FTURES magazine ha d a brief article about these, suggesting that their useful for expectations of short term IV spikes (buy near month strangle and sell more OTM further month strangle). I've seen them called double diagonals and calendar strangles. Whatever. I've used (ratioed) reverse positions like these thru earnings but never with the intent of just chasing the IV expansion. With IV beginning to expand as much as 2-4 weeks before, I'm wondering how effective they'd be? I imagine that even tho the far month decay offset is less, a saving grace might be movement to/past a long strike. Yeh, I know, do the work and paper trade Thoughts?