Reverse Jade Lizard Calculator

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

Loading symbols...

What is a reverse jade lizard?

BearishLimited ProfitUnlimited Loss

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

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