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  2. Stock option return - Wikipedia

    en.wikipedia.org/wiki/Stock_option_return

    The iron butterfly is a special case of an iron condor (see above) where the strike price for the bull put credit spread and the bear call credit spread are the same. Ideally, the margin for the iron butterfly is the maximum of the bull put and bear call spreads, but some brokers require a cumulative margin for the bull put and the bear call.

  3. Bull spread - Wikipedia

    en.wikipedia.org/wiki/Bull_spread

    If the bull put spread is done so that both the sold and bought put expire on the same day, it is a vertical credit put spread. Break even point = upper strike price - net premium received This strategy is also called a put credit spread because the trader will receive a credit (be paid the premium) for entering the position.

  4. Credit spread (options) - Wikipedia

    en.wikipedia.org/wiki/Credit_spread_(options)

    In finance, a credit spread, or net credit spread is an options strategy that involves a purchase of one option and a sale of another option in the same class and expiration but different strike prices. It is designed to make a profit when the spreads between the two options narrows.

  5. Options strategy - Wikipedia

    en.wikipedia.org/wiki/Options_strategy

    Many options strategies are built around spreads and combinations of spreads. For example, a bull put spread is basically a bull spread that is also a credit spread while the iron butterfly can be broken down into a combination of a bull put spread and a bear call spread.

  6. Box spread - Wikipedia

    en.wikipedia.org/wiki/Box_spread

    For example, a bull spread constructed from calls (e.g., long a 50 call, short a 60 call) combined with a bear spread constructed from puts (e.g., long a 60 put, short a 50 put) has a constant payoff of the difference in exercise prices (e.g. 10) assuming that the underlying stock does not go ex-dividend before the expiration of the options.

  7. Vertical spread - Wikipedia

    en.wikipedia.org/wiki/Vertical_spread

    Vertical spreads can sometimes approximate binary options, and can be produced using vanilla options. Bull vertical spread - Bull call spread and bull put spread are bullish vertical spreads constructed using calls and puts respectively.

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