Which option strategy has the same payoff diagram as a long call?

The option strategy that has the same payoff diagram as a long call is the short put strategy. A long call option gives the holder the right to buy an underlying asset at a specified strike price, resulting in potential unlimited profit as the underlying asset price increases while limiting the loss to the premium paid for the option.

The payoff diagram for a long call starts at the strike price, where the payoff is zero. As the underlying asset price increases beyond the strike price, the payoff rises linearly, reflecting the profit the holder gains as the asset appreciates.

In contrast, a short put strategy obligates the seller to buy the underlying asset at the strike price if the option is exercised. The payoff for a short put is identical to that of a long call because when the underlying stock price is above the strike price, the short put is not exercised, leading to a profit equal to the premium received. If the stock price falls below the strike price, the loss increases as the stock price decreases, but the loss is capped at the strike price minus the premium received.

This similarity in the payoff profiles - with both strategies exhibiting unlimited profit as the asset price rises and losses being realized only as the asset price falls below a certain level - makes the short put strategy equivalent