Buy ATM Call and Put. High volatility strategy.

Sell ATM Call and Put. Low volatility strategy.

Buy OTM Call and Put. Cheaper than straddle.

Sell OTM Call and Put. High probability of profit.

Sell OTM Call/Put spread. Defined risk neutral trade.

Sell ATM Straddle, Buy Wings.

Sell ITM Call and Put. High premium collection.

Long ITM/OTM Wings, Short 2 ATM Calls.

Long ITM/OTM Wings, Short 2 ATM Puts.

Bull Call Spread + Bear Call Spread. Capped risk/reward.

Bull Call Spread + Bear Put Spread. Arbitrage strategy.

Bear Put Spread + Bull Put Spread. Capped risk/reward.