Strategy Builder

Buy 100 shares, sell 1 call - generate income from stock position

Buy 100 shares, buy 1 put - protect against downside risk

Buy lower call, sell higher call - limited profit, limited risk

Sell higher put, buy lower put - credit spread with defined risk

Buy call + put at same strike - profit from big moves in either direction

Buy OTM call + OTM put - cheaper than straddle, wider breakevens

Sell OTM call spread + sell OTM put spread - profit from low volatility

Sell ATM strangle + buy OTM strangle - defined risk, high probability

Buy longer-dated call, sell shorter-dated call at same strike - profit from time decay