Strategy Catalog

Every strategy,
explained simply.

Payoff diagrams, breakeven points, max profit/loss, and when to use each strategy, all in one place.

📈 Bullish
Long Call Options Strategy
Buy a call option expecting the market to rise above the strike price before expiry.
Max Profit
Unlimited
Max Loss
Premium paid
Level
Beginner
Ideal for: Strong bullish view
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📉 Bearish
Long Put Options Strategy
Buy a put option expecting the market to fall below the strike price before expiry.
Max Profit
Strike − Premium
Max Loss
Premium paid
Level
Beginner
Ideal for: Strong bearish view
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⚖️ Bullish
Bull Call Spread Options Strategy
Buy a lower strike call, sell a higher strike call. Reduces cost but caps profit.
Max Profit
Width − Net Debit
Max Loss
Net Debit
Level
Intermediate
Ideal for: Moderately bullish view
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📊 Bearish
Bear Put Spread Options Strategy
Buy a higher strike put, sell a lower strike put. Defined risk bearish strategy.
Max Profit
Width − Net Debit
Max Loss
Net Debit
Level
Intermediate
Ideal for: Moderately bearish view
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🤸 Volatile
Long Straddle Options Strategy
Buy ATM call and put. Profit if market makes a large move in either direction. Great for event plays.
Max Profit
Unlimited
Max Loss
Total Premium
Level
Intermediate
Ideal for: Pre-event, expecting big move
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🎯 Neutral
Short Straddle Options Strategy
Sell ATM call and put. Profit from time decay when market stays flat. High risk strategy.
Max Profit
Total Premium
Max Loss
Unlimited
Level
Advanced
Ideal for: Low volatility, range-bound market
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🦋 Volatile
Long Strangle Options Strategy
Buy OTM call and OTM put. Cheaper than straddle, needs larger move to profit.
Max Profit
Unlimited
Max Loss
Total Premium
Level
Intermediate
Ideal for: Expecting large move, lower cost
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🦅 Neutral
Iron Condor Options Strategy
Sell OTM call spread + sell OTM put spread. Profit from range-bound markets with defined risk.
Max Profit
Net Credit
Max Loss
Width − Credit
Level
Advanced
Ideal for: Range-bound, high IV environment
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💰 Bullish
Bull Put Spread Options Strategy
Sell a higher strike put, buy a lower strike put. Collect credit if market stays above sold put.
Max Profit
Net Credit
Max Loss
Width − Credit
Level
Intermediate
Ideal for: Mildly bullish, high IV
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🔻 Bearish
Bear Call Spread Options Strategy
Sell a lower strike call, buy a higher strike call. Collect credit if market stays below sold call.
Max Profit
Net Credit
Max Loss
Width − Credit
Level
Intermediate
Ideal for: Mildly bearish, high IV
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🛡️ Neutral
Covered Call Options Strategy
Hold underlying (or futures) and sell OTM call to collect premium. Reduces cost basis.
Max Profit
Premium + Move to Strike
Max Loss
Holdings decline
Level
Intermediate
Ideal for: Existing long position, moderate view
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📅 Neutral
Calendar Spread Options Strategy
Sell near-term option, buy far-term option at same strike. Profit from faster near-term theta decay.
Max Profit
At expiry of front month
Max Loss
Net Debit
Level
Advanced
Ideal for: Low IV, stable spot near strike
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