Summary: Tom and Tony take a look at research the team conducted on 2 [standard deviation](https://www.tastytrade.com/tt/learn/standard-deviation) index strangles to see whether the high potential success rate was historically worth the outlier risk. The team analyzed: * SPX & RUT * 2005 - Present * Simulated: * 2 standard deviation [Strangles](https://www.tastytrade.com/tt/learn/strangle) (2.5 delta each leg) * 1 [delta](https://www.tastytrade.com/tt/learn/delta) strangles each leg * [Managed](https://www.tastytrade.com/tt/learn/managing-winners) all trades at 50% or held to [expiration](https://www.tastytrade.com/tt/learn/expiration) As expected, the trades have an extremely high historical success rate. However, the average P/L is rather low given the amount of risk taken for each trade and the amount of buying power required. Tune in for Tom and Tony's personal takeaways!
