Options Trading Strategies

Generate monthly income on stocks you own.

Wheel Strategy

Sell puts → get assigned → sell calls. Systematic income.

Credit Spreads

Sell spreads for credit with defined risk.

Iron Condor

Profit from range-bound markets with defined risk.

Jade Lizard

Short put + short call spread. No upside risk.

Short Strangle

Sell OTM put and call. High premium, undefined risk.

Directional Strategies

Profit from bullish or bearish moves with defined risk.

Debit Spreads

Bull call or bear put spreads with defined risk.

Bull Put Spread

Credit spread for bullish outlook. High probability.

Synthetic Long

Stock-like exposure with less capital.

Diagonal Spread

Different strikes AND expirations. Rolling income.

Ratio Spread

Buy 1, sell 2+. Low cost with directional bias.

Neutral Strategies

Profit when you expect the underlying to stay in a range.

Butterfly Spread

High R:R ratio when expecting price at specific strike.

Condor Spread

Wider profit zone than butterfly.

Calendar Spread

Profit from time decay differential.

Broken Wing Butterfly

Asymmetric butterfly with directional bias.

Double Diagonal

Two diagonals for neutral theta positive position.

Volatility Strategies

Profit from big moves in either direction or volatility changes.

Long Straddle

Buy ATM call and put. Profit from big moves.

Long Strangle

Cheaper than straddle, needs bigger move.

Back Spread

Low cost with huge upside on explosive moves.

Short Straddle

Max premium but unlimited risk. Experts only.

Hedging & Protection

Protect existing positions from downside risk.

Protective Put

Buy puts as insurance on stocks you own. Limited downside, unlimited upside.

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Collar Strategy