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Buying a deep in-the-money long-term call to act as a stock substitute, then selling short-term calls against it. 6. Ratio and Exotic Combinations

These strategies do not care which way the market moves, only how much it moves.

If you're interested in learning more about 76 option strategies and how to master them, we recommend checking out our comprehensive guide in PDF format. This guide provides a detailed overview of each strategy, along with examples and illustrations to help you understand how they work.