Whats a short / long straddle?

Short Straddle: If you believe the market volatility will be low in the upcoming days/weeks a short straddle might be the right option strategy for you. You buy a short call as well as a short put. Probably the buyer of the call and put won’t exercise his options and you make a profit (2 x premium)

Long Straddle: If you believe the market volatility will rise in the next weeks a long straddle might be the right option strategy for you.You buy a long put as well as a long call. In case the volatility rises the option prices generally rises. So no matter in which direction the market heads your options prices will rise.