Options Strategies Library
Explore 24 options strategies with complete guides, examples, risk profiles, and one-click access to the strategy builder. From simple long calls to complex iron condors.
Bullish Strategies (9)
Long Call
Buy a call option to profit from rising stock prices with limited risk.
Short Put
Sell a put option to collect premium when you're bullish or neutral on a stock.
Bull Call Spread
Buy a lower strike call, sell a higher strike call. Defined-risk bullish trade.
Bull Put Spread
Sell a higher strike put, buy a lower strike put. Collect premium on bullish bets.
Call Butterfly
Buy 1 low call, sell 2 middle calls, buy 1 high call. Profit if stock lands at middle strike.
Call Ratio Spread
Buy 1 ATM call, sell 2 OTM calls. Profit from moderate moves up with unlimited upside risk.
Call Backspread
Sell 1 ATM call, buy 2 OTM calls. Profit from large bullish moves.
Call Calendar Spread
Sell short-term call, buy longer-term call at same strike. Profit from time decay.
Call Diagonal Spread
Sell short-term OTM call, buy longer-term ITM call. Covered-call-like structure.
Bearish Strategies (9)
Long Put
Buy a put option to profit from falling stock prices with limited risk.
Short Call
Sell a call option to collect premium when you expect a stock to stay flat or fall.
Bear Put Spread
Buy a higher strike put, sell a lower strike put. Defined-risk bearish trade.
Bear Call Spread
Sell a lower strike call, buy a higher strike call. Collect premium on bearish bets.
Put Butterfly
Buy 1 high put, sell 2 middle puts, buy 1 low put. Profit if stock lands at middle strike.
Put Ratio Spread
Buy 1 ATM put, sell 2 OTM puts. Profit from moderate moves down with increased risk below.
Put Backspread
Sell 1 ATM put, buy 2 OTM puts. Profit from large bearish moves.
Put Calendar Spread
Sell short-term put, buy longer-term put at same strike. Profit from time decay.
Put Diagonal Spread
Sell short-term OTM put, buy longer-term ITM put. Bearish diagonal income.
Neutral / Volatility Strategies (6)
Long Straddle
Buy an ATM call and put. Profit from large moves in either direction.
Short Straddle
Sell an ATM call and put. Profit when stock stays flat. Unlimited risk.
Long Strangle
Buy an OTM call and put. Cheaper than straddle. Needs bigger move to profit.
Short Strangle
Sell OTM call and put. Wider profit range than straddle. Unlimited risk.
Iron Condor
Sell OTM call spread + OTM put spread. Profit when stock stays in range.
Iron Butterfly
Like iron condor but short strikes are ATM. Higher premium, narrower profit range.