S.

No Strategy Name Strategy When to use Risk Reward Breakeven point Remarks
1 Long Call Buy call option Bullish Trend Premium Unlimited Strike price + premium returns are unlimited in case of rise in nifty
2 Short Call Sell call option Bearish Trend Unlimited Premium Strike price + premium returns are limited in case of fall in nifty
Synthetic Long
3 Call Buy stock &Buy put Bullish Trend Limited Unlimited Stock Price + premium returns are unlimited in case of rise in nifty
4 Long Put Buy put option Bearish Trend premium Unlimited Strike Price - premium returns are unlimited in case of fall in nifty
5 Short Put sell put option Bullish Trend Unlimited Premium Strike Price - premium returns are limited in case of rise in nifty
6 Covered Call Buy stock &sell call moderately Bullish Unlimited Limited Stock price - premium returns are limited in case of rise in nifty
7 Long Comb Sell put & buy call Bullish Trend Unlimited Unlimited Higher Strike + net debit returns are very high in case of rise in nifty
8 Protective Call Sell stock & buy call Bearish Trend Limited Unlimited Stock price - premium returns are unlimited while the fall in nifty
moderately
9 Covered Put Sell stock & sell put Bearish Unlimited Limited Stock Price + premium returns are minimum in case of fall in nifty
Upper breakeven point = unlimited profits while the rise or
Strike price of long call +net premium, decline in the nifty
lower breakeven point= limited losses between the upper and
Significant Strike price of long put -net premium, lower breakeven points
10 Long Straddle Buy put & buy call Volatility Premium Unlimited

Upper breakeven point = unlimited losses while the rise or

Strike price of short call + net premium decline the nifty
lower breakeven point= limited profits between the upper and
Strike price of short put - net premium lower breakeven points
11 Short straddle Sell put & sell call very little volatility Unlimited Premium
Upper breakeven point = unlimited profits while the rise or
Strike price of long call +net premium, decline the nifty
Buy OTM Put & lower breakeven point= limited losses between the upper and
Buy OTM Call very high level of Strike price of long put -net premium, lower breakeven points
12 long strangle volatility Premium Unlimited

Upper breakeven point = limited profits between the upper and

Strike price of short call + net premium lower breakeven points
lower breakeven point= unlimited losses while the rise or
Sell OTM Put & Sell Strike price of short put - net premium decline the nifty
13 Short strangle OTM Call little volatility Unlimited Premium
Buy stock, Buy put Conservatively purchase price - call premium +put
14 Collar &sell call bullish limited Limited premium limited profits while the rise in nifty
Buy Call & Sell OTM
15 Bull Call spread Call moderately Bullish Premium Limited Strike price + net debit limited profits while the rise in nifty
Net
Buy Put & Sell OTM premium limited profits i.e net premium in case of rise
16 Bull Put spread Put moderately Bullish Limited credit Strike price of short put -net premium in nifty
Sell call & Buy OTM Net limited profits i.e net premium in case of fall
17 Bear call spread Call mildly bearish Limited premium lower strike + net credit in nifty
Sell Put &Buy OTM moderately Net Strike price of long put - net premium
18 Bear Put spread Put Bearish premium Limited paid limited profits while the fall in nifty
 Upper breakeven point =
Strike price of higher long call -net
Buy lower strike premium limited loss i.e net debit in case of rise
call, sell middle lower breakeven point= or fall in nifty
strike call, buy neutral on market Strike price of lower long call + net limited profits i.e maximum profit between
Long call higher strike call direction Bearish Net debit premium upper and lower breakeven points
19 Butterfly on volatility paid Limited
Upper breakeven point =
Strike price of higher short call -net
premium limited profit i.e net credit in case of rise
Sell lower strike call, lower breakeven point= or fall in nifty
buy middle strike neutral on market Net strike price of lower short call + net limited loss i.e maximum loss in between
Short call call & sell higher direction Bullish on premium premium upper and lower breadeven points
20 Butterfly strike call volatility Limited received
Buy lower strike
call, Upper breakeven point = limited loss i.e net debit in case of rise
sell middle strike Higher strike price - net debit or fall in nifty
call,buy higher lower breakeven point= limited profit i.e maximum profit in between
strike call Low volatility lower strike price + net debit upper and lower breadeven points
21 Long call condor bullish trend net debit Limited
Sell lower strike call,
buy middle strike Upper breakeven point = limited profit i.e net credit in case of rise
buy middle strike Higher strike price -net credit or fall in nifty
call &sell higher lower breakeven point= limited loss i.e maximum loss in between
strike call lower strike price+ net credit upper and lower breadeven points
22 Short call condor Bearish Trend Limited Net credit