Taking the time to understand the intermediate strategies learned in this section should keep you busy for months, if not longer. But if you want to experiment with advanced strategies, then this chapter should meet your needs. As I mention at the beginning of the book, trading options is like playing chess. But when you use advanced strategies, it’s similar to playing 3D chess. With these strategies, there are multiple ways to make—or lose—money.
The advanced strategies included in this chapter are the playground of the experienced trader. Instead of buying and selling positions with one or two legs, some of these strategies involve three or more legs. This is what makes these strategies intriguing and powerful.