Jade Lizard Calculator

Search a symbol to visualize the potential profit and loss for a jade lizard option strategy.

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What is a jade lizard?

BullishLimited ProfitLimited Loss

A slightly bullish strategy combining an out-of-the-money short put and out-of-the-money bear call spread. When created properly, this strategy has no upside risk. It is best suited for oversold stocks with high implied volatility.

ABCProfitLossStock Price (at expiration)
  • Sell a put at strike A
  • Sell a call at strike B
  • Buy a call at strike C