Strange is winless since joining the elder circuit at the beginning of last year. In fact, he has not won an official event since his second U.S. Open victory in a row in 1989.
'It's the same old same old - you go play golf,' said Strange. 'I'm afforded the opportunity to make a mistake or two because I have the lead. I don't want to do that.'
Champions Tour rookie David Edwards shot a 4-under 68 and is alone in second place at 7-under-par 137. He is also in search of his maiden win on the 50-and-over tour.
Morris Hatalsky fired a 6-under 66 on Saturday and is tied for third place with Craig Stadler, who carded a 5-under 67 in round two. The pair is knotted at minus-6.
Strange wasted little time in breaking into red figures as he birdied the first. He recorded another birdie at four, but dropped a shot at the par-3 eighth.
The two-time U.S. Open winner holed a tricky 5-footer for par on the 10th. He rolled in a 20-foot birdie putt at the 11th, then hit a spectacular approach at the 14th when his 9-iron stopped 2 feet from the stick. He kicked that birdie putt in to tie for the lead at minus-7.
He narrowly missed a 20-foot birdie try at No. 15, then caught fire.
Strange found the fairway at the 16th and hit his approach to 5 feet. He converted that birdie putt to grab the lead, then padded his advantage with 25-foot birdie putt at the par-3 17th.
At the par-5 closing hole, Strange found the fairway off the tee, then reached the green in two. He hit a poor putt from 60 feet that left him with 7 feet for birdie. He drained that putt and now has a three-shot lead with one round to go, an unfamiliar spot as Strange has never owned the lead with one round to play.
'I'm playing well and making a few putts,' acknowledged Strange. 'There's no tricks to it. I'm going to try to play as aggressively as I can play.'
Former Major League Baseball pitcher Rick Rhoden fired a 5-under 67 on Saturday. He is tied for fifth place with D.A. Weibring (69), Bruce Fleisher (69), Hale Irwin (70), two-time winner this season Brad Bryant (70) and leading money winner and last week's Senior British Open champion Loren Roberts (71). That group is knotted at 5-under-par 139.
Overnight leader Andy Bean struggled in the second round. He only managed a one-over 73 and is now in a group tied for 11th place at 4-under-par 140.
Defending champion Tom Purtzer, who was one shot off the lead at the start of round, played poorly on Saturday. He carded a 2-over-par 74 and is tied for 24th at minus-2.