Sell Put And Buy Call Strategy -

: You have unlimited upside but also face "uncapped" downside risk identical to owning the stock. Risk Reversal (Different Strikes) :

: Sell an Out-of-The-Money (OTM) put and buy an OTM call. sell put and buy call strategy

: Risk Reversal - Options Math for Traders details how this variation exploits "skew" (the price difference between puts and calls) to potentially enter trades for a net credit. Strategic Overview Synthetic Long Stock (Same Strike) : : You have unlimited upside but also face

: Sell an At-The-Money (ATM) put and buy an ATM call. sell put and buy call strategy

: Replicate 100 shares of stock performance with minimal upfront cost.