The spreads available for construction are the following:



Bearish: Neutral:

Long Stock

Short Stock Long Straddle
Long Call Long Put Short Straddle
Short Put Short Call Long Strangle
Covered Call Collar Short Strangle
Bull Call Spread Bear Call Spread Call Calendar Spread
Bull Call Diagonal Spread Bear Put Spread Put Calendar Spread
Synthetic Long Stock Bear Put Diagonal Spread Long Butterfly
Put Ratio Spread Synthetic Short Stock Short Butterfly
Call Ratio Backspread Married Put Long Iron Butterfly
  Call Ratio Spread Short Iron Butterfly
  Put Ratio Backspread Long Condor
    Short Condor
Long Iron Condor
Short Iron Condor