Last time somebody asked this questions the answers were "Who cares?" and "Get a book." It's basically just a short straddle with a UL in between. 2 x 1 (or 1 x 2 depending on how you look at it.) The idea is I'm long term bullish but not expecting anything spectacular short term. So from the top down it's short 2 otm calls long 1 ul short 2 otm puts I know I'll get hurt if ul gets close to strike, but that's a risk I'm willing to take. All I want to know is if there's a name for it.