Bullish — Strategy calculators

A long call is the simplest bullish options trade: you buy a call to profit if the stock rises above the strike before expiration. Risk is limited to the premium paid; upside is theoretically unlimited.

A naked (short) put sells a put to collect premium without setting cash aside. It profits if the stock stays above the strike, with substantial risk if it falls sharply.

A bull call spread buys a call and sells a higher-strike call to lower cost. Both risk and reward are capped — a cheaper, defined-risk way to play a moderate move up.

A bull put credit spread sells a put and buys a lower-strike put for protection, collecting a net credit. It profits if the stock stays above the short strike — a high-probability income trade.

A call diagonal buys a longer-dated call and sells a shorter-dated, higher-strike call against it. It is the structure behind the poor man’s covered call: leveraged, income-generating and multi-expiration.

A call ratio spread buys one call and sells two higher-strike calls. It is cheap to open (often a credit) and profits from a moderate rise — but the extra short call leaves uncapped risk if the stock runs too far.

A call backspread sells one call and buys two higher calls. It profits from a strong rally with unlimited upside, often costs little or nothing to open, and has limited, defined risk if the stock stalls in a middle zone.

Synthetic long stock combines a long call and a short put at the same strike to replicate the payoff of owning 100 shares — moving dollar-for-dollar with the stock, but tying up far less capital.

Kite is an original, experimental bullish structure: a long call — the upside kite — financed by a bull put credit spread below it, the tail. The put spread pays for the call, so you often open it for a net credit while keeping unlimited upside and a defined, capped downside.

A protective put (also called a married put) is owning the stock and buying a put against it as insurance. The put sets a floor under your losses below its strike, while your upside stays unlimited. The cost is the premium — a small, known price for downside protection.

A ZEBRA (Zero Extrinsic Back Ratio) buys two in-the-money calls and sells one at-the-money call. The structure nets a delta near +100 — so it moves almost dollar-for-dollar with the stock — while the sold call cancels out most of the time value, giving stock-like upside with very little theta decay and a defined, limited downside.

A risk reversal sells an out-of-the-money put to pay for a long out-of-the-money call. It is a leveraged bullish position — often near zero cost — that behaves like owning the stock, but with a flat "dead zone" between the two strikes and real downside risk below the short put.

The stock repair strategy adds a 1×2 call ratio spread to a losing long position — buy one at-the-money call and sell two out-of-the-money calls, usually for near-zero cost. It doubles your recovery between the current price and the short strike, lowering your effective breakeven without adding capital.

A bull call ladder is a bull call spread with an extra short call added above it: long one lower call, short one middle call, short one higher call. The second short cheapens the trade — sometimes to a credit — but is naked, so a strong rally past the top strike brings uncapped losses. It suits a moderate rise that stalls inside a target zone.

A bear call ladder starts as a bear call credit spread and adds a second long call above it: short one lower call, long one middle call, long one higher call. Despite the name, the two long calls make it a net-bullish, volatile trade — unlimited profit on a strong rally, a small credit kept if the stock falls, and the worst outcome a modest rise into the middle zone.

A bullish seagull is a three-leg structure: buy a call, sell a higher call to cap the upside, and sell an out-of-the-money put to pay for it. The short put often reduces the cost to near zero, giving you bullish exposure with a capped gain and a "dead zone" of little P/L between the strikes — at the price of taking assignment if the stock drops below the short put.