... blending of ratio spreads and calendarspreads. It consists of selling nearby options and buying fewer of a far-ther option. For example, you could sell 4 of the July 40 calls and buy 2 ofthe October ... net credit For example, suppose you initiated a long straddle using options onTextron for December expiration. Textron is trading at 593/4, so you buythe 60 call and the 60 put for 3 each. ... movement.Typically, straddles are bought on options that have a long time to ex-piration. Long-dated options have the highest sensitivity to volatility, orvega, and, therefore, will have the greatest price...