ratio spreads

A put backspread (otherwise called a ratio volatility spread with puts and put ratio backspread) is a three-legged strategy, created by buying two Out of The Money puts and selling one In The Money...

A call backspread (otherwise called a call ratio volatility spread and call ratio backspread) is a three-legged strategy, created by selling one In The Money (or At The Money) call and buying two Out...