Options Trading Explained

Explain [OPTIONS_STRATEGY] (e.g., covered calls, iron condor, bull put spread) for someone with [EXPERIENCE_LEVEL] experience. Include: 1) What it is in simple terms, 2) When to use it (market conditions), 3) Max profit, max loss, break-even calculation with example using real numbers, 4) Step-by-step how to set it up, 5) The Greeks involved and their impact, 6) Common mistakes to avoid, 7) A real example with [STOCK]. Educational only.