Jeff likes to speculate. He thinks the price of JKL stock is going to move sharply, but he is unsure which way it will move. Which strategy makes sense?

Explanations

A Long straddle is buying an at the money call and at the money put simultaneously. Traders buy this when expecting a sharp movement but are unsure of the direction. long butterfly is a range bound trade or one directional trade, short strangle is a range bound trade and long puts is a trade that a stock is going down