• Print
  • Default text size A
  • Larger text size A
  • Largest text size A

Options Strategy Guide

The Options Strategy Guide is an educational tool that can help you learn about a variety of options strategies. The guide includes explanations of each strategy, max profit, max risk, profit/loss diagrams, and much more. You can filter by outlook, profit, and risk; making it easier to find the strategy or strategies you're interested in. Options are one of the more versatile investment choices available. Options may not be appropriate for all investors, with more versatility comes additional risk.


Bull call spread

A bull call spread consists of one long call with a lower strike price and one short call with a higher strike price.

Option trading just became more cost-effective NEW

All online Buy-To-Close orders executed at $0.10 or less are now commission-free.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Prior to trading options, please read Characteristics and Risks of Standardized Options, and call 800-343-3548 to be approved for options trading.  Supporting documentation for any claims, if applicable, will be furnished upon request.

There is an Options Regulatory Fee of $0.0355 per contract that applies to both option buy and sell transactions as well as an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal) on sell transactions. Fees are subject to change.

There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, and collars, as compared to a single option trade.