# Synthetic Long Stock

> Why not just buy the stock? (The answer has to be capital efficiency or tax treatment - not 'less risk'.)

| Property | Value |
| --- | --- |
| Market phase | Clear uptrend, expected to continue |
| Driver | Delta - you get paid because price moves your way |
| Direction | strongly bullish |
| Max profit | unlimited |
| Max loss | the strike plus the debit paid |
| Risk defined | Yes |
| Legs | +1 Call @K; -1 Put @K |
| Approval level | 4 (Uncovered short positions - the highest approval tier and margin requirement) |
| Experience | Advanced |

## Formulas

```text
Break-even: K + D
Max profit: unlimited
Max loss: K + D
```

## Legs

1. +1 Call @K
2. -1 Put @K

[Read this strategy on the web](https://www.mindtrajour.com/en/academy/strategies/synthetic-long)