In simple terms, option strategies are ways of profiting from different market scenarios, such as bullish, bearish, neutral, or volatile. Each category has different examples of option combinations that can create different payoffs. Each option strategy has its own advantages, disadvantages, risk-reward profile, and breakeven point. 📝 Options are contracts that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price before a specific date. Th...