What happens to your account when a long straddle expires ATM? Say stock is $50 at expiration and you're: Long 1 ABC 50 Call Long 1 ABC 50 Put a. Flat or no posittion b. Long 100 shares of ABC c. Short 100 shares of ABC d. Both B and C I thought it would be undetermined. But that isn't available. I picked A, but isn't A same as D? Similarly, what happens when you're short a straddle instead of long? Any help would be greatly appreciated.