Any Idea to go long on stocks and play option and futures?

Ifly answered one year ago …

I found this question unanswered so I will give it a go.
If you want to go long on a stock and have some option plays on the side, the Collar is the best strategy. Buy 1000 shares, Buy 10 puts 1 or 2 strikes OTM, Sell 10 calls the same distance OTM as the puts. This makes a synthetic call spread. The advantages over a regular call spread are the avenues of adjustment. The total position is delta positive so you make money as the stock goes up. You are protected on the down side by the puts ,which in turn are financed by the sold calls ( free insurance for your stock) . When the stock goes up 1 strike roll the collar up to lock in the profit. If the stock goes down wait until you think it has bottomed and then cash in the now valuable puts and use the money to buy more shares and reset the collar. This strategy takes advantage of the bull runs while offering protection if you are wrong. It best works on stocks that move in either direction more than 5% per month.
This is the basic strategy. You can get really cute adding credit spreads or butterflies, but start with the basics.
Cheers
Ifly