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The market has no friends or favorites. It can go your way today, but tomorrow isn't promised. Traders and investors are daily saddled with finding proven ways to stay profitable in the market and minimize losses.

Being profitable in varying market conditions involves engaging the right strategies that help you sync with profitable market movements - but because of the market's unpredictable nature, sustaining consistent profit can be arduous. Therefore, protecting yourself from the unpredictability of market movement is paramount. Hence, concepts like the long straddle options strategy.

The long straddle options strategy is essentially a bet on volatility. It involves an investor taking a bet that the market will react strongly to an event but unsure of the market direction. So, he applies the long straddle strategy that allows him to bet both ways on the market and profit; either way, the market moves.

Before we consider what the long straddle strategy is, let's lay a little foundation by answering the question, "what is a straddle?"

Read More -> https://redot.com/blog/the-long-straddle-options-strategy-a-safe-bet-against-market-unpredictability/

Well, I've taken the time to read the article you shared. Simply put, there are 2 buy and sell options. Or what I say is betting, I mean what if market movements are unpredictable? because after all there are 2 buy and sell options that are installed together. If you make a sale, the price will go up, what about the second option that has been placed?
It is more of a binary option, you bet on 2 options and let 1 choice be the victim. Not much different is not it with Binary Options? only occasionally can touch 2 options. Long and short right? how many PIPS must be installed in order to take SL/TP safely and monitored?

And what worries me more is, is this strategy toying with trending news or hype? based on the article saying that "before the news release date" which means in other words the market price reacts strongly to an event?