Long Strangle Option Strategy - Introduction

[alexma]

Gav, what does it mean "buy 19 shares to make delta neutral"? I hear this second time, but have no idea how its technicaly could be done. As I understand one contract is always 100 shares and could not be split.

[sergeyeremenko]

Thanks! What's your opinion on a strategy of buying long strangle 6+ months out, one month before earnings (min IV rank/percentile)? Exit on earnings day, or earlier after significant price movement. The idea is to benefit from potential price movement or IV spike after few weeks