When is a strategy typically executed?

The execution of a strategy occurs during the "Save and Run" option in strategy testing. This is because "Save and Run" triggers the strategy to process the current input data using the defined rules and components, allowing for a simulation of how the strategy would perform in a real-time scenario.

This functionality is essential for testing and validating the effectiveness of the strategy before it is implemented in a live environment. It allows practitioners to evaluate the outcome based on the latest configurations and adjustments made within the strategy, ensuring that it meets the desired objectives and performs as expected.

The context of other choices underscores the distinct purpose of the "Save and Run" option. Saving a strategy does not execute it; the strategy merely gets stored without processing input data. Selecting the Results component pertains to examining outputs rather than executing the strategy. Similarly, updating a component does not trigger an automatic execution of the strategy until it is run explicitly during testing. Therefore, the correct answer highlights the specific action of executing the strategy in a testing context, which is vital for effective decision-making processes.