| Bearish Strategies | Opportunity | Risk |
|---|---|---|
| Back Spread with Puts | Substantial | Limited |
| Bear Call Spread | Limited | Limited |
| Bear Put Spread | Limited | Limited |
| Inverse Broken Wing Butterfly with Puts | Limited | Limited |
| Long Put | Substantial | Limited |
| Short Call | Limited | Unlimited |
| Bullish Strategies | Opportunity | Risk |
|---|---|---|
| Back Spread with Calls | Unlimited | Limited |
| Bull Call Spread | Limited | Limited |
| Bull Put Spread | Limited | Limited |
| Inverse Butterfly Wing with Calls | Limited | Limited |
| Long Call | Unlimited | Limited |
| Short Put | Limited | Unlimited |
| Neutral Strategies | Opportunity | Risk |
|---|---|---|
| Broken Wing Butterfly w/Calls | Limited | Limited |
| Broken Wing Butterfly w/Puts | Limited | Limited |
| Christmas Tree Butterfly w/Calls | Limited | Limited |
| Christmas Tree Butterfly w/Puts | Limited | Limited |
| Front Spread with Calls | Limited | Unlimited |
| Front Spread with Puts | Limited | Substantial |
| Long Butterfly with Calls | Limited | Limited |
| Long Butterfly with Puts | Limited | Limited |
| Long Condor with Calls | Limited | Limited |
| Long Condor with Puts | Limited | Limited |
| Short Iron Butterfly | Limited | Limited |
| Short Iron Condor | Limited | Limited |
| Short Straddle | Limited | Unlimited |
| Short Strangle | Limited | Unlimited |
| Big Move Anticipated | Opportunity | Risk |
|---|---|---|
| Long Iron Butterfly | Limited | Limited |
| Long Iron Condor | Limited | Limited |
| Long Straddle | Unlimited | Limited |
| Long Strangle | Unlimited | Limited |
