What an options strategy actually is

the options strategy clause

The platform's written rule, plus options' own clauses: the structure (which options, which strikes, which expiry), the three judgements it expresses, the maximum loss and breakeven, and the exit - because an options rule that leaves the structure and its expiry implicit has left the position undefined. Evaluation only, never a signal or a recommendation - the seed's line, sixth and final telling, on the most misused retail instrument.