2 common methodologies for pricing options - Black and Scholes & Binomial pricing
Black and Scholes methodology is more analytical, is faster to compute and is mainly used to price European options.
Binomial pricing methodology is more computational, taken more computing power and is mainly used to price American options.
Vanilla options - four basic option positions - long call, long put, short call and short put option.
Combination strategies - Bull call spread, Bull put spread, Bear put spread, Bear call spread, Short Strangle, Short Straddle, Long Butterfly, Long Strangle, Long Straddle, Short butterfly, Covered call, Covered put, Protective call, Protective put
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