Long spread options usually include the following types:
1. Vertical spread option: Vertical spread option is the most basic bull spread option strategy. It is achieved by buying a call option and selling another call option at the same time. The exercise prices of the two call options are different. Vertical spread options can be two options with the same maturity date or "calendar spread options" with different maturity dates.
2. Reverse spread option: Reverse spread option is a variant of vertical spread option. It is achieved by selling a call option with a low exercise price and buying a call option with a high exercise price. The upside-down spread option is more risky than the vertical spread option, but the return is also higher.
3. Spread option: Spread option is realized by buying and selling two call options with higher exercise price at the same time. Options with large spreads can bring higher investment returns, but the risks are also higher.
4. Ratio spread option: The ratio spread option is realized by buying a call option and selling two call options with higher exercise price at the same time. The risk and return of the ratio spread option are relatively high, which is suitable for investors with high risk preference.
The risks and benefits of different types of bull market spread options are very different, so investors should choose their own option strategies according to their risk tolerance and investment objectives.