Options strategies are normally used in trading options, as an attempt to gain further trading ground and stock position.
Applying and understanding option strategies is more of implementing one or two option positions.
Options, on the other hand, are financial instruments that give a buyer the rights to either purchase or sell options, provided that it is negotiated at a specific price and at a specified period.
Call options increase in value once underlying asset prices increase in cost.
Put options likewise increase in value once stock prices decrease in cost.
Buying both securities is a great example of understanding option strategies, since it enables the trader to earn profits on chosen options.
Types of Options Strategies

• Bullish strategyExpectations in stock market trends are natural.
  When an investor anticipates a designated increase in underlying stock price, a bullish strategy is being employed as trading essential.
  Assessing stock prices and movements are also necessary to maximize this strategy's potential, for the most effective among bullish strategies, is the one which makes use of market trends and changes in price of stocks.
  
• Bearish StrategyThis is considered as the spitting image of bullish strategies.
  When a trader expects underlying stock prices to go down, this is the strategy to work with.
  In addition, a trader needs to determine how low are the expected decreases in stock prices will be along with expected time frames, in order to select the best trading practice and technique.
  
• Neutral or Non-directional StrategiesNeutral or Non-directional strategies are great examples of trading scenarios, where understanding options strategies become very suitable.
  These strategies are used when traders are unsure of movements relative to underlying stock prices.
  They are aptly called 'non-directional' because the possibility of earning income is likewise unstable.
  This is because trends neither indicate a possible profit nor loss.
  More so, the determination of income rests on expected volatility of underlying stock prices.
  Neutral strategies likewise come in many forms and one of which are called Straddles.
  This type of non-directional strategy entails holding a stock position by means of both call and put options.
  Primarily, profits are generated if the underlying stock changes in price significantly, which is either lower or higher.
  Bought options are the ones referring to long straddles and the sold options are the ones considered short straddles.