Tools
32 calculators,
no signup.
Four quick calculators on this page, a full calculator for every common structure, and the five Terminal tools that run on live data.
Quick calculators
Four numbers,
right here.
P&L, position size, expected move and Black-Scholes, computed in the page.
Option P&L
Profit or loss for a single option at any stock price.
Results
Enter values and calculate.
Every calculator
One per
structure.
Each opens on its own page with the inputs, the formula and worked examples.
Income 5 calculators
Covered call
Income and P&L on a covered call, with the annualised yield.
Cash-secured put
Premium income, cash required, breakeven and annualised return on cash.
Wheel strategy
Full-cycle wheel income: the put leg and the call leg, with the annualised return.
Annualised return
Annualised return on covered calls and cash-secured puts.
Poor man's covered call
Diagonal cost, capital saved and max profit against a standard covered call.
Spreads and structures 10 calculators
Iron condor
Max profit, max loss and both breakevens.
Credit spread
Bull put and bear call: credit, max loss, breakeven.
Debit spread
Bull call and bear put verticals: cost, max profit, breakeven.
Butterfly
Debit, max profit at the body strike and the two breakevens.
Calendar spread
Net debit, the front and back legs and the profit zone.
Straddle
Breakevens and P&L at any price, long or short.
Strangle
Breakevens, cost and the move required, long or short.
Collar
Floor, cap, net cost and max profit.
Protective put
The floor, the insurance cost and the new breakeven.
Breakeven
The breakeven price for every common structure.
Pricing, Greeks and single options 10 calculators
Options profit calculator
Multi-leg P&L with all the Greeks and a price-by-time heatmap.
Greeks calculator
Delta, gamma, theta, vega and rho for any option.
IV calculator
Implied volatility, IV rank and IV percentile, with a live lookup.
Long call
P&L, breakeven and return on risk.
Long put
P&L, breakeven and max profit.
Theta decay
Black-Scholes theta per day and the decay schedule.
IV crush
Option value before and after an earnings IV crush.
Roll calculator
Net credit or debit and the new breakeven when rolling.
Assignment risk
Assignment probability and the dividend against extrinsic test.
Margin
Reg-T margin estimates by position type.
Risk and analysis 7 tools
Options Profit Calculator Real-Time Institutional Data
Calculate options profit and loss, breakeven prices, and all Greeks instantly. Supports multi-leg strategies like iron c...
Options Probability Calculator Real-Time Data
Calculate the probability of profit for any options trade. See exact odds of success, ITM probability, and expected move...
Expected Move Calculator IV-Based
Calculate the expected price range for any stock based on current implied volatility. Essential for iron condors, stradd...
Position Size Calculator Risk Management
Calculate the right number of contracts to trade based on your account size and risk tolerance. Never over-leverage agai...
Max Pain Calculator Expiration Week
Calculate the max pain price where option sellers achieve maximum profit. Use this contrarian indicator for expiration w...
Hedge Ratio Calculator Delta Hedging
Calculate the exact hedge ratio to protect your portfolio. Determine how many shares, puts, or calls needed to achieve d...
Portfolio Greeks Calculator Multi-Position
Calculate portfolio-level Greeks across all your positions. See total delta, gamma, theta, and vega exposure to understa...
Full feature
The Terminal tools,
on live data.
Five modules that do what a calculator cannot: read the live chain. AAPL is open to everyone; every plan opens all 5,500+ tickers.
Strategy Lab Live
Build any strategy, see the P&L, and test what-if scenarios on real data.
Volatility Lab Live
The IV surface, the smile, term structure and skew.
Greeks Heatmap Live
Every Greek across all strikes and expirations at once.
Options Flow Live
Unusual activity and large institutional trades.
GEX Analysis Live
Dealer gamma exposure and the levels it creates.
The calculators
with the chain filled in.
The Terminal runs the same maths on the live chain, every strike and expiration at once. A free account runs every module on AAPL with no card; every plan includes a 7-day free trial.
Real market data, not a sandbox. See it live on AAPL.