Options trading strategies — bull spread, bear spread, iron condor, straddle, strangle — complete Hindi guide.
Published by The Retail Trader · AUG 12, 2026 · Features
Options trading strategies — bull spread, bear spread, iron condor, straddle, strangle — complete Hindi guide.
Options strategies multiple legs use karti hain — buy + sell combinations jo risk aur reward ko manage karti hain.
1. Bull Call Spread:
• Buy ATM Call + Sell OTM Call
• Limited risk, limited reward
• When: Moderately bullish
2. Bull Put Spread (Credit):
• Sell OTM Put + Buy further OTM Put
• Net credit, limited risk
• When: Bullish, want income
3. Long Call:
• Buy ATM/OTM Call
• Unlimited reward, limited risk
• When: Very bullish
1. Bear Put Spread:
• Buy ATM Put + Sell OTM Put
• Limited risk, limited reward
• When: Moderately bearish
2. Bear Call Spread (Credit):
• Sell OTM Call + Buy further OTM Call
• Net credit, limited risk
• When: Bearish, want income
3. Long Put:
• Buy ATM/OTM Put
• Large reward, limited risk
• When: Very bearish
1. Iron Condor:
• OTM Call spread + OTM Put spread
• Profit from range-bound movement
• When: Low volatility expected
2. Short Straddle:
• Sell ATM Call + ATM Put
• Max profit at ATM, unlimited risk
• When: Very low volatility
3. Long Straddle:
• Buy ATM Call + ATM Put
• Profit from big move either direction
• When: Event-based, big move expected
4. Short Strangle:
• Sell OTM Call + OTM Put
• Wider profit zone than straddle
• When: Range-bound
5. Long Strangle:
• Buy OTM Call + OTM Put
• Cheaper than straddle
• When: Big move expected
Ye das baatein dhyaan mein rakho:
• Very bullish — Volatility: Any, Strategy: Long Call
• Moderately bullish — Volatility: Low, Strategy: Bull Call Spread
• Moderately bullish — Volatility: High, Strategy: Bull Put Spread
• Very bearish — Volatility: Any, Strategy: Long Put
• Moderately bearish — Volatility: Low, Strategy: Bear Put Spread
• Moderately bearish — Volatility: High, Strategy: Bear Call Spread
• Neutral — Volatility: High, Strategy: Iron Condor
• Neutral — Volatility: Very low, Strategy: Short Straddle
• Big move expected — Volatility: Low, Strategy: Long Straddle
• Big move expected — Volatility: High, Strategy: Long Strangle
Ye paanch baatein dhyaan mein rakho:
• Bull Call Spread — Delta: +, Vega: +
• Bear Put Spread — Vega: +
• Iron Condor — Delta: Neutral, Theta: +
• Short Straddle — Delta: Neutral, Theta: +
• Long Straddle — Delta: Neutral, Vega: +
Key: + means benefits, - means hurts
Ye baatein dhyaan mein rakho:
• 📌 OPTIONS STRATEGIES
• BULLISH:
• 📊 Long Call — Very bullish
• 📊 Bull Call Spread — Moderately bullish
• 📊 Bull Put Spread — Bullish + income
• BEARISH:
• 📊 Long Put — Very bearish
• 📊 Bear Put Spread — Moderately bearish
• 📊 Bear Call Spread — Bearish + income
• NEUTRAL:
• 📊 Iron Condor — Range-bound
• 📊 Short Straddle — Low vol, ATM
• 📊 Short Strangle — Low vol, OTM
• 📊 Long Straddle — Big move expected
• 📊 Long Strangle — Big move, cheaper
• SELECTION:
• 📊 View + Volatility → Strategy
• 📊 Very bullish → Long Call
• 📊 Moderately bullish → Spread
• 📊 Neutral high vol → Iron Condor
• 📊 Neutral low vol → Short Straddle
• 📊 Big move → Long Straddle/Strangle
• RISK:
• 💰 All spreads: Limited risk
• 💰 Naked selling: Unlimited risk
• 💰 Always use stop loss
• 💰 Max 3% capital per strategy
Ye chaar baatein dhyaan mein rakho:
• Option Greeks Kya Hain?
• Option Chain Kaise Padhein?
• Iron Condor Strategy
• Implied Volatility Kya Hai?
The Retail Trader — educational market analysis. Not investment advice.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.