Call Strategy | Sell Put And Buy

: Risk Reversal - Options Math for Traders details how this variation exploits "skew" (the price difference between puts and calls) to potentially enter trades for a net credit. Strategic Overview Synthetic Long Stock (Same Strike) :

: Sell an Out-of-The-Money (OTM) put and buy an OTM call. sell put and buy call strategy

: Often established for a net credit or zero cost, as the put premium sold typically covers the call premium bought. : Risk Reversal - Options Math for Traders