A common approach to selling strangles is to choose the strikes so the trade is delta neutral. For example, sell the 16 delta put and the 16 delta call. However, since puts and calls are not priced evenly the puts often trade more expensive than the calls.
In this piece Anton discusses a new approach to strangles; premium neutral. By equating the prices of puts and calls we end up with a skewed strangle. Tune in to hear the results of this creative skewed strangle in both bull and bear markets.