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List of ICE Strategies

TT Strategy Name

ICE Strategy Name

Create in the following sequence from the Buy perspective
Box Box

Buy Call, Sell Put at same strike Buy Put at higher strike Sell Call at same strike

Butterfly Call Butterfly

Buy Call, Sell two Calls at higher strikes Buy Call at higher strike

Note: The strikes do not have to be consecutive and the gaps between them do not need to be equal.

Put Butterfly

Buy Put, Sell two Puts at higher strikes Buy Put at higher strike

Note: The strikes do not have to be consecutive and the gaps between them do not need to be equal.

Calendar Call Calendar Spread Sell near month Call, Buy far month Call at same strike
Put Calendar Spread Sell near month Put, Buy far month Put at same price
Call Spread vs. Put Call Spread vs. Put: 3 Way Buy Call, Sell Call at higher strike, Sell Put at any strike
Condor Call Condor

Buy Call, Sell Call at higher strike, Sell Call at even higher strike, Buy Call at yet higher strike

Note: The strikes do not have to be consecutive and the gaps between them do not need to be equal.

Put Condor

Buy Put, Sell Put at higher strike, Sell Put at even higher strike, Buy Put at yet higher strike

Note: The strikes do not have to be consecutive and the gaps between them do not need to be equal.

Conversion/Reversal Reversal/Conversion (to the Call)

Reversal: Buy Call, Sell Put at same strike, Sell Underlying (enter Underlying price). Put strike price, Call strike price, and the Underlying price all must be the same. Option expiry for all the legs should be the same.

Conversion: Same as above but sell in trading window.

Reversal/Conversion (to the Put)

Reversal: Buy Put, Sell Call at same strike, Buy underlying (enter underlying price). Put strike price, Call strike price, and the Underlying price all must be same. Option expiry for all the legs should be the same)

Conversion: Same as above but sell in trading window.

Diag Calendar Diagonal Call Spread Sell near month Call, Buy any far month Call at different strike
Diagonal Put Spread Sell near month Put, Buy any far month Put at different strike
Diag Strad Calendar Straddle Spread Sell near month Put, Sell near month Call at same strike, Buy far month Put at different strike, Buy far month Call at same strike
Guts Gut Strangle Buy Call, Buy Put at higher strike
Iron BFly Iron Butterfly

Sell Put, Buy Put and Call at higher strike. Sell Call at even higher strike.

Option expiry for all the legs should be the same.

Note: The strikes do not have to be consecutive and the gaps between them to not need to be equal.

Iron Condor Iron Condor

Sell Put, Buy Put at higher strike, Buy Call at even higher strike, Sell Call at even higher strike.

Note: All series must be the same expiry month.

Jelly Roll Jelly Roll

Sell Call, Buy Put at same strike in near month, Buy Call in far month, Sell Put at same strike in far month

Note: The strike price in the far month does not need to equal the strike price in the near month.

Ladder Call Ladder

Buy Call, Sell Call at higher strike, Sell Call at even higher strike

Note: The strikes do not have to be consecutive and the gaps between them to not need to be equal.

Put Ladder

Sell Put, Sell Put at higher strike, Buy Put at even higher strike

Note: The strikes do not have to be consecutive and the gaps between them to not need to be equal.

Misc. Call/Put Spread Call Spread

Buy Call, Sell Call same month at higher strike

Put Spread Buy Put, Sell Put same month at lower strike
Option Strip Straddle Strip Buy between two and four straddles in one or more expiration months entered as... Buy Call; Buy Put with strikes and expiry months entered in ascending order

Note:

This strategy is no longer supported. Although it can still be created as a custom strategy.

Call Strip

Buy between three and eight Calls.

Note:

This strategy is no longer supported. Although it can still be created as a custom strategy.

Put Strip

Buy between three and eight Puts.

Note:

This strategy is no longer supported. Although it can still be created as a custom strategy.

Put Spread vs. Call Put Spread vs. Call: 3 Way Buy Put, Sell Put at lower strike, Sell Call at any strike
Strad Calendar Straddle Spread Sell near month Put, Sell near month Call at same strike, Buy far month Put at same strike, Buy far month Call at same strike
Straddle Straddle Buy Put Buy Call at same strike
Straddle vs. Call/Put Straddle vs. Call: 3 Way Buy Put, Buy Call at same strike, Sell Call at any strike. Option expiry for all the legs should be the same.
Straddle vs. Put: 3 Way Buy Put, Buy Call at same strike, Sell Put at any strike. Option expiry for all the legs should be the same.
Strangle Strangle Buy Put, Buy Call at higher strike
Synthetic Conv/Rev Synthetic Underlying

This is a standard Conversion/Reversal strategy but without the underlying leg.

Buy Call, Sell Put at same strike.

Conversion: As above but Sell in trading window.

2x1 Ratio 1x2 Ratio Call Spread Sell Call, Buy two Calls at higher strike. Option expiry for all the legs should be the same.
1x2 Ratio Put Spread Sell Put, Buy two Puts at lower strike. Option expiry for all the legs should be the same.