Based on the search results and standard options trading terminology, "STRUT LJC100" appears to be a specific instance of a Short Straddle options strategy, where "LJC100" likely refers to the underlying asset (potentially a stock or index) and its strike price. Here's a detailed breakdown:

1. Structure of a Short Straddle
   - A short straddle involves simultaneously selling a call option and a put option at the same strike price and same expiration date.
   - For "STRUT LJC100", the strike price is 100 (as indicated by "LJC100"). The premiums collected from selling both options define the profit potential and risk .

2. Purpose and Market Outlook
   - Traders use this strategy when anticipating low volatility and minimal price movement in the underlying asset (e.g., LJC100). The goal is for the asset to close exactly at the strike price (100) at expiration, maximizing profits .

3. Profit and Loss Dynamics
   - Max Profit:  
     Limited to the total premium received. For example, if the call premium is 2.10 and the put premium is 2.08, the max profit is 4.18 (achieved if LJC100 closes at 100 at expiration) .
   - Max Loss:  
     - Unlimited upside risk if LJC100 surges (due to the short call).
     - Significant downside risk if LJC100 plummets (capped at "Strike Price - Premium Received," e.g., 100 - 4.18 = 95.82 if LJC100 falls to zero) .
   - Breakeven Points:  
     - Upper Breakeven: Strike Price + Total Premium (e.g., 100 + 4.18 = 104.18).  
     - Lower Breakeven: Strike Price - Total Premium (e.g., 100 - 4.18 = 95.82) .

4. Example Scenario with LJC100
   | Scenario              | Call Option (100-strike) | Put Option (100-strike) | Net Outcome          |  
   | LJC100 closes at 100  | Expires worthless        | Expires worthless       | +4.18 (max profit)  |  
   | LJC100 rises to 110   | Loss: 10 - 2.10 = 7.90  | Expires worthless       | Net loss: 7.90 - 2.08 = 5.82 |  
   | LJC100 falls to 90    | Expires worthless        | Loss: 10 - 2.08 = 7.92 | Net loss: 7.92 - 2.10 = 5.82 |  

5. Key Risks
   - Unlimited loss potential if LJC100 rallies sharply.  
   - Requires precise timing, as unexpected volatility before expiration can trigger losses.  
   - Suitable only for experienced traders due to high risk .

Clarification on Terminology
- "STRUT" is likely a shorthand or proprietary term for a short straddle strategy.  
- "LJC100" specifies the underlying asset (e.g., a stock ticker "LJC") and the strike price of 100.  

For exact details on "LJC100" (e.g., the asset it represents), additional context such as a trading platform or broker-specific documentation would be needed. The mechanics, however, align with the standard short straddle strategy described in the search results.