List of Prescribed Strategies for Tailor-Made Combinations 
15/10/2013 
 
Strategy Types Definitions
Call Calendar Spread Sell a near month call and buy a far month call at the same strike
Put Calendar Spread Sell a near month put and buy a far month put at the same strike
Risk Reversal Buy a call and sell a put at lower strike of the same maturity
Call Spread Buy a call and sell a call at higher strike of the same maturity
Put Spread Buy a put and sell a put at lower strike of the same maturity
Call Diagonal Sell a call in near month and buy a call in far month at a different strike
Put Diagonal Sell a put in near month and buy a put in far month at a different strike
Synthetic Futures Buy a call and sell a put at the same strike of the same maturity
Straddle Buy a call and a put at the same strike of the same maturity
Strangle Buy a put at lower strike and buy a call at higher strike of the same maturity
1 x 2 Ratio Call Spread Buy a call and sell two calls at a same higher strike.  All options involved have to be of the same maturity
1 x 2 Ratio Put Spread Buy a put and sell two puts at a same lower strike.  All options involved have to be of the same maturity
Call Ladder Buy a call, sell a call at a higher strike and sell a call at an even higher strike.  All options involved have to be of the same maturity
Put Ladder Buy put, sell a put at a lower strike and sell a put at an even lower strike.  All options involved have to be of the same maturity
Straddle versus Call Buy a call and a put at the same strike and sell a call at a different strike.  All options involved have to be of the same maturity
Straddle versus Put Buy a call and a put at the same strike, sell a put at different strike.  All options involved have to be of the same maturity
Call Butterfly Buy a call, sell two calls at a same higher strike and buy a call at an even higher strike.  All options involved have to be of the same maturity
Put Butterfly Buy a put, sell two puts at a same higher strike and buy a put at an even higher strike.  All options involved have to be of the same maturity
Iron Butterfly Buy a put, sell a call and a put at a same higher strike and buy a call at an even higher strike.  All options involved have to be of the same maturity
Call Condor Buy a call, sell two calls at higher different strikes and buy a call at an even higher strike.  All options involved have to be of the same maturity
Put Condor Buy a put, sell two puts at higher different strikes and buy a put at an even higher strike.  All options involved have to be of the same maturity
Iron Condor Buy a put, sell a put at a higher strike, sell a call at a further higher strike and buy a call at an even higher strike.  All options involved have to be of the same maturity
Box Spread Buy a call and sell a put at the same strike, buy a put and sell a call at a same higher strike.  All options involved have to be of the same maturity
Calendar Spread for Prescribed Strategies Buy any two-legged prescribed combination in far month and sell the same combination in near month
Delta Neutral Combinations Buy single call option, single put option, Call Spread, Put Spread, Straddle, Strangle, Ratio Spread or Risk Reversal while sell or buy the related underlying futures
 

Important Note

Except for Box Spread, all other strategy trades with the values of the positions at expiration independent of the value of relevant underlying instrument are not acceptable.  An example is to buy a synthetic futures (buy a call option and sell a put option at a same strike) and simultaneously sell a futures. Any Tailor-Made Combination, its related order and trade will be deleted by the Exchange if the Tailor-Made Combination is not one of the prescribed strategies or is not created as described.