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class="CategoryBrowsePage_CategoryColor__NXMZ3 mb-0 font-sans-serif">Trading</h1></div><div class="grid gx-40"><div class="col-100 col-sm-50 col-md-33 mt-20 mb-sm-0"><a class="text-decoration-none FinancePortalCard_link__4caV3" href="/money/option-strangle-strategies"><div class="card card-lg FinancePortalCard_FinancePortalCard__N91Ob" data-testid="FinancePortalCard"><div class="card-media position-relative" data-testid="CardMedia"><img loading="eager" src="https://cdn.britannica.com/10/267110-050-4F8001E4/Options-risk-curve-Long-strangle.jpg?c=crop&h=242&w=430" alt="A graph shows the risk profile for a long strangle option spread." data-testid="IrisImage" style="aspect-ratio:16/9" class="w-100"/></div><div class="card-body" data-testid="CardBody"><span class="FinancePortalCard_categoryLabel__4fw_G font-weight-bold mb-5 d-block" style="--category-color:var(--violet-strong)" data-testid="CategoryLabel">Trading</span><div class="FinancePortalCard_lg__d5f04 d-inline-block text-blue font-weight-semi-bold mb-5"><span class="FinancePortalCard_title__NGx2V font-weight-bold">Option strangles and iron condors: Targeting movement but not direction</span></div><span class="text-gray-700 line-clamp clamp-2 font-16 d-block font-serif" data-testid="Description">Multiple strikes; multiple uses.</span></div></div></a></div><div class="col-100 col-sm-50 col-md-33 mt-20 mb-sm-0"><a class="text-decoration-none FinancePortalCard_link__4caV3" href="/money/cboe-volatility-index"><div class="card card-lg FinancePortalCard_FinancePortalCard__N91Ob card-horizontal card-sm-vertical" data-testid="FinancePortalCard"><div class="card-media position-relative" data-testid="CardMedia"><img loading="eager" src="https://cdn.britannica.com/09/265709-050-11F07D26/vix-spikes-and-valleys-graph.jpg?c=crop&h=242&w=430" alt="A price chart shows spikes in market volatility from 2007 to 2024." data-testid="IrisImage" style="aspect-ratio:16/9" class="w-100"/></div><div class="card-body" data-testid="CardBody"><span class="FinancePortalCard_categoryLabel__4fw_G font-weight-bold mb-5 d-block" style="--category-color:var(--violet-strong)" data-testid="CategoryLabel">Trading</span><div class="FinancePortalCard_lg__d5f04 d-inline-block text-blue font-weight-semi-bold mb-5"><span class="FinancePortalCard_title__NGx2V font-weight-bold">What kind of mood is the market in? Check the Cboe Volatility Index (VIX)</span></div><span class="text-gray-700 line-clamp clamp-2 font-16 d-block font-serif" data-testid="Description">Shaken or stirred?</span></div></div></a></div><div class="col-100 col-md-33 mt-20"><h2 class="h3 mb-20">Recently Posted</h2><div class="mb-20" data-testid="IconListItem"><div class="d-flex"><div><div class="mr-10 CategoryIcon_CategoryColor__LqKRy CategoryIcon_base__kFMzG d-inline-flex p-5 rounded-sm align-items-center justify-content-center CategoryIcon_inverted__rpZqw" style="--category-color:var(--violet-strong)" data-testid="CategoryIcon"><div class="Icon_Icon__0yAOn CategoryIcon_Icon__GYYag d-flex align-items-center" data-testid="Icon"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15 4c-4.42 0-8 3.58-8 8s3.58 8 8 8 8-3.58 8-8-3.58-8-8-8zm0 14c-3.31 0-6-2.69-6-6s2.69-6 6-6 6 2.69 6 6-2.69 6-6 6zM3 12a5.99 5.99 0 0 1 4-5.65V4.26C3.55 5.15 1 8.27 1 12s2.55 6.85 6 7.74v-2.09A5.99 5.99 0 0 1 3 12z"></path></svg></div></div></div><div class="overflow-auto"><a class="font-18 font-weight-semi-bold lh-sm" href="/money/put-call-ratio"><span>The put-call ratio: Gauge the market’s mood with an old-school volatility indicator</span></a><span class="mt-5 text-gray-700 text-truncate font-16 d-block font-serif" data-testid="Description">Are options traders pricing in fear or calm? </span></div></div></div><div class="mb-20" data-testid="IconListItem"><div class="d-flex"><div><div class="mr-10 CategoryIcon_CategoryColor__LqKRy CategoryIcon_base__kFMzG d-inline-flex p-5 rounded-sm align-items-center justify-content-center CategoryIcon_inverted__rpZqw" style="--category-color:var(--violet-strong)" data-testid="CategoryIcon"><div class="Icon_Icon__0yAOn CategoryIcon_Icon__GYYag d-flex align-items-center" data-testid="Icon"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15 4c-4.42 0-8 3.58-8 8s3.58 8 8 8 8-3.58 8-8-3.58-8-8-8zm0 14c-3.31 0-6-2.69-6-6s2.69-6 6-6 6 2.69 6 6-2.69 6-6 6zM3 12a5.99 5.99 0 0 1 4-5.65V4.26C3.55 5.15 1 8.27 1 12s2.55 6.85 6 7.74v-2.09A5.99 5.99 0 0 1 3 12z"></path></svg></div></div></div><div class="overflow-auto"><a class="font-18 font-weight-semi-bold lh-sm" href="/money/cash-secured-put-option-strategy"><span>Selling cash-secured put options: Stock accumulation and targeted premium collection</span></a><span class="mt-5 text-gray-700 text-truncate font-16 d-block font-serif" data-testid="Description">Getting paid to wait for a buying opportunity.</span></div></div></div><div class="mb-20" data-testid="IconListItem"><div class="d-flex"><div><div class="mr-10 CategoryIcon_CategoryColor__LqKRy CategoryIcon_base__kFMzG d-inline-flex p-5 rounded-sm align-items-center justify-content-center CategoryIcon_inverted__rpZqw" style="--category-color:var(--violet-strong)" data-testid="CategoryIcon"><div class="Icon_Icon__0yAOn CategoryIcon_Icon__GYYag d-flex align-items-center" data-testid="Icon"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15 4c-4.42 0-8 3.58-8 8s3.58 8 8 8 8-3.58 8-8-3.58-8-8-8zm0 14c-3.31 0-6-2.69-6-6s2.69-6 6-6 6 2.69 6 6-2.69 6-6 6zM3 12a5.99 5.99 0 0 1 4-5.65V4.26C3.55 5.15 1 8.27 1 12s2.55 6.85 6 7.74v-2.09A5.99 5.99 0 0 1 3 12z"></path></svg></div></div></div><div class="overflow-auto"><a class="font-18 font-weight-semi-bold lh-sm" href="/money/butterfly-option-spread"><span>Option butterfly spreads: Volatility, magnitude, and defined risk</span></a><span class="mt-5 text-gray-700 text-truncate font-16 d-block font-serif" data-testid="Description">Would you like your butterfly balanced or unbalanced?</span></div></div></div></div></div></section><section class="grid g-20 mt-30 mb-50" data-testid="Subcategories"><div class="col-100 col-sm-50 col-md-33 mb-30"><a class="Subcategories_CompanyLink__V5gck d-flex align-items-center justify-content-start mb-15 text-decoration-none" href="/money/browse/Crypto-Foreign-Exchange"><h3 class="my-0 text-black">Crypto & Foreign Exchange<span class="font-18 font-weight-bold ml-10 mt-0 mt-sm-5 link-blue">See all</span></h3></a><div class="d-flex flex-column"><a class="font-18 font-weight-bold" href="/money/digital-token-types">Digital tokens: 8 types of crypto coins</a><span class="mt-5 mb-15 font-16 d-block font-serif" data-testid="Description">Different kinds serve different purposes.</span></div><div class="d-flex flex-column"><a class="font-18 font-weight-bold" href="/money/centralized-vs-decentralized-crypto">Centralized vs. decentralized crypto exchanges—which should you choose?</a><span class="mt-5 mb-15 font-16 d-block font-serif" data-testid="Description">Understanding CEX and DEX.</span></div><div class="d-flex flex-column"><a class="font-18 font-weight-bold" href="/money/cryptocurrency-recovery-safety">How to recover lost cryptocurrency—and how to keep it safe</a><span class="mt-5 mb-15 font-16 d-block font-serif" data-testid="Description">Start by choosing your digital wallet carefully.</span></div></div><div class="col-100 col-sm-50 col-md-33 mb-30"><a class="Subcategories_CompanyLink__V5gck d-flex align-items-center justify-content-start mb-15 text-decoration-none" href="/money/browse/Futures-Margin-Trading"><h3 class="my-0 text-black">Futures & Margin Trading<span class="font-18 font-weight-bold ml-10 mt-0 mt-sm-5 link-blue">See all</span></h3></a><div class="d-flex flex-column"><a class="font-18 font-weight-bold" href="/money/crypto-futures-trading">Cryptocurrency futures: A new way to ride the crypto wave, with some old-school trading twists</a><span class="mt-5 mb-15 font-16 d-block font-serif" data-testid="Description">Crypto not risky enough for you? 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