Strategies

Payoff diagram of a butterfly spread showing a symmetric tent-shaped peak beside an asymmetric broken wing butterfly curve

Strategies

Butterfly Spread and Broken Wing Butterfly

You think MSFT finishes the next two weeks right around $420, and you want to get paid for being right about the number rather than the direction. A butterfly…

Two payoff diagrams side by side illustrating credit spread vs debit spread risk and reward profiles

Strategies

Credit Spread vs Debit Spread: When to Use Each

You have a view on NVDA into next month and two tickets open on the screen. One buys the 185 call and sells the 195 against it, costing you money up front. The…

Payoff diagram for a call credit spread, with a flat profit plateau on the left stepping down to a capped loss on the right

Strategies

Call Credit Spread (Bear Call Spread) Explained

You think a stock has run too far, but you don't want to pay for a put and then watch time decay eat the position while the chart drifts sideways. That's the…

Payoff diagram of an iron butterfly, with a sharp profit peak at the shared short strike and losses capped by the long wings.

Strategies

Iron Butterfly Strategy Explained

A stock keeps stalling at the same price, implied volatility is elevated, and you want to get paid for it going nowhere. That's the setup an iron butterfly is…

Payoff diagram for a long strangle, with a flat loss zone between the two strikes and profit rising in both directions

Strategies

Strangle Strategy: Long and Short Strangles

Earnings are two days away. You think NVDA is going to move hard, you just have no idea which way. Buying a call means being wrong half the time. Buying a put…

Payoff diagram of a put credit spread showing a flat profit zone above the short strike and a capped loss below the long strike

Strategies

Put Credit Spread (Bull Put Spread) Explained

AMD sells off for three sessions, stabilizes around a level it has bounced from twice before, and you think the worst of it is over. You don't need a rally. You…

Illustration of a cash secured put, with a reserved stack of cash sitting under a price chart and a strike level marked below the current price

Strategies

Cash Secured Put: How It Works

You like AMD, but not at $160. Selling a put at the $150 strike, with enough cash parked to actually buy the 100 shares if you get assigned, pays you a premium…

Payoff diagram of an iron condor, with a flat profit plateau between the two short strikes and losses capped by the long wings

Strategies

Iron Condor Strategy: Complete Guide

NVDA spends three weeks grinding sideways after earnings, drifting between two prices and refusing to break out. A long call bleeds. A long put bleeds. The iron…

Payoff diagram for a covered call, showing a capped profit line above the strike and losses continuing below the breakeven point

Strategies

Covered Call Strategy Explained

You own 100 shares of something that has gone quiet. It drifts, it pays you nothing while you wait, and you would happily sell at a price 5% above where it…

Two straddle payoff diagrams side by side, a V-shaped long straddle and an inverted-V short straddle

Strategies

Straddle Strategy: Long and Short Straddles

You expect a stock to move hard, you just don't know which way. Earnings are tomorrow, a court ruling lands next week, or a chart has coiled into a range so…

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