options education
Strategy guides.
Plain-English explanations of the most common options strategies — how they work, when to use them, and how to model them in the dashboard.
strategies
defined risk · neutral
Iron Condor
Collect premium by selling a put spread and a call spread simultaneously. Profits when the underlying stays within a defined range.
income · mildly bullish
Covered Call
Sell a call against shares you own to generate income. Caps your upside but reduces your effective cost basis.
defined risk · bullish
Bull Put Spread
Sell a put and buy a lower-strike put for protection. Collect a net credit that is yours to keep if the stock stays above the short strike.
defined risk · bearish
Bear Call Spread
Sell a call and buy a higher-strike call for protection. Collect a net credit that is yours to keep if the stock stays below the short strike.
defined risk · non-directional
Long Straddle
Buy a call and put at the same strike. Profits from a large move in either direction — ideal before high-impact events like earnings.
defined risk · bullish
Long Call Spread
Buy a call and sell a higher-strike call to reduce your cost. A lower-cost directional bet with capped upside and capped loss.
reference