A complex ratio spread in which the same type of position is taken in both a put ratio spread and a call ratio spread. To be precise, an investor may long (short) both the put and call ratio spreads. In other words, the investor may short one 50 call (short call) and then long two 60 calls (long calls). Also, the investor may short one 50 put (short put) and then long two 40 puts (long puts).

In general, the wrangle trading strategy comes in two distinct types: long wrangle and short wrangle.