Learn Options Strategies

The simplest bullish options trade. You pay a premium for the right to buy shares at the strike price.

The simplest bearish options trade. You pay a premium for the right to sell shares at the strike price.

Own 100 shares and sell a call against them to collect premium income — capping your upside.

Sell a put backed by cash and get paid to wait to buy a stock at a lower price.

Sell a call without owning the stock. High risk — unlimited loss potential if the stock surges.

Sell a put without holding cash to buy the shares. Risk if stock collapses.

Buy a call, sell a higher-strike call. Cheaper than a long call with capped profit.

Buy a put, sell a lower-strike put. Cheaper downside play with capped profit.

Sell a closer option and buy a further OTM option. Collect a net credit upfront.

A LEAPS call acts as a stock substitute while you sell short-term calls against it.

Sell a near-term option and buy a longer-term option at the same strike.

Sell one option, buy two further OTM options. Profits from large directional moves.

Sell an OTM call spread and OTM put spread simultaneously. Profit when the stock stays in a range.

A low-cost, high-reward bet that the stock pins to a specific price at expiration.

Own shares, buy a protective put, sell a covered call. Limits both upside and downside.

Different strikes AND different expirations. A flexible blend of calendar and vertical spreads.

Combine a put diagonal and call diagonal. Profits from time decay and range-bound stock.

Buy a call and put at the same strike. Profit from a big move in either direction.

Buy an OTM call and OTM put. Cheaper than a straddle — needs a bigger move to profit.

Own shares, sell an OTM call AND an OTM put to collect double premium.

Short stock + long call = same risk profile as owning a put.

Short stock + long call + short put. An arbitrage play exploiting put-call parity.