Option is the most flexible financial instrument in the world. In fact, it is the only financial instrument that enables traders and investors alike to make money even when their predictions had gone wrong. Generally, there are three main goals of using options, those are:

1. Leverage/Speculation
2. Income Generation
3. Hedging

Below, there are 58 options strategies which can be applied when the market is going up (bullish), going down (bearish) or sideways (neutral). Furthermore, some of the strategies can be applied to generate monthly income for your portfolio while some of them can be used for hedging and mostly on speculation.