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Sell an ITM Call and an ITM Put usually equidistant from price.  The trade is done for a credit.  In order to be profitable the trader needs the stock to remain stagnant and between the short options.  The maximum reward is the credit and the maximum risk is unlimited to the upside and to zero on the downside.  The breakevens are the Short Call strike less the credit to the downside and the Short Put strike price plus the credit to the upside.  Review the risk graph and you should gain understanding of the risk and reward of the trade. Best, Robin

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