Start from your market outlook

Pick the view you hold on the underlying, then explore the strategies that express it. Every figure is derived from the payoff engine — nothing is hand-typed.

Market outlook

Complexity

Bullish

You expect the underlying to rise — strategies that profit as the price climbs.

Long Call
A bullish, defined-risk strategy with unlimited upside · payoff at expiration
Max profit
Unlimited ↑
Capital
$500.00
Bull Call Spread
A defined-risk bullish spread — capped gain, capped loss · payoff at expiration
Max profit
$600.00
Capital
$400.00
Bull Put Spread
A defined-risk bullish credit spread — keep the premium if it holds up · payoff at expiration
Max profit
$400.00
Capital
$600.00

Bearish

You expect the underlying to fall — strategies that profit as the price drops.

Long Put
A bearish, defined-risk strategy that profits as the stock falls · payoff at expiration
Max profit
$9,500.00
Capital
$500.00
Bear Put Spread
A defined-risk bearish spread — capped gain, capped loss · payoff at expiration
Max profit
$600.00
Capital
$400.00
Bear Call Spread
A defined-risk bearish credit spread — keep the premium if it stays down · payoff at expiration
Max profit
$400.00
Capital
$600.00

Neutral to bullish

You expect sideways-to-modestly-higher prices — income strategies that lean slightly up.

Covered Call
An income strategy on shares you own — capped upside, premium cushion · payoff at expiration
Max profit
$800.00
Capital
$10,000.00
Cash-Secured Put
Get paid to wait to buy shares — premium income, full cash collateral · payoff at expiration
Max profit
$300.00
Capital
$10,000.00