This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- A covered call is an income strategy where you sell a call against a stock you own, capping your upside but lowering your breakeven point.

- The breakeven for a covered call is the stock's cost basis minus the premium received.

- A protective put is a risk management strategy where you buy a put to set a floor on the potential loss of a stock you own.

- The breakeven for a protective put is the stock's cost basis plus the premium paid.

- Suitability is key: covered calls are for neutral-to-bullish investors seeking income, while protective puts are for bullish investors seeking downside protection.

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