Long Call Spread — Option Strategies

Single Leg

Long Call Option Short Call Option Long Put Option Short Put Option

Vertical Spreads

Long Call Spread Short Call Spread Long Put Spread Short Put Spread

Volatility

Long Straddle Short Straddle Long Strangle Short Strangle Long Guts Short Guts

Butterfly

Long Call Butterfly Short Call Butterfly Long Put Butterfly Short Put Butterfly

Ratio / Backspread

Call Backspread Call Ratio Vertical Spread Put Backspread Put Ratio Vertical Spread

Stock + Option

Covered Call Protective Put

Synthetic

Long Synthetic Short Synthetic

Parameters

Long Call Spread

Payoff & P&L Diagram

Theoretical P&L

Payoff at Expiration

Break-even