Strategy Lab
14 strategy templates, a custom multi-leg builder, payoff diagrams, and live-data scenario testing. See P&L at any price, any date, any IV shift — before any capital is at risk.
What is Strategy Lab?
Strategy Lab The Strategy Lab is a multi-leg options position builder and simulator that calculates payoff diagrams, probability of profit, Greeks and risk metrics for any strategy structure.
Supports up to 4 option legs plus stock positions. All calculations use live ORATS data with real-time bid/ask prices.
Why This Matters for Your Trading
How professional options traders use Strategy Lab to find edge.
Test Before You Risk Capital
See the exact P&L at every price point before entering. Know your max loss, max gain and breakevens so there are no surprises.
Optimise Strike Selection
Adjust strikes and see the payoff diagram update in real time. Compare a 30-delta iron condor vs a 20-delta to find the best risk/reward for current IV levels.
Understand Greeks Before Entry
See aggregate delta, gamma, theta and vega for your entire structure. Know how much the position gains per day from theta and how much it loses per 1% IV move from vega.
Probability-Based Decision Making
Built-in probability of profit calculation tells you the statistical likelihood of the trade finishing profitable — essential for income strategies.
See It in Action
Payoff diagram with breakevens, max profit/loss and probability of profit
14 one-click strategy templates from covered calls to jade lizards
Greeks breakdown by price and time with decay projections
Key Features
14 Strategy Templates
Covered call, iron condor, butterfly, jade lizard and more — one click to load
Payoff Diagram
Visual P&L curve showing profit/loss at every price point at expiration
Probability of Profit
Statistical likelihood of the strategy finishing profitable
Greeks Breakdown
Aggregate and per-leg delta, gamma, theta, vega with time decay projections
How It Works
Choose a Strategy
Click a preset template or manually add option legs
Select Strikes
Pick strikes from the live chain or adjust manually
Review the Payoff
See the P&L diagram, breakevens, max profit/loss and probability
Analyse Greeks
Check aggregate Greeks and time decay projections before entering
Use Cases
Load the iron condor template, adjust wing widths until probability of profit exceeds your threshold, and verify theta/vega ratio before entry.
Build a straddle or strangle, check the breakeven vs expected move, and see how much IV crush would affect P&L.
Add 100 shares plus a short call, slide the strike to find the best balance between premium income and upside cap.
Before entering any multi-leg trade, verify max loss fits your position sizing rules and that Greeks align with your market view.
Frequently Asked Questions
How many legs can I add?
Up to 4 option legs plus stock positions. This covers virtually any strategy including iron condors, butterflies, jade lizards and custom structures.
Does it use real-time pricing?
Yes. All calculations use live ORATS data with real-time bid/ask prices, so payoff diagrams and Greeks reflect current market conditions.
Can I simulate IV changes?
Yes. You can adjust IV levels to see how an IV crush or expansion would affect your position P&L and Greeks.
Related Features
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