Build multi-leg strategies. Live payoff, Greeks, P&L.
Preset payoff diagrams — vertical / condor / butterfly / straddle.
Top-left: Long Call / Long Put / Vertical Spread / Iron Condor / Butterfly / Straddle / Strangle / Custom. Pick the structure; the analyser auto-selects strikes around current ATM.
Big chart: P&L as a function of underlying price at expiration. Max profit / max loss / breakeven points clearly marked. Read the curve to see WHERE the structure makes money.
Right rail: each leg's strike + side + size + mid premium. Net debit / credit at the bottom. Adjust strikes by clicking the up/down arrows to see how the payoff curve shifts.
Vertical spreads = directional with capped risk. Iron condors = sell-vol around a range. Butterflies = pin a specific level. Straddles / strangles = buy-vol pre-event. The analyser lets you size each before committing premium.
A live options strategy canvas. Add legs one at a time — calls, puts, long, short — pick strikes and expiries, and the panel renders a payoff diagram, current Greeks, P&L at every spot scenario, break-even prices, and a probability-of-profit stat based on live IV.
add osa.OSA, PAYOFF.Eight built-in templates populate the leg table with one click:
Everything past the preset — custom legs, mixed expiries, ratio structures — is built leg-by-leg from the blank canvas.
The payoff curve plots P&L across a spot range. Three curves are overlaid by default: at expiry, in T/2 days, and now. Slide the vol and time knobs to stress-test — see how the shape changes if IV compresses 20% or expiry is two days away.
Per-leg Greeks sum into an aggregate delta, gamma, theta, vega, and rho for the full position. Useful for sanity-checking that a "neutral" iron condor is actually neutral right now, or that a long-dated covered call has the theta decay you think it does.
Log-normal probability of the strategy printing any profit by expiry, computed from live IV. A second stat — probability of hitting max profit — sits beside it. Both are computed bar-by- bar against the current IV surface, so they update as vol regimes shift.