You can also modify the selected strategy from the same menu
• Orders are not placed automatically — confirmation is always required.

How to use Multi Straddle/Strangle effectively?

This tool is commonly used to:

• Compare premium decay across different strike combinations
• Track the volatility behaviour of custom strategies
• Evaluate which straddle or strangle is losing or gaining value faster
• Decide entry or exit timing for multi-leg strategies

Practical example:

• If the straddle value is steadily declining → Indicates time decay/volatility contraction
• If the strangle value spikes → Indicates volatility expansion or directional move

Chart controls available

• Time period: Intraday
• Resolution: 1 min, 5 min, 15 min, 30 min, 1 hour
• Expiry: Options expiry
• Multiple strategies: Compare more than one straddle/strangle

What if the values look unexpected?

• Check if different strikes are being compared
• Confirm the expiry
• Ensure you’re reading the strategy value, not the underlying price
• Sudden drops or spikes usually reflect volatility changes or leg imbalance