Six notable options strategies traders should know about: ZEBRAs (zero-extrinsic back ratios), short puts, Jade Lizards, Iron Condors, Broken Wing Butterflies, and Ratio Spreads. Each strategy serves different market conditions and risk preferences—from stock replacement solutions to probability based strategies with potential for favorable outcomes. These approaches are designed to work with time decay, volatility changes, and directional movement while offering practical applications for various account sizes and trader experience levels.

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