# POST /api/mcp/data/analyze-strategy

> What are the Greeks, breakevens and odds on this set of legs?

Accepts your own legs with premiums and returns the aggregate economics. Fetches live spot when stock_price is omitted.

- **Family:** Strategies (https://apexvol.com/developers/strategies-api)
- **Plan:** Basic and above. Every call needs `Authorization: Bearer avmcp_<token>`; tokens are issued to paid and trial accounts under Account, then API Access.
- **Units:** Premiums in dollars per share; totals per one-lot; probability_of_profit in percent.
- **Basis:** Analytic Black-Scholes on the leg IVs you supply, or chain IVs when omitted.
- **MCP tools:** `analyze_strategy`
- **Background:** https://apexvol.com/learn/options-spread-trading

## Parameters

| Name | In | Default | Range | Meaning |
|---|---|---|---|---|
| `ticker` (required) | body |  | symbol | The underlying. |
| `legs` (required) | body |  | array of {type, action, strike, expiration, premium, quantity, delta, theta, vega, iv} | The legs. |
| `stock_price` | body | live | dollars | Override spot. |
| `name` | body |  | text | A label for the result. |

## Request

```bash
curl -X POST "https://apexvol.com/api/mcp/data/analyze-strategy" \
     -H "Authorization: Bearer avmcp_YOUR_TOKEN" \
     -H "Content-Type: application/json" \
     -d '{"ticker": "SPY", "legs": [{"type": "PUT", "action": "SELL", "strike": 755.0, "expiration": "2026-10-09", "premium": 6.359999999999999, "quantity": 1, "delta": -0.3014, "theta": -0.1785, "vega": 0.8379, "iv": 0.1365}, {"type": "PUT", "action": "BUY", "strike": 750.0, "expiration": "2026-10-09", "premium": 5.35, "quantity": 1, "delta": -0.2581, "theta": -0.1735, "vega": 0.7454, "iv": 0.1416}, {"type": "CALL", "action": "SELL", "strike": 785.0, "expiration": "2026-10-09", "premium": 4.785, "quantity": 1, "delta": 0.297, "theta": -0.1318, "vega": 0.8329, "iv": 0.1084}, {"type": "CALL", "action": "BUY", "strike": 790.0, "expiration": "2026-10-09", "premium": 3.275, "quantity": 1, "delta": 0.2281, "theta": -0.1136, "vega": 0.735, "iv": 0.1062}], "name": "Iron condor from /build-strategy"}'
```

## Response (captured 2026-09-08)

Real response, lists cut to the rows nearest the money. The envelope is `{"success": true, "data": ...}`.

```json
{
  "success": true,
  "data": {
    "breakevens": [
      752.48,
      787.52
    ],
    "legs_summary": [
      {
        "action": "SELL",
        "expiration": "2026-10-09",
        "iv": 0.1365,
        "premium": 6.36,
        "quantity": 1,
        "strike": 755.0,
        "type": "PUT"
      },
      {
        "action": "SELL",
        "expiration": "2026-10-09",
        "iv": 0.1084,
        "premium": 4.785,
        "quantity": 1,
        "strike": 785.0,
        "type": "CALL"
      },
      {
        "action": "BUY",
        "expiration": "2026-10-09",
        "iv": 0.1062,
        "premium": 3.275,
        "quantity": 1,
        "strike": 790.0,
        "type": "CALL"
      }
    ],
    "max_loss": -248.0,
    "max_profit": 252.0,
    "net_delta": -0.0256,
    "net_premium": -252.0,
    "net_theta": 0.0232,
    "net_vega": -0.1904,
    "pnl_curve": [
      [
        600.0,
        -248.0
      ],
      [
        603.5152,
        -248.0
      ],
      [
        607.0303,
        -248.0
      ]
    ],
    "probability_of_profit": 41.7,
    "risk_reward_ratio": 1.0161,
    "stock_price": 770.25,
    "strategy_name": "Iron condor from /build-strategy",
    "ticker": "SPY"
  }
}
```

## Fields

- `net_premium, max_profit, max_loss, risk_reward_ratio`: The economics.
- `net_delta, net_theta, net_vega`: Aggregate Greeks.
- `breakevens[], probability_of_profit`: Where it pays and how often.
- `pnl_curve[]`: Price and P&L pairs at expiration.

## Errors

- `401`: no or revoked token
- `429`: Retry-After seconds
- `400`: missing or malformed body
- Full list: https://apexvol.com/developers/errors

## Ask it in an MCP client

- Analyze this iron condor on SPY: sell 750 put, buy 745 put, sell 790 call, buy 795 call for October.
- What are the breakevens on a NVDA 200/210 call spread?
- Give me the Greeks and probability of profit on my legs.

Conventions for units, bases and timestamps: https://apexvol.com/developers/conventions