# Swoopr Investment: Options Trading Fundamentals
# Scoped content manifest for LLM agents and web crawlers.
# Generated: 2026-10-18
# 39 pages in this section.
# Root index: https://www.getswoopr.com/llms.txt

## Options Trading Fundamentals

- [Options Trading Fundamentals](https://www.getswoopr.com/options-trading/) ([Markdown](https://www.getswoopr.com/options-trading.md)): Options trading fundamentals: calls and puts, moneyness, intrinsic and time value, the Greeks, covered calls, protective puts, spreads, and risk management.
- [Bear Call Spread Payoff Diagram](https://www.getswoopr.com/options-trading/bear-call-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/bear-call-spread-payoff.md)): Bear call spread payoff diagram: breakeven, max profit, max loss, and construction for this bearish credit spread. Worked examples and risk/reward analysis.
- [Bear Put Spread Payoff Diagram](https://www.getswoopr.com/options-trading/bear-put-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/bear-put-spread-payoff.md)): Bear put spread payoff diagram: breakeven, max profit, max loss, and construction explained with worked examples. Debit spread with defined bearish risk.
- [Bull Call Spread Payoff Diagram](https://www.getswoopr.com/options-trading/bull-call-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/bull-call-spread-payoff.md)): Bull call spread payoff diagram: breakeven, max profit, max loss, and construction explained with worked examples. Debit spread with capped upside.
- [Bull Put Spread Payoff Diagram](https://www.getswoopr.com/options-trading/bull-put-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/bull-put-spread-payoff.md)): Bull put spread payoff diagram: breakeven, max profit, max loss, and construction for this credit spread strategy. Worked examples and risk/reward analysis.
- [Buying vs Writing Options: Risk/Reward](https://www.getswoopr.com/options-trading/buying-vs-writing-options-risk-reward-profiles/) ([Markdown](https://www.getswoopr.com/options-trading/buying-vs-writing-options-risk-reward-profiles.md)): Long options cap loss with uncapped upside; short options cap premium gain with unlimited loss. Assignment and exercise risk differ for buyers versus sellers.
- [Calendar Spread Payoff Diagram](https://www.getswoopr.com/options-trading/calendar-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/calendar-spread-payoff.md)): Calendar spread payoff diagram explained: how time decay differential creates profit, peak value at expiration, vega risk, & when to use a time spread strategy.
- [Calls, Puts & Option Contract Anatomy](https://www.getswoopr.com/options-trading/calls-puts-and-the-anatomy-of-an-option-contract/) ([Markdown](https://www.getswoopr.com/options-trading/calls-puts-and-the-anatomy-of-an-option-contract.md)): Strike price, expiration, premium, underlying, and contract size are the six elements of every option contract, and each one shapes risk and reward.
- [Covered Calls and Cash-Secured Puts](https://www.getswoopr.com/options-trading/covered-calls-and-cash-secured-puts/) ([Markdown](https://www.getswoopr.com/options-trading/covered-calls-and-cash-secured-puts.md)): Covered call mechanics for yield enhancement, cash-secured put mechanics for defined stock entry, and how both combine into the wheel strategy for income.
- [Delta vs. Underlying Price](https://www.getswoopr.com/options-trading/delta-vs-underlying-price/) ([Markdown](https://www.getswoopr.com/options-trading/delta-vs-underlying-price.md)): How options delta changes as the underlying price moves: the S-curve shape, ATM vs. ITM vs. OTM delta, gamma risk, delta hedging.
- [Diagonal Spread Payoff Diagram](https://www.getswoopr.com/options-trading/diagonal-spread-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/diagonal-spread-payoff.md)): Diagonal spread payoff diagram explained: different strikes and expirations, poor man's covered call setup, asymmetric profile.
- [Expected Move Cone](https://www.getswoopr.com/options-trading/expected-move-cone/) ([Markdown](https://www.getswoopr.com/options-trading/expected-move-cone.md)): How the expected move cone works: calculating the 1-sigma and 2-sigma implied price range from IV, using the cone for strike selection.
- [Gamma vs. Underlying Price](https://www.getswoopr.com/options-trading/gamma-vs-underlying-price/) ([Markdown](https://www.getswoopr.com/options-trading/gamma-vs-underlying-price.md)): How options gamma changes as the underlying price moves: the bell-curve shape, peak gamma at the money, gamma risk near expiration, gamma scalping.
- [Implied Volatility and the Vol Surface](https://www.getswoopr.com/options-trading/implied-volatility-and-the-vol-surface/) ([Markdown](https://www.getswoopr.com/options-trading/implied-volatility-and-the-vol-surface.md)): Implied volatility is backed out of option prices via Black-Scholes. Learn the volatility skew, smile, term structure, and what an elevated VIX signals.
- [Intrinsic Value, Time Value & Moneyness](https://www.getswoopr.com/options-trading/intrinsic-value-time-value-and-moneyness/) ([Markdown](https://www.getswoopr.com/options-trading/intrinsic-value-time-value-and-moneyness.md)): ITM, ATM, OTM defined with formulas, how intrinsic and time value compose the option premium, and why time value decays nonlinearly toward expiration.
- [Iron Condors and Iron Butterflies](https://www.getswoopr.com/options-trading/iron-condors-and-iron-butterflies/) ([Markdown](https://www.getswoopr.com/options-trading/iron-condors-and-iron-butterflies.md)): Iron condors and iron butterflies combine short strangles with long wings to define max loss, probability of profit, and wing width tradeoffs in construction.
- [Long Call Payoff Diagram Explained](https://www.getswoopr.com/options-trading/long-call-payoff-diagram/) ([Markdown](https://www.getswoopr.com/options-trading/long-call-payoff-diagram.md)): Long call payoff diagram: breakeven formula, max profit, max loss, and when to buy a call option. Includes worked examples and risk/reward analysis.
- [Long Put Payoff Diagram Explained](https://www.getswoopr.com/options-trading/long-put-payoff-diagram/) ([Markdown](https://www.getswoopr.com/options-trading/long-put-payoff-diagram.md)): Long put payoff diagram: breakeven formula, max profit, max loss, and when to buy a put option. Includes worked examples and risk/reward analysis.
- [Long Straddle Payoff Diagram](https://www.getswoopr.com/options-trading/long-straddle-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/long-straddle-payoff.md)): Long straddle payoff diagram: breakeven points, max loss, and when to buy a straddle. V-shaped profit profile explained with worked examples.
- [Long Strangle Payoff Diagram](https://www.getswoopr.com/options-trading/long-strangle-payoff/) ([Markdown](https://www.getswoopr.com/options-trading/long-strangle-payoff.md)): The long strangle payoff diagram explained: breakeven points, max loss, unlimited profit potential, and how it compares to the long straddle for volatility.
- [Option Profit / Loss Calculator](https://www.getswoopr.com/options-trading/option-profit-loss-calculator/) ([Markdown](https://www.getswoopr.com/options-trading/option-profit-loss-calculator.md)) (WebMCP tool: calculate_option_pnl): Calculate option profit or loss at expiration for calls and puts, long or short. Enter strike, premium, and underlying price to see P&L and a payoff diagram.
- [Options Expiration, Assignment](https://www.getswoopr.com/options-trading/options-expiration-assignment-and-exercise/) ([Markdown](https://www.getswoopr.com/options-trading/options-expiration-assignment-and-exercise.md)): American vs European exercise, early assignment risk on short options, pin risk near expiration, and how to manage positions into expiry without assignment.
- [Options Greeks Visualizer (Black-Scholes)](https://www.getswoopr.com/options-trading/options-greeks-visualizer/) ([Markdown](https://www.getswoopr.com/options-trading/options-greeks-visualizer.md)) (WebMCP tool: calculate_option_greeks): Visualize option Greeks, delta, gamma, theta, and vega, across underlying prices using Black-Scholes. Enter spot, strike, expiry, volatility, and rate.
- [Options Risk Management](https://www.getswoopr.com/options-trading/options-risk-management-and-position-sizing/) ([Markdown](https://www.getswoopr.com/options-trading/options-risk-management-and-position-sizing.md)): Size options positions by premium at risk, not notional value. Manage portfolio delta and theta, know when to close vs roll, and avoid common beginner mistakes.
- [Options-Derived Market Signals](https://www.getswoopr.com/options-trading/options-signals/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals.md)): Options-derived market signals turn option prices, volume, and open interest into positioning clues, read gamma, flow, and event-move signals carefully.
- [What Is Event Volatility in Options Pricing?](https://www.getswoopr.com/options-trading/options-signals/event-volatility/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals/event-volatility.md)): Event volatility is the pattern of implied volatility rising into scheduled events like earnings, then collapsing afterward in what traders call IV crush.
- [Dealer Gamma Exposure (GEX) Explained](https://www.getswoopr.com/options-trading/options-signals/gamma-dealer-positioning/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals/gamma-dealer-positioning.md)): Dealer gamma exposure (GEX) estimates whether market makers must chase or dampen price moves while delta-hedging, a rough estimate, not a fact.
- [How to Calculate a Stock's Implied Move](https://www.getswoopr.com/options-trading/options-signals/implied-move/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals/implied-move.md)): Implied move is the expected price range priced into options, calculated from the ATM straddle divided by the stock price ahead of earnings or expiration.
- [Options Volume vs. Open Interest](https://www.getswoopr.com/options-trading/options-signals/options-volume-open-interest/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals/options-volume-open-interest.md)): Options volume and open interest measure different things: today's contracts traded versus positions still outstanding, revealing positioning shifts.
- [Unusual Options Activity: How to Read It](https://www.getswoopr.com/options-trading/options-signals/unusual-options-activity/) ([Markdown](https://www.getswoopr.com/options-trading/options-signals/unusual-options-activity.md)): Unusual options activity is a large single trade or volume spike relative to a stock's average volume or open interest, but it cannot show trade intent.
- [Options Volume by Strike Chart](https://www.getswoopr.com/options-trading/options-volume-by-strike/) ([Markdown](https://www.getswoopr.com/options-trading/options-volume-by-strike.md)): How to read the options volume and open interest by strike chart: max pain, gamma exposure, pinning near expiration, put/call ratios by strike.
- [Protective Puts and Collars](https://www.getswoopr.com/options-trading/protective-puts-and-collars/) ([Markdown](https://www.getswoopr.com/options-trading/protective-puts-and-collars.md)): Puts as downside insurance on long stock, cost of the hedge, collar construction with a long put plus short call, and net debit vs net credit collar variants.
- [Short Call Payoff Diagram Explained](https://www.getswoopr.com/options-trading/short-call-payoff-diagram/) ([Markdown](https://www.getswoopr.com/options-trading/short-call-payoff-diagram.md)): Short call payoff diagram: breakeven, max profit, unlimited loss risk, and assignment risk for selling a call option. Worked examples included.
- [Short Put Payoff Diagram Explained](https://www.getswoopr.com/options-trading/short-put-payoff-diagram/) ([Markdown](https://www.getswoopr.com/options-trading/short-put-payoff-diagram.md)): Short put payoff diagram: breakeven, max profit, downside risk, and cash-secured put mechanics for selling a put option. Worked examples included.
- [Tax Treatment of Options Profits](https://www.getswoopr.com/options-trading/tax-treatment-of-options-profits-and-losses/) ([Markdown](https://www.getswoopr.com/options-trading/tax-treatment-of-options-profits-and-losses.md)): Options tax rules explained: the 60/40 rule for index options, Section 1256 contracts, wash sale rules, and how assignment and exercise affect your cost basis.
- [Options Greeks: Delta, Gamma, Theta](https://www.getswoopr.com/options-trading/the-options-greeks-delta-gamma-theta-vega-rho/) ([Markdown](https://www.getswoopr.com/options-trading/the-options-greeks-delta-gamma-theta-vega-rho.md)): Options Greeks, delta, gamma, theta, vega, and rho, measure how option price reacts to the underlying, time, and volatility, with typical values by moneyness.
- [Theta Decay Curve: How Time Value Erodes](https://www.getswoopr.com/options-trading/theta-decay-curve/) ([Markdown](https://www.getswoopr.com/options-trading/theta-decay-curve.md)): The theta decay curve explained: nonlinear time value erosion, why decay accelerates inside 30 DTE, ATM vs. OTM theta, and the sweet spot for premium sellers.
- [Vertical Spread Analyzer](https://www.getswoopr.com/options-trading/vertical-spread-analyzer/) ([Markdown](https://www.getswoopr.com/options-trading/vertical-spread-analyzer.md)) (WebMCP tool: analyze_vertical_spread): Analyze any vertical options spread: enter spread type, strikes, and premiums to calculate max profit, max loss, breakeven, and probability of profit instantly.
- [Vertical Spreads: Debit and Credit](https://www.getswoopr.com/options-trading/vertical-spreads-debit-and-credit/) ([Markdown](https://www.getswoopr.com/options-trading/vertical-spreads-debit-and-credit.md)): Bull call spread, bear put spread, bull put spread, and bear call spread: construction, max profit, max loss, and breakeven formulas explained with examples.