There are so many strategies...I couldn't answer that. I have barely scratched the surface. I only deal with buying calls that have a low premium when there is a clear picture of the direction. They are dangerous, they expire, and they require volatility to make money.
If you are expecting a certain direction before they expire (or you are lucky), they can make you much more money than stock...you can also lose your shorts and while not having shares to show for it in the end.
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