Derivative strategy reference / complete catalog

BLOCK

A visual reference system for understanding derivative structures before they enter research, validation, or execution. Select an asset class, inspect the trade, and examine how payoff changes across market states.

Read the research: Where the Fee Lives →
120Catalog strategies mapped
across seven asset classes
Equity / 001 / option

LONG CALL

The buyer pays a premium for the right—but not the obligation—to buy the underlying at the strike price. The position expresses a bullish view with limited downside and theoretically unlimited upside.

PAYOFF AT EXPIRY
max(ST − K, 0) − P

ST = terminal price
K = strike
P = premium

Expiry payoff

Net profit / loss
Long call payoff at expirationThe horizontal axis shows underlying prices from seventy to one hundred thirty. The vertical axis shows net profit and loss from negative six to positive twenty-four. Loss is limited to six below the strike of one hundred. Profit begins above the breakeven price of one hundred six. NET P/LMAX LOSS = PREMIUM OTMATMITM +$24+$14$0−$6 $70$85$100$106$120$130 STRIKEBREAKEVENUNDERLYING PRICE →NET PROFIT / LOSS
The premium creates the flat maximum-loss region. Above the strike, intrinsic value rises dollar-for-dollar; above 106, the trade is profitable after recovering the premium.

Structure map

Vanilla equity option
Option BuyerBuys upside optionality
Long CallRight to buy at strike
Option SellerWrites the option
Buyer →Upfront premium
Seller →Intrinsic value if exercised
The buyer pays premium at inception. If the option finishes in the money, the seller delivers the intrinsic value or underlying according to settlement terms.

Illustrative trade

At expiration
UnderlyingXYZ
Strike$100
Premium$6
Breakeven$106
ITM
XYZ closes at $120$20 intrinsic value − $6 premium
+$14
ATM
XYZ closes at $100No intrinsic value; premium is lost
−$6
OTM
XYZ closes at $85Option expires without exercise
−$6

Illustrative reference only. Excludes volatility changes, early exercise, transaction costs, taxes, liquidity, and assignment risk. Not investment advice.

Structure map

The diagram separates the counterparties, contractual instrument, and principal economic legs. Direction shown is illustrative and may reverse with trade orientation.

Payoff / settlement profile

Strategy payoff or settlement profileA conceptual chart showing economic outcomes across adverse, base, and favorable market states.

Illustrative trade

Conceptual example

Illustrative reference only. Simplified examples exclude transaction costs, taxes, liquidity, counterparty exposure, collateral, documentation, and model risk. Not investment advice.

Catalog status
COMPLETE

All seven asset classes and all 120 repository strategies are mapped with structure maps, payoff profiles, formulas, and illustrative market states.

Searchable reference / complete coverage

120 derivative strategies across seven asset classes.

BLOCK connects each strategy name to a plain-language description, contractual structure map, payoff or settlement profile, core formula, terms, and illustrative market outcomes. Open an asset class above to explore the interactive reference.

Equity — 28 strategies

Long Call • Long Put • Covered Call • Protective Put • Bull Call Spread • Bear Put Spread • Butterfly Spread • Condor Spread • Iron Condor • Calendar Spread • Put Spread Collar • Lookback Option • Autocallable Equity Note • Equity Forward • Total Return Swap (Equity) • Amortizing Strike Forward • Asian Option (Equity) • Accelerated Share Repurchase • Forward Start Option • Accreting Strike Forward • Cliquet Option • Variance Contingent Swap • Volatility Swap • Variance Swap • Conditional Variance Swap • Bespoke Option • Barrier Option (Equity) • Deposit-Based Strategy

Rates — 30 strategies

Forward Rate Agreement • Interest Rate Swap • Average Rate Swap • Swap Spread • Callable Swap • Swap in Arrears • OIS Swap • Onshore OIS Swap • Treasury Lock • Zero Coupon Swap • Onshore IRS • Cap / Floor • Collar • Cap/Floor Straddle • Cap/Floor Spread • Swaption • European Swaption • Bermudan Swaption • Straddle Swaption • Mark-to-Market Cross-Currency Swap • Non-MTM Cross-Currency Swap • Cross-Currency Swap Spread • Onshore Non-MTM Cross-Currency Swap • Non-Deliverable Cross-Currency Swap • Interest Rate Basis Swap • Constant Maturity Swap • CMS Spread Option • Range Accrual • Zero-Coupon Inflation Swap • Inflation Cap / Floor

Foreign exchange — 26 strategies

Spot Transaction • Spot Transaction Onshore • Outright Forward • Outright Forward Onshore • Average Rate Forward • Target Forward • Forward Accumulator • FX Swap • FX Swap Onshore • Time Option • Risk Reversal • Straddle • Strangle • One-Touch / No-Touch • Simple Barrier Option • Double Barrier Option • Average Rate Option • Digital Option • Vanilla Option • Quanto Option • Non-Deliverable Option • Non-Deliverable Option Onshore • Non-Deliverable Forward • Non-Deliverable Forward Onshore • NDF FX Swap • NDF FX Swap Onshore

Credit — 15 strategies

Credit Default Swap (Single-Name) • Credit Default Swap (Index) • CDS Index Option • Rate Participation Agreement • Total Return Swap • CDS Index Tranche • Bespoke CDS Basket • First-to-Default Basket • Nth-to-Default Basket • Loan Credit Default Swap • Recovery Swap • Credit Spread Option • Credit-Linked Note • Synthetic CDO • Asset Swap

Commodity — 14 strategies

Commodity Futures Contract • Total Return Swap (Commodity) • Commodity Forward • Commodity Swap • Commodity Call / Put • Commodity Collar • Three-Way Commodity Collar • Crack Spread • Crush Spread • Commodity Calendar Spread • Commodity Basis Swap • Asian Commodity Option • Swing Option • Weather Derivative

Municipal — 4 strategies

Municipal Total Return Swap • MMD (Municipal Market Data) Total Return Swap • MMD Rate Lock • Municipal Fees

Funding — 3 strategies

Deposit • Interaffiliate Loan • Cost of Funds