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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Free Tutorials

Options: The Basics

Basic Option Positions

Option Pricing and Greeks

Volatility

VIX (CBOE Volatility Index)

Statistics

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Excel Reverse Date Problem and How to Fix It

When you work with time series in Excel and import data from sources which use different date format than your operating system, Excel sometimes loads the dates incorrectly. It may swap day and month or not recognize the expression as date and treat it as text. The first solution to try is the Text to [more…]

Option Payoff Excel Tutorial

Contents Calculating Call and Put Option Payoff in Excel Merging Call and Put Payoff Calculations Short Option Payoff and Position Size Option Strategy Payoff and Multiple Legs Drawing Option Payoff Diagrams in Excel Calculating Option Strategy Maximum Profit and Loss Calculating Option Strategy Risk-Reward Ratio Calculating Option Strategy Break-Even Points Further Improvements About This Tutorial [more…]

Option Strategy Payoff Spreadsheet: Further Improvements

This is the final part of the Option Payoff Excel Tutorial. We have learned how to calculate profit or loss for a single option and for strategies with multiple legs, we have learned how to draw option payoff diagrams in Excel, and calculated maximum profit, maximum loss, risk-reward ratio and break-even points. Our spreadsheet has [more…]

Calculating Option Strategy Break-Even Points

This is part 8 of the Option Payoff Excel Tutorial. In the previous parts we have created a spreadsheet that calculates P/L of an option strategy, draws payoff diagrams and calculates maximum profit, maximum loss and risk-reward ratio. In this section we will calculate break-even points – the exact underlying price points where the position’s [more…]

Calculating Option Strategy Risk-Reward Ratio

This is part 7 of the Option Payoff Excel Tutorial. In the previous part we have learned about some very useful properties of the payoff function and calculated maximum possible profit and maximum possible loss for an option strategy with up to four legs. It was perhaps a bit longer and more complicated than you [more…]

Calculating Option Strategy Maximum Profit and Loss

This is part 6 of the Option Payoff Excel Tutorial. In the previous parts we have created a spreadsheet that calculates profit or loss for option strategies and shows the payoff diagram. Now we are going to calculate maximum possible loss (risk) and maximum possible profit. You can often get a good idea of these [more…]

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