Limited Risk Option trading strategies

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What are the most used limited Risk Option Strategies ?

Below are the Limited Risk Option trading strategies with links for most famous ones of all on Quick Hack.

**Limited Risk Option Strategy Cheat Sheet**
Option Strategy	Price Outlook	Volatility Outlook	Profit Potential	Risk
Long Calls(Naked Call Buy)	Bullish	Rising	Unlimited	Limited
Long Puts(Naked Put Buy)	Bearish	Rising	Unlimited	Limited
Protective Put	Bullish	Stable	Unlimited	Limited
Bull Put Spread	Bullish	Rising	Limited	Limited
Bear call Spread	Bearish	Falling	Limited	Limited
Bull Call Spread	Bullish	Rising	Limited	Limited
Bear Put Spread	Bearish	Falling	Limited	Limited
Iron Condors	Neutral	Falling	Limited	Limited
Iron Butterfly Spreads	Neutral	Falling	Limited	Limited
Calendar Spreads	Neutral	Rising	Limited	Limited
Double Calendars	Neutral	Rising	Limited	Limited
Long Strangle	Neutral	Rising	Unlimited	Limited
Long Straddle	Neutral	Rising	Unlimited	Limited
Put Ratio Spreads	Neutral to Bullish	Falling	Limited	Limited
Put Ratio Back spreads	Neutral to Bearish	Rising	Unlimited	Limited
Call Ratio Back spreads	Neutral to Bullish	Rising	Unlimited	Limited
Poor Man’s Covered Call	Bullish	Falling	Limited	Limited
Poor Man’s Covered put	Bearish	Rising	Limited	Limited

How to make a Trade on Options based on Trading day

Highest decay in Option premiums happen closer to the expiry.

For weekly options

On Start of weekly options say Friday and Monday you can look for buy strategies with limited risk and limited reward using the Option strategies like Bull Call spread etc.. based on market outlook. Or even long iron condor if you anticipate a huge movement on any side. Long straddle and Long straddle can also be used.
On Towards end of Week that is Wednesday and Thursdays, time decay is on your side if you are going for Selling side. That said its better to go with limited risk and limited reward trading strategies like short iron condor, short iron butterfly.
Tuesdays in morning parts can be opted for buying strategies and towards end if needed only Sell side strategies.

Theta decay is less on Friday and Monday are good opportunities to be on buy side like Bull call spreads or Bear Put spreads with limited profit and limited loss. Here the risk is defined.

With time decay aggressive towards weekend its better for Sell side strategies like short iron condor or short iron butterfly to gain from theta decay which can even compensate for any Delta loss due to price movements.

Vamshi B