[Series 65] 33, Options Strategies and Risk Profiles

[Series 65] 33, Options Strategies and Risk Profiles

From Open Exam Prep by Ran Chen, EA, CFP®

April 26, 2026 · 4 min

About this episode

In this episode, Ran Chen discusses various options strategies and their associated risk profiles.

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A covered call is used to generate income on a long stock position but caps the maximum potential gain. - A protective put acts as insurance for a long stock position, limiting downside risk while retaining unlimited upside potential. - The breakeven for a covered call is calculated by subtracting the premium received from the stock's purchase price. - The breakeven for a protective put is found by adding the premium paid to the stock's purchase price. - A long straddle is a speculative strategy for investors who anticipate high volatility in a stock but are uncertain of the direction of the price movement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

People in this episode

Host: Ran Chen

Topics covered

  • options strategies
  • risk profiles
  • covered call
  • protective put
  • long straddle
  • volatility

Keywords

  • options strategies
  • covered call
  • protective put
  • long straddle
  • risk profiles
  • breakeven
  • volatility

Mentioned in this episode

Organizations: Open Exam Prep

Products: Series 65

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