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I believe it was YOU who completely misunderstood how the study was skewed to reach the conclusion they wanted. When you do a straddle, you can profit from two things: vega and gamma. Both are important factors, and both can contribute to straddle profitability. When you start a straddle with say 100 strike when the stock is at 100, and the stock moves to say 110, you have a very good chance to be profitable because gamma works for you. However, if the stock is at 100, you start with 110 straddle and the stock moved to 110, your chances of profitability are slim to none. When you buy a straddle, you want the stock to move away from your strike, not towards the strike. You LOSE the maximum amount of money if the stock moves to the strike. Their study was not " an attempt to profit from a move away from the strike price". Exactly the opposite: they tried to profit from a move towards the strike price. By doing the study this way, they dramatically reduced the chances of the straddle to be profitable. The segment has been removed from tastytrade website, which shows that they realized how absurd it was. . We will let tastytrade to do their "studies" while we are making money with real trading not studies. We traded 18 straddles in 2016 with winning ratio of 72%. In 2017 we already closed 4 out of 4 winners. We do it by implementing the strategy the way it should be implemented (choice of stocks, entering at right prices etc.) In fact, we are very grateful to tastytrade followers for providing us a fresh supply of sellers for our straddles.