Know your options—and the risk and reward for each strategy

Options strategies for beginners and advanced traders.

Written byDoug Ashburn

Fact-checked byJennifer Agee

Whether you’re looking to learn more about the fundamentals of derivatives trading or understand advanced options strategies, you’ve come to the right place. The expiration profile (or “options risk graph”) is a helpful tool that illustrates the maximum profit and loss for each option strategy. It also shows the breakeven points if you were to hold the position through expiration (although most traders don’t).

With options, there’s a strategy for any objective, but there’s always a trade-off.

It’s time to explore your options.

Choose an options strategy to learn about its components and risk profile, then click the “Learn more” button to open a dedicated article about each one.

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This article was most recently revised and updated by Doug AshburnThis article was most recently revised and updated by Jennifer Agee