Select a strategy to get started. Each calculator includes a live options chain, full Greeks, P&L heatmap, and probability of profit.
Buy a call. Profit if stock rises above breakeven. Max loss = premium paid.
Buy a put. Profit if stock falls below breakeven. Max loss = premium paid.
Own shares + sell an OTM call. Generate income, cap upside.
Sell a put backed by cash. Collect premium, risk buying shares at strike.
Sell a call without shares. Unlimited risk if stock rallies.
Sell a put without full cash collateral. Higher-risk income strategy.
Buy lower call, sell higher call. Cheaper long call with capped upside.
Buy higher put, sell lower put. Cheaper long put with capped profit.
Sell higher put, buy lower put for protection. Net credit bullish strategy.
Sell lower call, buy higher call for protection. Net credit bearish strategy.
Put spread + call spread. Profit from range-bound stock in low-volatility.
ATM short straddle + OTM wings. High credit, narrow profit zone.
Long wings + two short center calls. Max profit if stock pins at middle strike.
Buy ATM call + put. Profit from a large move in either direction.
Buy OTM call + OTM put. Cheaper than straddle, needs bigger move.
Sell near-term option, buy far-term at same strike. Harvest theta differential.
Long far-term + short near-term at different strike. Flexible calendar variant.
Deep ITM LEAPS + short near-term call. Covered call without owning shares.
Own shares + protective put + covered call. Lock in a price range.