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Directional Trades

Bet on where a stock is going with defined risk.

Directional options trades compress stock-like exposure into a fraction of the capital, or finance premium selling against a mild price view. LEAPS replace shares for long-term bullish bets, calendar spreads harvest time decay while waiting for a move, and vertical spreads cap both sides of the trade. Pick the one that matches your conviction and your timeframe.

Start with lesson 13 lessons

Lessons in this series

  1. 01

    LEAPS options, explained

    Stock replacement with long-dated deep-ITM calls.

  2. 02

    Calendar spreads, explained

    Sell near-month theta, buy back-month vega.

  3. 03

    Poor man's covered call

    The covered call income loop with less capital.

Related strategy pillars

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