Learn Options Trading

Options Strategy Guides

Plain-English explanations of every major options strategy — from beginner-friendly to advanced. Each guide includes real examples, risk profiles, and a direct link to find live opportunities.

Covered Calls

Beginner

Get paid to own a stock you already have.

Naked Puts (Cash-Secured Puts)

Beginner

Get paid to agree to buy a stock at a price you like.

The Wheel Strategy

Beginner

Sell puts until assigned, sell calls until called away — repeat.

Poor Man's Covered Call (PMCC)

Intermediate

A covered call without buying 100 shares first.

Iron Condor

Intermediate

Profit when a stock goes nowhere.

Iron Butterfly

Intermediate

Maximum credit when the stock lands exactly where you expect.

Long Straddle

Intermediate

Profit from a big move — you don't care which direction.

Long Strangle

Intermediate

Like a straddle, but cheaper — and needs a bigger move.

Bull Call Spread

Beginner

Bet on a stock going up — with a safety net on the cost.

Bear Put Spread

Beginner

Bet on a stock going down — at a reduced cost.

Bear Call Spread

Intermediate

Collect premium when you expect a stock to stay flat or fall.

Bull Put Spread

Intermediate

Get paid to believe a stock won't fall below a level.

Long Call

Beginner

Unlimited upside on a stock move — for a fixed cost.

Long Put

Beginner

Profit when a stock falls — with defined, limited risk.

Collar Strategy

Beginner

Protect your shares from a crash while collecting income.

Married Puts

Beginner

Buy a stock and buy insurance at the same time.

Synthetic Long

Advanced

Replicate owning 100 shares — without actually buying them.

Synthetic Short

Advanced

Bet against a stock without the complications of short selling.

Risk Reversal

Advanced

Bullish bet funded by selling downside protection.

Synthetic Covered Call

Advanced

Covered call income without owning the actual shares.

Call Ratio Spread

Advanced

Profit from a modest rise — careful if the stock flies too high.

Put Ratio Spread

Advanced

Profit from a modest decline — careful if the stock crashes hard.