Hi all..What is the option strategy called when if someone is bullish but to protect from some downside:-
Buys(long) ITM call and and at the same time buys (long) OTM lower put
For e.g- Current Reliance rate is 1290 and am bullish so i buy long 1290 call and same time long 1240 put.
I have tried searching the net but have not been able to find exact strategy name some were similar but not exactly same.
I would like to study this strategy more so needed the name.
Buys(long) ITM call and and at the same time buys (long) OTM lower put
For e.g- Current Reliance rate is 1290 and am bullish so i buy long 1290 call and same time long 1240 put.
I have tried searching the net but have not been able to find exact strategy name some were similar but not exactly same.
I would like to study this strategy more so needed the name.