> For the complete documentation index, see [llms.txt](https://guide.laevitas.ch/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guide.laevitas.ch/option-strategies.md).

# Option Strategies

- [Call Option](https://guide.laevitas.ch/option-strategies/call-option.md)
- [Put Option](https://guide.laevitas.ch/option-strategies/put-option.md)
- [Bull Call Spread](https://guide.laevitas.ch/option-strategies/bull-call-spread.md)
- [Bear Call Spread](https://guide.laevitas.ch/option-strategies/bear-call-spread.md)
- [Bull Put Spread](https://guide.laevitas.ch/option-strategies/bull-put-spread.md)
- [Bear Put Spread](https://guide.laevitas.ch/option-strategies/bear-put-spread.md)
- [Ratio Call Spread](https://guide.laevitas.ch/option-strategies/ratio-call-spread.md)
- [Ratio Put Spread](https://guide.laevitas.ch/option-strategies/ratio-put-spread.md)
- [Bull Diagonal Spread](https://guide.laevitas.ch/option-strategies/bull-diagonal-spread.md): A diagonal spread is constructed by purchasing a call/put far out in time, and selling a near term put/call on a further OTM strike to reduce cost basis.
- [Bear Diagonal Spread](https://guide.laevitas.ch/option-strategies/bear-diagonal-spread.md)
- [Iron Condor](https://guide.laevitas.ch/option-strategies/iron-condor.md)
- [Iron Butterfly](https://guide.laevitas.ch/option-strategies/iron-butterfly.md): An Iron Butterfly is a combination of at-the-money Call and Put option, and also a out-of-the-money Call and Put option (at the wings).
- [Long Call Butterfly](https://guide.laevitas.ch/option-strategies/long-call-butterfly.md)
- [Short Call Butterfly](https://guide.laevitas.ch/option-strategies/short-call-butterfly.md)
- [Long Put Butterfly](https://guide.laevitas.ch/option-strategies/long-put-butterfly.md)
- [Short Put Butterfly](https://guide.laevitas.ch/option-strategies/short-put-butterfly.md)
- [Straddle](https://guide.laevitas.ch/option-strategies/straddle.md)
- [Strangle](https://guide.laevitas.ch/option-strategies/strangle.md)
- [Risk Reversal](https://guide.laevitas.ch/option-strategies/risk-reversal.md)
- [Calendar](https://guide.laevitas.ch/option-strategies/calendar.md)
- [Synthetic](https://guide.laevitas.ch/option-strategies/synthetic.md)
- [Call Ladder](https://guide.laevitas.ch/option-strategies/call-ladder.md): A Call Ladder is a combination of an in-the-money call, an at-the-money call and another call strike further out-of-the-money of the same expiration date.
- [Put Ladder](https://guide.laevitas.ch/option-strategies/put-ladder.md): A Put Ladder is a combination of an in-the-money put, an at-the-money put and another put strike further out-of-the-money of the same expiration date.