A Buy or Long Straddle is a neutral strategy often employed when the underlying asset is expected to experience significant price swings in either direction—upward or downward. This approach entails purchasing both a call and a put option on the same underlying asset, with same strike prices and expiration dates. This allows the investor to benefit from substantial price movements in either direction, whether the value of the underlying asset soars or plummets. Gains can be achieved if the underlying asset displays enough volatility to surpass the cost of the options. The maximum loss is limited to the total premium paid for acquiring the options. The primary expectation for the investor is that the underlying asset will undergo a significant breakout, regardless of the direction.