A "rolling straddle" in options trading is a strategy where you periodically close and re-open a straddle with a new, later expiry date, essentially resetting your bet on a significant price movement.
ATM (at-the-money) premium decay refers to the rapid erosion of an option's value over time, particularly for options whose strike price is close to the current price of the underlying asset, as they have the most extrinsic value to lose.
