Strategy
Database

A directional bullish play using leverage. Fixed risk (the premium paid) with infinite upside potential. Ideal for high conviction price moves.

A directional bearish play. Fixed risk with substantial profit potential as the underlying price drops. Better than shorting stock as risk is capped.

Selling a call without owning the stock. Collects premium but carries unlimited risk if the stock price rockets. Typically an institutional or hedged play.

Selling a put to collect premium. Maximum profit is the premium received, while risk is substantial if the stock crashes. Often used for entry.

Sell a put while holding enough cash to buy the stock if assigned. The most popular way to 'get paid to buy stock' at a discount.

The baseline for all trading. Linear risk and reward. Owning the underlying asset directly without leverage or time decay.

The quintessential income strategy. Earn premium by selling upside while holding the underlying stock. Best for neutral-to-slightly bullish outlooks.

Insurance for your portfolio. Hold stock while buying a put to floor your losses. Provides peace of mind during market uncertainty.

Lower cost bullish play. Buy a call and sell a further OTM call. Limits upside but significantly increases the probability of profit.

Cost-efficient bearish exposure. Buy a put and sell a further OTM put. Great for navigating downward trends with reduced capital outlay.

The 'Credit Put Spread'. Sell a put and buy a lower strike put. Profit as long as the stock stays above your short strike.

The 'Credit Call Spread'. Sell a call and buy a higher strike call. Capitalize on the stock staying below a specific level.

A pure play on volatility. Buy both a call and a put at the same strike. You profit if the market moves significantly in *either* direction.

A cheaper volatility bet than a straddle. Buy OTM call and OTM put. Requires a larger move to profit but offers a better risk/reward ratio.

Boxed-in risk and reward. Protective put financed by selling a covered call. Locks the stock in a tight price band for minimum stress.

A combination of a long call and short put (or vice versa). Replicates stock exposure with minimal upfront cost but carries assignment risk.

The king of range-bound trading. Sell a put spread and a call spread. Profit if the stock stays within a 'safe zone' until expiration.

A higher-risk, higher-reward range play. ATM short straddle with protective wings. Offers massive credit for narrow price stability.

Profit from time. Sell near-term and buy long-term options at the same strike. Wins as short-term options decay faster than long-term ones.

A bullish-to-neutral time play using calls. Benefits from time decay and rising volatility in the back-month option.

A bearish-to-neutral time play using puts. Ideal for slow-moving stocks or when you expect a bounce after a period of consolidation.

The modern income play. Sell a put and a call spread. Structured so there is no risk to the upside, only to the downside.

Mirror of the Jade Lizard. Sell a call and a bull put spread. Eliminates downside risk while collecting premium from a neutral-to-bearish stance.

A highly aggressive income strategy. Short a straddle while owning the stock. Triples your income potential but carries heavy downside risk.

A wider version of the covered straddle. Sell an OTM call and OTM put while holding stock. Higher probability of profit with significant premium.

The precision instrument. Target a very specific price point at expiration. Extremely high potential ROI if you're right on the pin.

A low-cost, neutral strategy using calls. Maximum profit at the center strike with very limited risk.

A neutral strategy using puts. Identical payoff to the call version but sometimes preferred due to skew or dividend considerations.

A bet against stability. You profit if the stock moves sharply away from the center strike in either direction.

A volatility play using puts. Profit from a large move while maintaining defined risk.

A wider target than a butterfly. Uses four calls or four puts to create a flat profit plateau across a range of prices.

Four-legged call spread that profits from a specific price range. Wider profit zone than a butterfly but lower max ROI.

The put-based version of the long condor. Used when put premiums offer better risk/reward for a range-bound play.

A net credit strategy that profits from a breakout. You win if the stock ends outside the inner range.

Profit from volatility using puts. Defined risk breakout strategy.

Complex spread using different strikes AND expirations. A versatile play that can be tailored for both income and direction.

A bullish setup that combines a vertical spread with a calendar. Benefits from theta decay and positive delta.

A bearish setup that profits from a slow move down. Combines long-term protection with short-term premium collection.

The ultimate range play. A combination of a diagonal call spread and a diagonal put spread. Profits from low volatility.

Advanced leverage. Sell more options than you buy. Creates a 'free' directional play or credit, but carries significant tail risk.

Sell more calls than you buy. Profits from a slight move up or neutral action, but carries unlimited risk to the upside.

Sell more puts than you buy. Profits if the stock stays flat or moves up slightly. Heavy risk if the stock crashes.

Buy more calls than you sell. A high-volatility play that profits from a massive rally while having limited downside risk.

Buy more puts than you sell. The classic 'crash' play. Profits exponentially as the stock falls, with fixed risk to the upside.

Specialized butterfly with one wing skipped. Usually creates a 'no-risk' side to the trade in exchange for a wider loss zone.

A butterfly variant that eliminates upside risk. Ideal when you are neutral-to-bullish and want to collect a credit.

Eliminates downside risk. A bearish-to-neutral butterfly that pays you to wait for a specific price target.

A net debit version of the broken wing call butterfly. Targets a specific 'pop' in price with defined risk.

Targets a specific 'dip'. Defined risk play that profits if the stock lands in a narrow bearish zone.

Starts as a bull call spread but adds a short higher-strike call. Increases initial profit potential but adds unlimited upside risk.

A complex bearish strategy that profits from a move down but has a 'trap door' if the stock moves up too much.

A bullish strategy that uses three different put strikes. Profits from a rise in price but has significant downside risk.

The bearish version of the ladder. Defined profit if it falls, but unlimited risk if it falls *too* far.

Buy a call and sell a put at the same strike. Replicates the P&L of owning the stock with much less capital.

Sell a call and buy a put at the same strike. Replicates shorting the stock. High leverage bearish play.

Short stock combined with a long call. Replicates a long put position. Used when put liquidity is low.

Sell an OTM put and buy an OTM call. A bullish play that creates a 'dead zone' in the middle where nothing happens.

Buy an OTM put and sell an OTM call. A bearish play that benefits from high volatility and price drops.

A modified straddle with a bearish bias (2 puts, 1 call). Profits from a large move, but wins bigger if it goes down.

A modified straddle with a bullish bias (2 calls, 1 put). Profits from volatility, favoring the upside.

A straddle using ITM options. Very expensive but has a high delta sensitivity and profits from a volatility explosion.

Selling ITM calls and puts. Collects massive premium but carries extreme risk if the stock moves at all.

A net debit strategy that profits from a breakout. The opposite of an Iron Butterfly; you want a big move.

A defined-risk volatility play. You profit if the stock moves outside of the 'wings' in either direction.

Selling both an ATM call and put. The ultimate 'selling vol' strategy. Wins if the stock goes nowhere. Unlimited risk.

Selling OTM calls and puts. A high-probability income trade that profits from time decay and low volatility.

A directional butterfly variant. Skews the strikes to favor one side while maintaining defined risk and low cost.

Zero Extrinsic Ratio play. Buy deep ITM options to replicate stock with high leverage and zero time decay risk.

Pure arithmetic. A combination of a bull call spread and bear put spread. Used primarily for interest rate arbitrage.

Institutional arbitrage. Long stock + synthetic short option. Used to lock in risk-free rates or dividend captures.

Inverse conversion. Short stock + synthetic long option. Used by market makers to hedge and capture the risk-free rate.