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Income generation
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Neutral to bullish
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Covered Call
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Sell a call against an existing stock position
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Income generation
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Neutral to bullish
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Cash-Secured Put
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Sell a put, secured by cash set aside in case of assignment
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Hedging
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Neutral to bearish
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Protective Put
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Buy a put on an existing stock position
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Speculation
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Either direction
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Straddle
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Buy a call and a put at the same strike
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Speculation
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Either direction
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Debit Spread
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Buy and sell calls with different strike prices and/or expirations, or buy and sell puts at the same time
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