The two-way opening strategy can only make money if the fluctuation is large enough, otherwise it will be lost. Therefore, it is obviously not a "steady profit". The advantage of buying options in two ways is that you don't have to bet on the direction, as long as you bet on the volatility, and you can make money if you rise enough or fall enough. But the disadvantage is that you have lost a lot at the same time. For example, if you buy a call option and the stock price does not move when it expires, you lose a premium of the call option. But if you bet at both ends, you will lose a bullish and a bearish premium when the stock price does not move, and in fact the risk will increase. Therefore, there are gains and losses, and the risks and benefits of financial markets are directly proportional.

1. The fluctuation is big enough to make money, and everything else has to be paid. Therefore, it is obviously not a "steady profit". The advantage of buying options in two ways is that you don't have to bet on the direction, as long as you bet on the volatility, and you can make money if you rise enough or fall enough. But the disadvantage is that you have lost a lot at the same time. For example, if you buy a call option and the stock price does not move when it expires, you lose a premium of the call option. But if you bet at both ends, you will lose a bullish and a bearish premium when the stock price does not move, and in fact the risk will increase.

2. Therefore, what you gain will be lost. In the financial market, risk and return are in direct proportion. Another problem is that the volatility that has been considered in option pricing has been fully reflected in the price. In other words, the higher the volatility, the higher the option price (because it is more likely to make money). Only when the actual volatility is greater than the expected volatility when the option is priced can the buyer make money. The specific relationship can be seen in Black-Scholes model. There is a structured product called win-win certificate, which is similar to this strategy, but it will not be structured as you described, because the cost of betting at both ends is too high. Generally, the income at both ends will be given up (that is, the income cap) to reduce costs.

4. Call option means that the option buyer has the right to buy commodities or futures contracts with the agreed price and quantity from the option seller at a certain price within a specified time, but does not undertake the purchase obligation. Call option is also called long option, deferred option and call option. Investors are generally optimistic about buying call options when the price of gold rises, while sellers expect the price to fall. When the subject matter of the call option rises, the profit is unlimited (there is no limit to the rise); When the subject matter of the call option falls, the loss is limited (only the loss premium).