I have been playing with option strategies in order to understand the advantages/drawbacks of all of them.
Then I realized this type of strategy is not so advertised in the web and cannot find any "academic" name for it.
The strategy consists in: a) buy 2 deep OTM calls b) buy 2 deep OTM puts c) sell 1 OTM call d) sell 1 OTM put
It looks like a reverse Batman strategy with no capped profit (you gain from low and high volatility while losing from medium volatility).
Is this replicable in real world? Do we have a name for it?