In this video, I talked about the long straddle neutral strategy.
The max profit of this trade is undefined and the max risk is the debit you've paid. The ideal setup for this trade is to buy low implied volatility rank. You will be buying an at the money call and put on the same strike.
Low implied volatility rank because it measures the price of the options. If the price is low, it's low implied volatility rank, if it's high, it's high implied volatility rank.