Novice
Basic
Long Call
Long Put
Income
Covered Call
Cash-Secured Put
Other
Protective Put
Intermediate
Credit Spreads
Bull Put Spread
Bear Call Spread
Neutral
Iron Butterfly
Iron Condor
Long Put Butterfly
Long Call Butterfly
Calendar Spreads
Calendar Call Spread
Calendar Put Spread
Diagonal Call Spread
Diagonal Put Spread
Debit Spreads
Bull Call Spread
Bear Put Spread
Directional
Inverse Iron Butterfly
Inverse Iron Condor
Short Put Butterfly
Short Call Butterfly
Straddle
Strangle
Other
Collar
Advanced
Naked
Short Put
Short Call
Neutral
Short Straddle
Short Strangle
Long Call Condor
Long Put Condor
Ratio Spreads
Call Ratio Backspread
Put Broken Wing
Inverse Call Broken Wing
Put Ratio Backspread
Call Broken Wing
Inverse Put Broken Wing
Income
Covered Short Straddle
Covered Short Strangle
Directional
Short Call Condor
Short Put Condor
Ladders
Bull Call Ladder
Bear Call Ladder
Bull Put Ladder
Bear Put Ladder
Other
Jade Lizard
Reverse Jade Lizard
Expert
Ratio Spreads
Call Ratio Spread
Put Ratio Spread
Synthetic
Long Synthetic Future
Short Synthetic Future
Synthetic Put
Arbitrage
Long Combo
Short Combo
Other
Strip
Strap
Guts
Short Guts
Double Diagonal
Long Call
BullishUnlimited ProfitLimited Loss
A simple bullish strategy for beginners that can yield big rewards. A call gives the buyer the right, but not the obligation, to buy the underlying stock at strike price A. However, you can simply buy and sell a call before it expires to profit off the price change.
The value of the option will decay as time passes, and is sensitive to changes in volatility. Your maximum loss is capped at the price you pay for the option.
Buy a call at strike A

Build
Novice
Basic
Long Call
Long Put
Income
Covered Call
Cash-Secured Put
Other
Protective Put
Intermediate
Credit Spreads
Bull Put Spread
Bear Call Spread
Neutral
Iron Butterfly
Iron Condor
Long Put Butterfly
Long Call Butterfly
Calendar Spreads
Calendar Call Spread
Calendar Put Spread
Diagonal Call Spread
Diagonal Put Spread
Debit Spreads
Bull Call Spread
Bear Put Spread
Directional
Inverse Iron Butterfly
Inverse Iron Condor
Short Put Butterfly
Short Call Butterfly
Straddle
Strangle
Other
Collar
Advanced
Naked
Short Put
Short Call
Neutral
Short Straddle
Short Strangle
Long Call Condor
Long Put Condor
Ratio Spreads
Call Ratio Backspread
Put Broken Wing
Inverse Call Broken Wing
Put Ratio Backspread
Call Broken Wing
Inverse Put Broken Wing
Income
Covered Short Straddle
Covered Short Strangle
Directional
Short Call Condor
Short Put Condor
Ladders
Bull Call Ladder
Bear Call Ladder
Bull Put Ladder
Bear Put Ladder
Other
Jade Lizard
Reverse Jade Lizard
Expert
Ratio Spreads
Call Ratio Spread
Put Ratio Spread
Synthetic
Long Synthetic Future
Short Synthetic Future
Synthetic Put
Arbitrage
Long Combo
Short Combo
Other
Strip
Strap
Guts
Short Guts
Double Diagonal
Long Call
BullishUnlimited ProfitLimited Loss
A simple bullish strategy for beginners that can yield big rewards. A call gives the buyer the right, but not the obligation, to buy the underlying stock at strike price A. However, you can simply buy and sell a call before it expires to profit off the price change.
The value of the option will decay as time passes, and is sensitive to changes in volatility. Your maximum loss is capped at the price you pay for the option.
Buy a call at strike A
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Flow

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GLD BWB Trade Look in

March 4, 2026

Video description: Just checking in to show how a broken wing butterfly moves.

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Options involve a high degree of risk and are not suitable for all investors. OptionStrat is not an investment advisor. The calculations, information, and opinions on this site are for educational purposes only and are not investment advice. Calculations are estimates and do not account for all market conditions and events.

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