Screeners, strategies and backtests
Option strategies explained, the screeners that find them in today's market, and backtests that show how an idea did on past prices.
Tools in this topic
Debit Calendar Call Premium
Debit Calendar Put Premium
Options Backtester Premium
Featured Trade Ideas Premium
Synthetic Long Stock Discounts Premium
Bear Call Spreads [Credit] Premium
Bear Put Spreads [Debit] Premium
Bull Call Spreads [Debit] Premium
Bull Put Spreads [Credit] Premium
Call Butterflies [Short ATM, Long OTM] Premium
ETF Screener
Long Calls Premium
Iron Butterflies [Long ATM, Short OTM] Premium
Iron Condors [Long Inner, Short Outer] Premium
Long Puts Premium
Naked Puts Premium
Put Butterflies [Short ATM, Long OTM] Premium
Call Butterflies [Long ATM, Short OTM] Premium
Iron Butterflies [Short ATM, Long OTM] Premium
Iron Condors [Short Inner, Long Outer] Premium
Put Butterflies [Long ATM, Short OTM] Premium
Stock Screener
Put Protection
Questions this topic answers
Guides
Risk ReversalA risk reversal buys an out-of-the-money call and sells an out-of-the-money put. Its payoff, breakeven, maximum loss and the risks of the short put.
Option StrategiesLearn about the most commonly traded option strategies, like call and put spreads, straddles, strangles, butterflies and condors.
Short Calendar Call SpreadLearn how you can use the short calendar spread strategy to benefit your options trading. View the potential risks and rewards in a payout diagram.
StraddleStraddles are option strategies executed by holding a position in an equal number of puts and calls with the same strike price and expiration date. Short straddles involve selling both puts and calls to gain a premium...
Delta Neutral TradingExplanation of Delta Neutral Trading Strategies for combining options and stock
How to Use the Options Profit CalculatorThis page teaches you how to use the Options Profit Calculator tool.
Debit Call SpreadLearn the benefits of trading a Debit Call Spread strategy from Market Chameleon. Also known as a Bull Call Spread.
Debit Put SpreadLearn the benefits of trading a Debit Put Spread strategy from Market Chameleon. Also known as a Bear Put Spread.
StrangleLearn the benefits of a strangle option strategy, which is buying an out-of-the-money call and an out-of-the-money put for the same expiration.
Ratio Call SpreadLearn the benefits of a Ratio Call Spread option strategy, selling an at-the-money call and buying 2 out-of-the-money calls
Double Bull SpreadLearn the benefits of a Double Bull Spread option strategy, buying an out-of-the-money call spread and selling an out-of-the-money put spread on the same expiration
Market Chameleon | How to Find a Bull Call Spread for a Specific StockHow to Find a Bull Call Spread for a Specific Stock.
Long Put Option Out-of-the-MoneyLearn the benefits of buying a long out-of-the-money put option using Market Chameleon's helpful resource
Synthetic Stock PositionsExplanation of Synthetic Stock Position Strategies for Option Trading
Iron Condor StrategyA condor is similar to a Butterfly, containing four options contracts. Long (Short) condors involve selling (buying) calls at the inner option strikes and buying (selling) calls at the outer option strikes. An iron co...
Long Call Option Out-of-the-MoneyLearn the benefits of buying a long out-of-the-money call option using Market Chameleon's helpful resource
Ratio Put SpreadLearn the benefits of a Ratio Put Spread option strategy, selling an at-the-money call and buying 2 out-of-the-money calls
Iron Butterfly StrategyA butterfly is a neutral option strategy that is a combination of a bull spread and a bear spread. Butterfly spreads can be used to take advantage of situations where a stock is exhibiting either high or low volatilit...
Put ProtectionProtective puts are used by investors to guard against loss on the unrealized gains of a stock or portfolio. The strategy involves buying one put contract for each 100 shares of stock owned. Buying puts on indexes or...
How the Options Backtester WorksHow to backtest an options strategy on Market Chameleon: the settings in plain English, four ways to open trades, real fills at the bid and ask, reading the results, portfolios, and worked examples on SPY, AAPL and NVDA.
Diagonal Call SpreadLearn the benefits of the Diagonal Call Spread, buying an at-the-money call in the near term and selling an out-of-the-money call in the far term
Diagonal Put SpreadLearn the benefits of the Diagonal Put Spread, buying an at-the-money put in the near term and selling an out-of-the-money put in the far term
Double Bear SpreadLearn the benefits of a Double Bear Spread option strategy, buying an out-of-the-money put spread and selling an out-of-the-money call spread on the same expiration
Watch
How to Track an Option Straddle Benchmark For Risk Management and Trading Strategy
Jun 17, 2026 How to Track the Cost of a Risk Reversal Strategy in Options Trading
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Apr 22, 2026 Covered Call Screener Explained Using Backtests to Compare vs Stock Only Returns
Mar 5, 2026 How to Graph Potential Payouts for Calendar Spreads Easy Options Tutorial
Jan 23, 2026
Jun 17, 2026 How to Track the Cost of a Risk Reversal Strategy in Options Trading
Jun 10, 2026 Call Option Screener Narrow Down Opportunities Faster
May 19, 2026 Stock Volume Burst Screener Detecting Large Intraday Trading Activity
Apr 22, 2026 Covered Call Screener Explained Using Backtests to Compare vs Stock Only Returns
Mar 5, 2026 How to Graph Potential Payouts for Calendar Spreads Easy Options Tutorial
Jan 23, 2026