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<p style="color: #666; font-size: 14px; line-height: 1.8; margin: 15px 0;">Options are financial derivatives that provide the holder with the right, but not the obligation, to buy or sell an underlying asset (such as stocks, commodities, currencies, or indices) at a predetermined price, known as the strike price, within a specified period. The buyer of an option pays a premium to the seller for this right.</p>

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<h3 style="color: #333; font-size: 16px; margin: 10px 0; font-weight: bold;">There are two types of options.</h3>

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<p style="color: #333; font-size: 14px; margin: 10px 0;"><strong style="color: #28a745;">Call Option:</strong> <span style="color: #666;">A call option gives the holder the right to buy the underlying asset at the strike price within the specified period. Call options are typically used when the holder expects the price of the underlying asset to rise.</span></p>
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<p style="color: #333; font-size: 14px; margin: 10px 0;"><strong style="color: #dc3545;">Put Option:</strong> <span style="color: #666;">A put option gives the holder the right to sell the underlying asset at the strike price within the specified period. Put options are generally used when the holder expects the price of the underlying asset to fall.</span></p>
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<h3 style="color: #333; font-size: 16px; margin: 10px 0; font-weight: bold;">Options offer several advantages and features.</h3>

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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #28a745;">1. Flexibility:</strong> Options provide flexibility as the holder has the right, but not the obligation, to exercise the option. This means they can choose to buy or sell the underlying asset based on their assessment of market conditions and price movements.</p>
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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #007bff;">2. Limited Risk:</strong> When buying options, the maximum loss is limited to the premium paid. This limited risk makes options an attractive choice for traders and investors.</p>
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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #ff9800;">3. Leverage:</strong> Options offer leverage, enabling traders to control a larger position in the underlying asset with a smaller upfront investment. This leverage amplifies potential gains but also increases the potential for losses.</p>
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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #6f42c1;">4. Hedging:</strong> Options can be used as a hedging tool to mitigate risks in an existing investment portfolio. By purchasing put options, investors can protect their positions against potential downside risk.</p>
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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #333;">5. Option Expiration:</strong> Options have an expiration date, after which they become invalid. Traders must exercise or close their options positions before the expiration date.</p>
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<p style="color: #666; font-size: 14px; margin: 8px 0;"><strong style="color: #007bff;">6. Option Strategies:</strong> Traders can combine multiple options contracts and underlying assets to create various trading strategies, such as spreads, straddles, and strangles, to profit from different market scenarios and volatility.</p>
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<p style="color: #666; font-size: 14px; line-height: 1.8; margin: 0;">It's important to note that options trading involves risks, including the potential loss of the premium paid and the complexities associated with pricing and market movements. Understanding the intricacies of options and employing proper risk management strategies and practicing it on <strong>virtual trading platform - SmartBulls</strong> is crucial for successful options trading.</p>
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