Strategy group · 12 positions
Bullish strategies
Structures for a rising or resilient underlying
Structures for a rising or resilient underlying
Long Call
Buy a call for a defined upfront cost, with upside if the underlying rises above breakeven.
Open calculator ↗Moderately bullishCovered Call
Long shares with a short call, exchanging upside for option premium.
Open calculator ↗Moderately bullishBull Call Spread
Long lower-strike call financed by short higher-strike call.
Open calculator ↗Moderately bullishBull Put Spread
Short higher-strike put with protective lower-strike put.
Open calculator ↗Bullish with protectionProtective Put
Long shares with long put establishing price floor.
Open calculator ↗Moderately bullishCash-Secured Put
Short put backed by cash sufficient for assignment.
Open calculator ↗Strongly bullishCall Ratio Backspread
Short lower-strike call with two long higher-strike calls.
Open calculator ↗Moderately bullishBull Call Ladder
Bull call spread with additional short call at higher strike.
Open calculator ↗BullishSynthetic Long Stock
Long call and short put at same strike mimic long stock.
Open calculator ↗BullishBullish Risk Reversal
Long call financed by short lower-strike put.
Open calculator ↗BullishSynthetic Call
Long shares paired with a long put, replicating a long call's payoff while still holding the actual stock.
Open calculator ↗Moderately bullishPoor Man's Covered Call
Long-dated deep ITM call financed by a short-dated OTM call, approximating a covered call with less capital.
Open calculator ↗What the calculator includes
Expiry-aware modelling. Same-expiry lines use intrinsic value; mixed-expiry lines value the position at the earliest expiry while later legs retain theoretical value.
Editable legs. Change side, instrument, quantity, strike or premium; add and remove legs without an account.
Model boundary. Live legs use European Black–Scholes with their own DTE and IV. Results exclude fees, tax, liquidity, early assignment and American exercise behavior.