# Series 7 Exam Prep 48, Straddles and Combinations

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-48-straddles-and-combinations
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-48-straddles-and-combinations.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-07-25T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-48-straddles-and-combinations
Audio file: https://episodes.captivate.fm/episode/ebd01ebb-f5f2-4cf5-849c-9f9a9a8c8866.mp3
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Duration seconds: 192

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A long straddle (buying a call and a put) is for investors expecting high volatility, with unlimited gain potential and a maximum loss equal to the premiums paid. - A short straddle (selling a call and a put) is for investors expecting low volatility, with a maximum gain equal to the premiums received and unlimited loss potential. - Straddles have two breakeven points, calculated by adding and subtracting the total premium from the strike price. - Combinations are similar to straddles but involve options with different strike prices or expiration dates. - The mnemonic SILO helps remember the profit zones: Short Inside (you want the price between the breakevens) and Long Outside (you want the price beyond the breakevens). For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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