🎯 Stratégiaválasztás & Single-Leg

You buy a call option and pay the premium. You have the right to buy the stock at the strike. You profit when the price rises strongly above Strike + Premium.

When to use: You expect a strong price rise but only want to risk the premium instead of buying the stock. Use ahead of expected positive events (earnings, product launches).

💡 In sTraderZ.com a Long Call appears as strategy "Long Call" with market outlook 📈 Bullish.

You buy a put option and pay the premium. You have the right to sell the stock at the strike. You profit when the price falls strongly below Strike − Premium.

When to use: You expect a price decline or want to hedge an existing stock position (→ Married Put). Use ahead of expected negative events.

💡 In sTraderZ.com a Long Put appears as strategy "Long Put" with market outlook 📉 Bearish.

You sell a call option and receive the premium immediately. You take on the obligation to deliver the stock at the strike if the buyer exercises. Unlimited loss potential to the upside — for experienced traders only!

When to use: You expect falling or stagnating prices and want to collect premium. Usually covered (Covered Call) to limit risk.

💡 ⚠️ Naked Short Call has unlimited risk. sTraderZ.com recognises it as "Short Call" (📉 Bearish).

You sell a put option and receive the premium. You take on the obligation to buy the stock at the strike if the buyer exercises. You profit when the price stays above the strike.

When to use: You are neutral-to-bullish on a stock and would like to own it at a lower price. Classic income strategy.

What really happens at assignment

Scenario: You sold an AAPL put with strike $170. AAPL closes on expiration day at $165 — in the money (ITM).

1. Saturday morning: Broker automatically books 100 AAPL shares into your account. Purchase price = Strike = $170 per share.
2. Cash debit: 170 × 100 = $17,000 is debited from your account. The premium you collected at the start (e.g. $2.50/share = $250) stays in your pocket.
3. Effective cost basis: 170 − 2.50 = $167.50 per share. Even if AAPL falls further, you acquired the stock cheaper than the market.
4. What now? Hold (buy-and-hold), immediately sell a covered call on top (Wheel strategy), or sell if you did not actually want the stock.

👉 Further reading: Ch. 9.0 shows the process step by step.

💡 In sTraderZ.com appears as "Short Put" (📈 Bullish). When cash is posted as collateral: "Cash-Secured Put".