Straddle strategy is a combination of a call and a put with the same exercise price. It's used when one speculates a big price change but not sure of the direction.

make a straddle for Coca-cola company (symbol: KO)

option expiration = 12/21/2018

strike price = $50

# of contracts = you can choose but # of puts and # of calls must be the same.

If your position on 11/23/2018 displays the correct options, you will get the participation point.