Payout diagrams help traders visualize the profit and loss of an option strategy at expiration. Get started by learning the payout diagrams for long call, long put, short call, and short put and identify the breakeven point at expiration for each.

OI Adjunct Faculty Instructor Rich Excell discusses different types of spread strategies, how to construct them, and how to leverage spreads to manage risk in a portfolio. Rewatch the class at your own pace.

Whether it's Income Generation, Protection, or Efficient Exposure, there's an option strategy to suit your investment goals. Free account required.