OPTIONS
Strategy Visualizer
Build multi-leg options strategies and visualize P&L across price and volatility scenarios. Analyze Greeks and understand risk exposure in real-time.
Quick Strategy Templates
Position Legs
Greeks
Delta (Directional)
0.50
~50 shares equivalent
Theta (Time Decay)
$-0.10
Per day
Gamma (Acceleration)
0.050
Delta change per $1
Vega (IV Risk)
0.10
Per 1% IV change
Risk Profile
Max Profit$970
Max Loss$-500
Breakeven$155
Profit/Loss Diagram
0%
Adjust to see impact of IV crush (earnings) or IV expansion (uncertainty). Orange dashed line shows current P/L before expiry.
Understanding Options Strategies
Multi-Leg Strategies
Combine multiple option positions to create asymmetric payoffs. Spreads limit both risk and reward, while straddles/strangles profit from volatility.
The Greeks
Delta measures directional exposure. Theta quantifies time decay. Vega captures IV risk. Gamma shows how delta changes with price.