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We note the straddle traded to the middle of the market but was closer to the offer, which means the transaction is more probably a long straddle, but does not rule out the possibility the investor enacted a short straddle.
A long straddle would be entered in the anticipation of a big price move, such as at the apex-line of a symmetrical triangle (for technical analysts), or at rumors of a takeover failure, etc. (for fundamental analysts).
If you are following the creation of a symmetrical triangle pattern (for technical traders, don't ask), then enter a long straddle at the standard deviation (the apex line), unless you are anticipating a break soon.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com