What Is the Primary Difference between a “Short Strangle” and a “Short Straddle” Options Strategy?

Both are volatility-selling strategies that profit if the underlying asset's price remains stable. A short straddle involves selling both a call and a put option with the same strike price and expiration date.

A short strangle involves selling both a call and a put option with different strike prices (usually out-of-the-money) but the same expiration. The short strangle collects less premium but has a wider break-even range, making it less risky.