Hey - How do you guys go about the risk management application of option strategy?

Notes do a good job summarizing their profit profile, max gain/loss and breakeven price, but I found it difficult to remember everything.

I am thinking internalizing the formulas for basic call and put, and adding components together to come up with the formula for say covered call, bull call, etc. But that would be time consuming at the exam since I will be working out the formula first.

What is you guys’ method?

Any advice is appreciated!