A Summary of Calls and Puts
Summarising Call & Put Options
Summarising Call & Put Options
Background - Forwards Market
The Bear Call Ladder is an options strategy designed for traders who expect significant price volatility but are unsure of the direction. It involves three steps: selling one in-the-money (or near-the-money) call option and buying two out-of-the-money call options, generating an initial net credit. This strategy profits from a sharp price move upward while capping potential losses if the price remains within a certain range.
The Bear Call Spread is a bearish options strategy used when a trader expects a moderate decline or limited upward movement in the underlying asset’s price. It involves selling a call option at a lower strike price and buying another call option at a higher strike price, both with the same expiration date. This setup generates a net credit, which is the maximum profit potential. The strategy limits both profit and loss, making it a relatively safe choice for bearish market conditions.
The Bear Put Spread is a straightforward bearish options strategy for traders anticipating a moderate decline in the price of an underlying asset. It involves two key actions: buying a put option at a higher strike price and selling a put option at a lower strike price. Both options share the same expiration date, resulting in a cost-effective approach compared to buying a single put option.
The Bull Call Spread strategy is ideal for traders with a moderately bullish outlook on an asset. It involves buying a call option at a lower strike price while simultaneously selling another call option at a higher strike price, both expiring on the same date. The premium collected from selling the higher strike call reduces the cost of purchasing the lower strike call, creating a cost-effective strategy. While this approach caps the maximum profit at the higher strike, it also limits the maximum loss to the net premium paid, balancing risk and reward.
The Bull Put Spread is a conservative options strategy used when traders have a moderately bullish outlook on an asset. It involves selling a put option at a higher strike price and buying another put option at a lower strike price, both with the same expiration date. The goal is to collect a net credit while limiting potential losses. The premium received from selling the higher strike put is partially offset by the cost of the lower strike put, capping both the profit and the risk.
Buying a Put Option
Buying a Call Option
The Call Ratio Back Spread is a bullish options strategy used when a trader expects a significant upward move in the underlying asset. It involves selling one in-the-money (ITM) or near-the-money (ATM) call option and buying two out-of-the-money (OTM) call options. This strategy offers unlimited profit potential if the asset price rises sharply, while losses remain limited if the price stays flat or decreases.
Understanding Delta: The Option Greek
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Introducing Futures Contracts
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Greek Calculator: A Comprehensive Guide
Greek Interactions in Options Trading
The Iron Condor is an advanced, market-neutral options strategy that profits from low volatility. It involves four options: selling an out-of-the-money call and an out-of-the-money put while simultaneously buying a further out-of-the-money call and put to limit potential losses. The strategy earns maximum profit if the underlying asset remains between the two middle strike prices at expiration. However, if the price moves outside this range, losses are capped.
Leverage & Payoff
The Long Strangle and Short Strangle strategies are options techniques used for trading based on expectations of significant price movement or stability.
The Long Straddle is a market-neutral options strategy used when a trader expects significant price movement in either direction but is unsure about the direction itself. It involves buying both a call option and a put option on the same underlying asset, with identical strike prices and expiration dates. The strategy profits from large price swings in either direction, while the maximum loss is limited to the total premium paid if the asset remains range-bound.
Margin & M2M
Margin Calculator
Call and Put Options are essential tools for options traders, offering flexibility to profit from market movements.
This chapter explains two essential tools for options trading analysis: Max Pain Theory and the Put-Call Ratio (PCR).
Moneyness of an Option Contract
The Nifty Futures
Open Interest (OI)
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Call Option Basics
Basic Option Terms
Physical Settlement
The Put Ratio Back Spread is a strategic options play used when you expect significant downward movement in the underlying asset but want to limit potential losses if the asset price increases. This strategy involves selling a lower number of put options at a higher strike price and buying a greater number of put options at a lower strike price. The result is often a net credit or minimal cost and offers the potential for substantial profit if the asset declines sharply, while limiting losses on an upward price move.
Selling a Put Option
Selling/Writing a Call Option
The Short Straddle is a neutral options strategy designed to profit from minimal price movement in the underlying asset. It involves selling both a call option and a put option at the same strike price and expiration date. The goal is to collect premiums and profit if the asset remains near the strike price. However, the risk becomes unlimited if the asset makes a significant move in either direction.
Shorting
Theta – Understanding Time Decay
Understanding Volatility
Vega: Sensitivity to Volatility in Options
Volatility and Normal Distribution in Trading
Volatility Applications in Trading