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.
No account needed to look · Live market data · Cancel anytime
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 institutional 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.
What's inside.
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
When you'd reach for it.
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.
Common questions, answered.
Traders who use this also use.
Ready to use
Strategy Lab?
Open it on AAPL right now with live data, or start a 7-day trial to run it on all 5,500+ tickers.