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I'm not selling much premium. Imagine a regular long only strangle, i would buy to open a call at 100 for 1.00 at the same time i buy a put for 90 at 1.00. Instead of that what i'll do is still buy the long call for 100 strike and costs 1.00. But on the opposite side i'll use a debit spread that pays out 1.00 but only costs 0.15 to open. So the whole position costs 1.15 instead of 2.00. If the bias side hits i make a great return, if my bias side is wrong the spread will cover the opposite side leaving me losing 0.
