Download User Guide - Berkeley Futures Limited

J-Trader Tools
Options Strategies
The types of option strategy you can choose from on the Strategy Calculator (page 64) are described in
the following table. Notice how the selection of available strategies changes according to whether As
Volatility Trade is ticked.
The options strategy types are as follows:
Options strategy type Explanation
Call
Put
Straddle
Strangle
Call Spread
Put Spread
2x1 Call Spread
2x1 Put Spread
Call Spread vs Put
Put Spread vs Call
Call Butterfly
Standard call.
Standard put.
Buy put, buy call at same strike.
Buy put, buy call at higher strike.
Buy call, sell and call (same month) at higher strike.
Buy put, sell any put (same month) at lower strike.
Sell call, buy two calls at higher strike.
Sell put, buy two puts at lower strike.
Buy a call spread versus selling a put: buy a call, sell a call at a higher strike, sell a
put at any strike.
Buy a put spread versus selling a call: buy a put, sell a put at a lower strike, sell a
call at any strike.
Buy call, sell two calls at higher strikes, buy call at a higher strike. (The strikes do
not have to be consecutive and the gaps between them do not have to be equal.)
Put Butterfly
Combo
Iron Butterfly
Call Condor
Put Condor
Calendar Call Spread
Buy put, sell two puts at higher strikes, buy put at a higher strike. (The strikes do
not have to be consecutive and the gaps between them do not have to be equal.)
Sell call, buy put at lower strike.
Buy the straddle, sell the strangle. This must be entered in the following sequence:
sell put, buy put and call at higher strike, sell call at a higher strike. (The strikes do
not have to be consecutive and the gaps between them do not have to be equal.)
Buy near month, sell later month, sell yet later month and buy later month still.
(The delivery months do not have to be consecutive and the gaps between them do
not have to be equal.)
Sell near month call, buy far month call (same strikes across the two months).
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