Buy a call option for leveraged upside exposure with limited risk.
Buy a put option to profit from downward price movement.
Sell a call option to collect premium with unlimited upside risk.
Sell a put option to collect premium with the risk of assignment if price drops.
Buy a call and a put at the same strike to profit from major movement in either direction.
Buy an OTM call and an OTM put to profit from large price movements.
Sell a call and put at the same strike to profit from tight price movement; very high risk.
Sell an OTM call and put to profit from low volatility with unlimited risk.
Sell a lower-strike call and buy a higher-strike call to express a mildly bearish outlook with limited risk.
Buy a lower-strike call and sell a higher-strike call to take a defined-risk bullish position.
Buy a higher-strike put and sell a lower-strike put for a limited-risk bearish trade.
Sell a higher-strike put and buy a lower-strike put to profit from stable or rising prices.
Sell an ATM call and put while buying OTM wings to profit from low volatility.
Sell OTM call and put spreads simultaneously to benefit from low volatility.
Buy an ATM call and put while selling OTM wings to profit from a sharp move in either direction with defined risk.
Buy OTM call and put spreads to profit from a large breakout beyond a defined range.
Buy a call butterfly to profit from the underlying expiring near a specific strike.
Sell a call butterfly to benefit from the underlying moving away from the center strike.
Buy a put butterfly to profit if the underlying settles near a target price.
Sell a put butterfly to profit from a strong move away from the middle strike.
Buy a call condor to benefit from the underlying expiring within a specific upper price range.
Sell a call condor to profit from price moving beyond a defined upper range.
Buy a put condor to profit from the underlying expiring within a defined lower price range.
Sell a put condor to benefit from a move outside a defined lower price range.
Combine a long call and short put at the same strike to replicate long stock exposure.
Combine a short call and long put at the same strike to replicate short stock exposure.
Buy an ITM call and an ITM put to profit from a significant move in either direction.
Sell an ITM call and an ITM put to profit from minimal price movement with high risk.