What Is a ‘Strike Ladder’ in Options Trading?

A strike ladder, or strike price chain, is the list of available strike prices for a given option contract on an underlying asset, typically displayed by an exchange or broker. These strike prices are usually set at fixed intervals around the current market price of the underlying asset.

Traders use the strike ladder to select the specific option contract (strike price) that aligns with their market outlook, whether they are buying deep in-the-money or far out-of-the-money options.