Options Strategies, Explained Simply
Use this library to connect a market outlook with a strategy. Each card gives you the basic idea, the option legs involved, the general risk profile and what happens to the position at expiration.
This page is for education, not a recommendation to trade. Real-world results before expiration are affected by time decay, implied volatility, interest rates, assignment and other factors.
Find a strategy
26 strategies shown
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How to use this library
1. Start with outlook
Decide whether you expect the underlying to rise, fall, stay in a range, or make a large move.
2. Check risk
Look for defined versus potentially large or unlimited risk before studying the mechanics.
3. Test the payoff
Open the Strategy Builder and experiment with strikes, premiums and expiration prices.
Popular strategy guides
Deep-dive pages for common search topics — structure, risk, examples, and Builder links.