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

Basic Option Positions

Option Pricing and Greeks

Volatility

VIX (CBOE Volatility Index)

Statistics

Technical Analysis

Other

Recently Added or Updated

Long Straddle Payoff Explained

The page provides detailed explanation of long straddle payoff and the sources of its risk and profit exposures. Long Straddle Payoff Long straddle is a non-directional long volatility strategy. It is generally suitable when you expect the underlying security to be very volatile and move a lot, but you are not sure whether the price [more…]

Long Straddle Option Strategy

Long straddle is a non-directional long volatility strategy. This page explains its payoff, maximum profit and loss and break-even points. It also provides recommendations and tips for trading long straddles. Long Straddle Options A long straddle position consists of two options: Long call Long put Both options have the same strike price (this is how [more…]

Straddle Position

What Is a Straddle? In option trading, a straddle is a position which includes two options: a call and a put, both with the same strike price and the same expiration date. Long Straddle Position When you buy a call and a put with the same strike, same expiration and on the same underlying, you [more…]

Short Put Payoff Diagram and Formula

This page explains short put option payoff. You can find similar pages for the other basic option positions here: long call payoff, short call payoff, long put payoff. Short Call Payoff Diagram A short put option position is a bullish strategy with limited upside and limited (but usually very high) risk. The position is initiated [more…]

Short Call Payoff Diagram and Formula

A short call position is the opposite of a long call option position (the other side of the trade). You sell a call option and receive cash in the beginning. Then you either buy the option back or wait until expiration. The trade is profitable if you buy the option back for a lower price [more…]

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…]

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