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
BeginnerGet paid to own a stock you already have.
Naked Puts (Cash-Secured Puts)
BeginnerGet paid to agree to buy a stock at a price you like.
The Wheel Strategy
BeginnerSell puts until assigned, sell calls until called away — repeat.
Poor Man's Covered Call (PMCC)
IntermediateA covered call without buying 100 shares first.
Iron Condor
IntermediateProfit when a stock goes nowhere.
Iron Butterfly
IntermediateMaximum credit when the stock lands exactly where you expect.
Long Straddle
IntermediateProfit from a big move — you don't care which direction.
Long Strangle
IntermediateLike a straddle, but cheaper — and needs a bigger move.
Bull Call Spread
BeginnerBet on a stock going up — with a safety net on the cost.
Bear Put Spread
BeginnerBet on a stock going down — at a reduced cost.
Bear Call Spread
IntermediateCollect premium when you expect a stock to stay flat or fall.
Bull Put Spread
IntermediateGet paid to believe a stock won't fall below a level.
Long Call
BeginnerUnlimited upside on a stock move — for a fixed cost.
Long Put
BeginnerProfit when a stock falls — with defined, limited risk.
Collar Strategy
BeginnerProtect your shares from a crash while collecting income.
Married Puts
BeginnerBuy a stock and buy insurance at the same time.
Synthetic Long
AdvancedReplicate owning 100 shares — without actually buying them.
Synthetic Short
AdvancedBet against a stock without the complications of short selling.
Risk Reversal
AdvancedBullish bet funded by selling downside protection.
Synthetic Covered Call
AdvancedCovered call income without owning the actual shares.
Call Ratio Spread
AdvancedProfit from a modest rise — careful if the stock flies too high.
Put Ratio Spread
AdvancedProfit from a modest decline — careful if the stock crashes hard.