long call, long put, short call, short put, bull spread, bear spread, butterfly spread, condor, straddle and  strangle.

Derivative trading strategies include the following: a long call, which involves buying options to buy an underlying asset at a certain price; a long put, which is when one buys an option to sell an underlying asset at a pre-determined price; short calls and short puts – selling options of either type in order to receive the cash premium; bull spreads and bear spreads – involving multiple positions such as calls/puts with different strike prices but same expiration date; butterfly spread – purchasing two call/put options with different strike prices but same expiry date and simultaneously selling two other call/put options at different strike prices along the same expiration date; condor – similar to butterfly spread except four different strike prices are used for both calls and puts respectively; straddle – buying or selling both calls and puts on the same underlying security with the same expiration date but at different strikes; finally, strangle – purchasing or writing either two out-of-the money (OTM) calls or two OTM puts with identical expiration dates.