Iron Condor

My favorite options strategy is the 16 delta - 5delta iron condor. This is also known as a big boy iron condor, a type of condor that mimics a strangle. In theory, the strangle is really my favorite because it maximizes profits, but with unlimited downside, it can be too dangerous for novice traders. So in practice, the iron condor is my favorite. In the featured chart above, I drew a 16/5 iron condor :)
Disclaimer: I have never traded options.