Strategy Library · 26 guides

Every options strategy, in plain English

From your first long call to a four-leg iron condor — payoff diagrams, setup mechanics, Greeks, real-world examples, and which stocks fit each setup today.

BeginnerIntermediateAdvanced

What are option strategies?

An option strategy is a deliberate combination of one or more option contracts — sometimes paired with shares — designed to express a specific market view: bullish, bearish, neutral, or volatility-driven. Where a stock trade only profits if the price moves the right way, option strategies let you profit from direction, time decay, volatility expansion, volatility contraction — or any combination.

The library below covers 26 strategies across 7 categories. Every guide has the same structure so you can compare quickly: an ASCII payoff diagram, max profit / max loss / breakeven, the Greeks profile (delta, theta, vega, gamma), a real-world example with concrete strikes and prices, the risks and gotchas, and exactly which AInvest screener to use to find candidates today.

New to options? Start with long calls, long puts, then covered calls and cash-secured puts. Once those click, the wheel strategy and iron condor unlock the rest.

Single-Leg Directional

· 5 guides

The simplest entry to options — one call or one put expressing a directional view with capped downside.

Income & Premium-Selling

· 6 guides

Generate consistent monthly income from existing share positions or cash collateral. The bread-and-butter of theta sellers.

Vertical Spreads

· 4 guides

Two-leg defined-risk strategies. Bull spreads for upside, bear spreads for downside, debit for cheap, credit for premium.

Volatility Plays

· 4 guides

Long and short volatility positions for catalyst events — earnings, FDA decisions, FOMC meetings, and IV regime shifts.

Neutral / Range-Bound

· 3 guides

Four-leg structures profiting from low volatility and stocks staying within a range. Iron condors and butterflies live here.

Hedging & Protection

· 3 guides

Insurance for stock positions. Collars, protective puts, and married puts cap downside without selling shares.

Advanced & Time-Based

· 6 guides

Calendar and diagonal spreads, PMCC, ratio spreads, and synthetics — strategies for traders who understand the Greeks.

Ready to put a strategy to work?

The AInvest 5-pillar score tells you which stocks fit each strategy today — IV cheap or expensive, activity flowing in or out, timing green or red. Browse the screener, pick a setup, see the contracts.

Options Strategies: 26 Guides for Every Trade Setup | Options Pilot | Ainvest Options Pilot