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Unformatted text preview: limited Covered put write unlimited limited Bearish calendar spread limited unlimited Naked Call write unlimited limited *Profit when price goes down *Covered Call: long stock, short call (most common)-sometimes called a synthetic short put-done for arbitrage opportunities-allows owner of a stock to make a little extra money *Protective Put: long stock, long put-sometimes called portfolio insurance-looks like a long call...
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- Fall '11