Hello! Long Straddle is 1.Long 1 Call 2.Long 1 Put with same strike/expiration. I suppose you could construct a delta-gamma neutral, long vega position that is 1.Long 'x' Calls frontmonth 2. Short 'x' Calls backmonth in a ratio for Gamma Neutrality then 3. Long/Short underlying for Delta Neutrality I was wondering if a position that is constructed to be delta-gamma neutral, long vega, is MORE EFFICIENT than a long straddle if you want to isolate and play long vega??? I searched and there are some good reads from dmo and others in the archives, but I was wondering specifically about its efficiency as opposed to a long straddle/strangle. From what I've read on options so far, long straddle/strangle is the most common referenced (well, as far as internet goes) position to play long vega. I was looking for other possibilities. My example doesn't take into account theta and commissions of constantly readjusting, etc. Just wondering about efficiency and if you can isolate vega. What I'd like to do is trade Apple long vega going into earnings at end of July in my papertrade journal, but I'm hoping I could get some comments first.