Options Strategies on Gigatrader

There are 13 available strategies offered in GigaTraders options widget

Single:  One option contract only (long call, short call, long put, or short put) 

Vertical:  Buy and sell the same option type (calls or puts) with different strikes and the same expiration.   

Straddle:  Buy a call and a put with the same strike and expiration.  

Strangle:  Buy an OTM call and an OTM put with the same expiration but different strikes. 

Ratio:  Unequal number of long and short options. Example: sell 1 call, buy 2 calls. 

Combo:  Any combination of a long call and short put or vice versa on different strikes to create a specific risk/reward profile. Often refers to a synthetic long or short stock position. 

Synthetic:  Uses options to replicate stock ownership. Example: Long Call + Short Put at same strike/expiration = Synthetic Long Stock. 

Covered:  Own stock and sell an option against it. Example: Covered Call = Long Stock + Short Call. 

Calendar:  Buy and sell the same strike with different expirations. Usually sell near-term, buy longer-term. 

Diagonal:  Like a calendar spread but with different strikes and different expirations. 

Butterfly:  Uses three strikes to profit if the underlying stays near a target price. Can be built with calls or puts.  

Condor: Similar to a butterfly but uses four strikes, creating a wider profit zone.   

Iron Condor:  Combination of a bull put spread and bear call spread. Receives a credit and profits if price stays within a range.