Disclaimer

Not financial advice.

Spruce is an educational knowledge base. It is not investment, tax, or legal advice; not a recommendation to buy, sell, or hold any security; and not a promise of profit or a guarantee against loss.

Options trading involves substantial risk of loss and is not suitable for everyone. Defined-risk structures still have a defined maximum loss that can be material.

Canadian readers

Account types (TFSA, non-registered, margin), strategy allowlists, and tax treatment vary by broker and CRA rules. Verify with your broker and qualified advisors before acting.

Claims and sources

Where you see [verified], the claim was checked against independent public sources or a primary broker page. Where you see [operator preference], the number is a curriculum default to adapt. See Sources.

License

Apache License 2.0 — see the repository LICENSE and NOTICE files.