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.

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Options: The Basics

Basic Option Positions

Option Pricing and Greeks

Volatility

VIX (CBOE Volatility Index)

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Bear Put Spread Payoff, Breakeven and R/R

This page explains bear put spread profit and loss at expiration and the calculation of its maximum profit, maximum loss, breakeven point and risk-reward ratio. Bear Put Spread Basic Characteristics Bear put spread is a bearish strategy – it profits when underlying price goes down. The position consists of two put options (hence “put spread”): [more…]

Bull Call Spread Payoff, Breakeven and R/R

This page explains bull call spread profit and loss at expiration and the calculation of its maximum gain, maximum loss, breakeven point and risk-reward ratio. Bull Call Spread Basic Characteristics Bull call spread, also known as long call spread, is a bullish option strategy, typically done when a trader expects the underlying security to increase [more…]

What Is the Difference between Strike Price and Spot Price?

Strike price (also called exercise price) is the price at which you can buy the underlying security when exercising a call option, or the price at which you can sell the underlying when exercising a put option. Spot price means the current market price. In short: spot price = now, while strike price = when [more…]

How to Calculate Historical Volatility in Excel

This page is a detailed guide to calculating historical volatility in Excel. Things Needed for Calculating HV in Excel Historical data (daily closing prices of your stock or index) – there are many places on the internet where you can get it for free, including Yahoo Finance or Google Finance Excel – this guide works [more…]

How to Download Historical Data from Yahoo Finance

This page is a detailed guide to finding and downloading historical data such as daily stock prices or index values from Yahoo Finance. Go to Yahoo Finance homepage: finance.yahoo.com At the moment and on my computer it looks like this. It may look a little different on your device, but the key sections will most [more…]

Long Straddle Payoff Explained

This 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…]

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