This article has been reviewed by Sumeet Sinha, MBA (Emory University Goizueta Business School). Should you have any inquiries, please do not hesitate to contact at sumeet@finlightened.com.
Download the Options Trading Cheat Sheet PDF here.
Long Call
When you expect the stock price to go up before the expiration date, you buy a call option. Buying a call option makes it a ‘long call’.
![Options Trading Cheat Sheet - Free PDF Download [2023] (1) Options Trading Cheat Sheet - Free PDF Download [2023] (1)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/2-1024x1024.jpg)
Long Put
When you expect the stock price to go down before the expiration date, you buy a put option. Buying a put option makes it a ‘long put’.
![Options Trading Cheat Sheet - Free PDF Download [2023] (2) Options Trading Cheat Sheet - Free PDF Download [2023] (2)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/3-new-1024x1024.png)
Short Call
Selling a call option makes this position a ‘short call’
![Options Trading Cheat Sheet - Free PDF Download [2023] (3) Options Trading Cheat Sheet - Free PDF Download [2023] (3)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/4-1024x1024.jpg)
Short Put
Selling a put option makes this strategy a ‘short put’.
![Options Trading Cheat Sheet - Free PDF Download [2023] (4) Options Trading Cheat Sheet - Free PDF Download [2023] (4)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/5-1024x1024.jpg)
Options Trading Quiz For Beginners
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Bull Call Spread
A bull call spread is a vertical spread created by buying a call option (long call) at a lower strike price and selling a call option (short call) at a higher strike price.
![Options Trading Cheat Sheet - Free PDF Download [2023] (5) Options Trading Cheat Sheet - Free PDF Download [2023] (5)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/6-1-1024x1024.jpg)
Bear Call Spread
A bear call spread is a vertical spread created by buying a call option (long call) at a higher strike price and selling a call option (short call) at a lower strike price.
![Options Trading Cheat Sheet - Free PDF Download [2023] (6) Options Trading Cheat Sheet - Free PDF Download [2023] (6)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/7-1024x1024.jpg)
Bull Put Spread
A bull put spread is a vertical spread created by buying a put option (long put) at a lower strike price, and selling a put option (short put) at a higher strike price.
![Options Trading Cheat Sheet - Free PDF Download [2023] (7) Options Trading Cheat Sheet - Free PDF Download [2023] (7)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/8-1024x1024.jpg)
Bear Put Spread
A bear put spread is a vertical options spread created by buying a put option (long put) at a higher strike price, and selling a put option (short put) at a lower strike price.
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Long Straddle
A Long Option Straddle is created by buying a call and buying a put option with the same expiration date and same strike price.
![Options Trading Cheat Sheet - Free PDF Download [2023] (9) Options Trading Cheat Sheet - Free PDF Download [2023] (9)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/10-1024x1024.jpg)
Short Straddle
A Short Straddle Option is created by selling a call and selling a put option with the same expiration date and same strike price.
![Options Trading Cheat Sheet - Free PDF Download [2023] (10) Options Trading Cheat Sheet - Free PDF Download [2023] (10)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/11-1024x1024.jpg)
Long Strangle
A Long Strangle Option is created by buying a call option at a higher strike price and buying a put option at a lower strike price with the same expiration date.
![Options Trading Cheat Sheet - Free PDF Download [2023] (11) Options Trading Cheat Sheet - Free PDF Download [2023] (11)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/12-1024x1024.jpg)
Short Strangle
A Short Strangle Option is created by selling a call at a higher strike price and selling a put option at a lower strike price with the same expiration date.
![Options Trading Cheat Sheet - Free PDF Download [2023] (12) Options Trading Cheat Sheet - Free PDF Download [2023] (12)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/13-1024x1024.jpg)
Long Call Butterfly
A long call butterfly spread is established by buying one in-the-money call option, one out-of-money call option, and selling two at-the-money call options.
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![Options Trading Cheat Sheet - Free PDF Download [2023] (17) Options Trading Cheat Sheet - Free PDF Download [2023] (17)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/14-1024x1024.jpg)
Short Call Butterfly
A short call butterfly spread is created by selling one ITM call option, selling one OTM call option, and buying two at-the-money call options.
![Options Trading Cheat Sheet - Free PDF Download [2023] (18) Options Trading Cheat Sheet - Free PDF Download [2023] (18)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/15-1024x1024.jpg)
Long Put Butterfly
A long put butterfly spread is created by selling 2 at-the-money put options and buying two put options – one in-the-money and one out-of-money.
![Options Trading Cheat Sheet - Free PDF Download [2023] (19) Options Trading Cheat Sheet - Free PDF Download [2023] (19)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/16-1024x1024.jpg)
Short Put Butterfly
A short butterfly spread is created by buying 2 at-the-money put options and selling two put options – one in-the-money and one out-of-money.
Long Call Condor
A long call condor is created by purchasing one in-the-money call option, one out-of-money call option, and selling two call options in between.
![Options Trading Cheat Sheet - Free PDF Download [2023] (21) Options Trading Cheat Sheet - Free PDF Download [2023] (21)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/18-1024x1024.jpg)
Short Call Condor
A short call condor is created by selling one ITM call option, selling one OTM call option, and buying two call options in between.
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![Options Trading Cheat Sheet - Free PDF Download [2023] (22) Options Trading Cheat Sheet - Free PDF Download [2023] (22)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/19-1024x1024.jpg)
Long Put Condor
A long put condor spread is created by buying two put options – one in-the-money and one out-of-money, and selling 2 put options in between.
![Options Trading Cheat Sheet - Free PDF Download [2023] (23) Options Trading Cheat Sheet - Free PDF Download [2023] (23)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/20-1024x1024.jpg)
Short Put Condor
A short put condor is created by selling two put options – one in-the-money and one out-of-money and buying 2 put options in between.
![Options Trading Cheat Sheet - Free PDF Download [2023] (24) Options Trading Cheat Sheet - Free PDF Download [2023] (24)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/21-1024x1024.jpg)
Covered Call
In a Covered Call Option Strategy, you sell a Call Option, while holding the underlying stock (100 shares per Short Call).
![Options Trading Cheat Sheet - Free PDF Download [2023] (25) Options Trading Cheat Sheet - Free PDF Download [2023] (25)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/10/22-1024x1024.jpeg)
Covered Put
In a Covered Put Option Strategy, you sell a Put Option, while shorting the underlying stock (100 shares per Short Put)
![Options Trading Cheat Sheet - Free PDF Download [2023] (26) Options Trading Cheat Sheet - Free PDF Download [2023] (26)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/10/23-1024x1024.jpeg)
Download the Options Trading Cheat Sheet PDF here.
This options trading cheat sheet is a very handy resource to look at the option strategies at a glance – how the strategy is created, and what the profit and loss graphs look like for each strategy.
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![Options Trading Cheat Sheet - Free PDF Download [2023] (27) Options Trading Cheat Sheet - Free PDF Download [2023] (27)](https://i0.wp.com/finlightened.com/wp-content/uploads/2022/09/OPTIONS-TRADING-CHEAT-SHEET-scaled.jpeg)
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Related Posts:
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