Buy and hold: Buy an option that lets you buy a stock at a higher price in the future and wait for the stock price to rise.
Covered call: Own the stock and sell a right to buy the stock from you at a higher price in the future.
Collar: Similar to a covered call, but also buy a right to sell the stock at a lower price to protect against big losses.
Protective put: Buy a right to sell the stock at a lower price to protect against big losses.
Remember, options trading has risks and it's important to understand them before making any decisions.
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