Equity Option Strategies

The strategies listed here are a collection of advanced level discussions, each of which includes a hypothetical example to illustrate possible strategy outcomes. These discussions and materials are for educational purposes only and are not intended to provide investment advice. Investment decisions should not be made based upon the examples included in these discussions and materials. Please review the Options Disclosure Document in conjunction with these strategy discussions.

Try our newest Trading Tool: TradeBuilder with Trade Analyzer, an innovative strategy development tool that lets you compare up to 40 option strategies against simply going long or short the stock (or ETF). TradeBuilder not only ranks prospective strategies, but also provides information regarding each strategy's risk profile, and its maximum gain/loss potential.

Stock Repairs

This discussion introduces the stock repair strategy as a means to reduce an investor's break-even price on an existing long underlying stock position without having to assume any additional downside risk.

Iron Condor

This discussion introduces the iron condor strategy.


This discussion introduces the long call butterfly strategy.