Excel tools and resources for options & volatility trading

Excel Calculators

Option Strategy Payoff Calculator

Payoff charts, break-even points and risk-reward ratios for 54 strategies. Great way to learn options.

Option Strategy Simulator

Aggregate Greeks, what-ifs, volatility skew, and more advanced option strategy modelling. Also intraday.

Free Resources

Options: The Basics

Option Pricing and Greeks

Volatility

VIX (CBOE Volatility Index)

Statistics

Technical Analysis

Other

Recently Added or Updated

Standard Deviation of Negative Numbers

Can you find standard deviation of negative numbers? Sure you can. While standard deviation (the result) can’t be negative, the individual numbers that you calculate standard deviation for can reach any value, including negative. How to calculate standard deviation of negative numbers Exactly in the same way you calculate standard deviation for positive numbers, or [more…]

Can Standard Deviation Be Negative? No (See Why)

In one word: No. Why Standard Deviation Can’t Be Negative First, let’s stop for a moment and think about what standard deviation represents. It measures variability in a data set. When you have some set of numbers and calculate its standard deviation, the resulting number tells you to what extent the individual numbers in the [more…]

Can Variance Be Negative? No (See Why)

In one word: No. Why Variance Can’t Be Negative The reason is that the way variance is calculated makes a negative result mathematically impossible. Variance is the average squared deviation from the mean. Notice the word “squared”. Why Variance Calculation Can’t Give Negative Result To calculate variance, you: Take each observation (number) in the data [more…]

Black-Scholes Model – All Resources

Black-Scholes Model Formulas and Guides Black-Scholes formulas – Explanation of Black-Scholes formulas for d1, d2, call price and put price. Step-by-step guide to calculation of option prices under the Black-Scholes model. Formulas for option Greeks (delta, gamma, theta, vega, rho). Black-Scholes Excel implementation – Illustrates how the formulas above are implemented in Excel. Detailed guide [more…]

Put Option Payoff Diagram and Formula

This page explains put option payoff. We will look at: A put option’s payoff diagram All the things that can happen with a long put option position, and your profit or loss under each scenario Exact formulas to calculate put option payoff Calculation of put option payoff in Excel Calculation of a put option position’s [more…]

Call Option Payoff Diagram, Formula and Logic

This page explains call option payoff / profit or loss at expiration. We will look at: A call option’s payoff diagram All the things that can happen when you are long a call option, and your profit or loss under each scenario Exact formulas to calculate a call option’s payoff Calculation of call option payoff [more…]

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