Many option strategies are designed to create profit potential and also reduce risk. If you are willing to accept a limited level of both profit and risk, many spreads will do the trick. But these strategies are complex, and might not be worthwhile, given transaction costs and the need to monitor positions constantly. One solution is found in the box spread.
Spreads can be broadly defined as bull or bear. Either may be constructed using calls or puts. In a box spread, you combine bull and bear sp




