Option Strategy Type
Tiger currently offers nine option strategies as follows:
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Covered Call: A combination of 1 lot short position in a call option and 100 shares long position in the same underlying U.S. stock.
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Covered Put: A combination of 1 lot short position in a put option and 100 shares short position in the same underlying U.S. stock.
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Call Vertical Spread: A combination of 1 lot short position in a call option and 1 lot long position in a call option. This option strategy can be combined when the call options aforementioned have the same underlying (U.S. stock), the same expiration date, and different strike prices.
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Put Vertical Spread: A combination of 1 lot short position in a put option and 1 lot long position in a put option. This option strategy can be combined when the put options aforementioned have the same underlying (U.S. stock), the same expiration date, and different strike prices.
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Short Call and Put: A combination of 1 lot short position in a call option and 1 lot short position in a put option. This option strategy can be combined when both options aforementioned have the same underlying (U.S. stock) and the same expiration date. The strike price of put option is equal to or less than the strike price of call option.
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Protective Call: A combination of 1 lot long position in a call option and 100 shares short position in the same underlying U.S. stock.
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Protective Put: A combination of 1 lot long position in a put option and 100 shares long position in the same underlying U.S. stock.
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Call Calendar Spread: A combination of 1 lot long position in a call option and 1 lot short position in a call option. This option strategy can be combined when the call options aforementioned have the same underlying (U.S. stock), the strike price can be different. The expiration date of short position is earlier than the expiration date of long position.
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Put Calendar Spread: A combination of 1 lot long position in a put option and 1 lot short position in a put option. This option strategy can be combined when the put options aforementioned have the same underlying (U.S. stock), the strike price can be different. The expiration date of short position is earlier than the expiration date of long position.