Put And Buy Call Strategy — Sell

: Synthetic Long Stock and Option Trading: Evidence from Stock Splits examines how capital-constrained traders use this strategy to maintain market exposure.

: You have unlimited upside but also face "uncapped" downside risk identical to owning the stock. Risk Reversal (Different Strikes) : sell put and buy call strategy

: Sell an Out-of-The-Money (OTM) put and buy an OTM call. : Synthetic Long Stock and Option Trading: Evidence

: Replicate 100 shares of stock performance with minimal upfront cost. sell put and buy call strategy