[thro1237]

Thanks -- Is there some software (mostly free) where I can model these strategies and understand the payoffs, etc?

[durkie]

http://www.optionsprofitcalculator.com/ seems to be kind of popular, but it's not the most intuitive to use. I think of this as something that many brokerages offer...

[jonknee]

This is a pretty clean list of all the common strategies along with charts showing their P/L:

http://www.theoptionsguide.com/option-trading-strategies.asp...