Profit/Loss Table
How to read this table
Each row is a possible stock price. Each column is a point in time
(today through expiration). The cell value is your profit or loss
at that price and time.
Reading the colors: Green = profit, Red = loss. The yellow row marks the current stock price. The blue cell marks your scenario (set by the sliders).
Try this with the sliders:
• Stock Price — moves the blue highlight up/down the table. Ask yourself: "What if the stock drops 10%?"
• IV — recalculates every cell. Higher IV increases time value, which helps buyers and hurts sellers before expiration.
• Days — moves the blue highlight across columns. Slide it toward 0 to see how your P/L converges to the expiration column.
You can also click any chart on other tabs to jump the stock price slider to that price.
Reading the colors: Green = profit, Red = loss. The yellow row marks the current stock price. The blue cell marks your scenario (set by the sliders).
Try this with the sliders:
• Stock Price — moves the blue highlight up/down the table. Ask yourself: "What if the stock drops 10%?"
• IV — recalculates every cell. Higher IV increases time value, which helps buyers and hurts sellers before expiration.
• Days — moves the blue highlight across columns. Slide it toward 0 to see how your P/L converges to the expiration column.
You can also click any chart on other tabs to jump the stock price slider to that price.
Build a strategy to see how your profit/loss changes across
different stock prices and timeframes
Two-Leg Breakdown
How to read this chart
This shows what each option in your strategy does individually,
and what they do together. The x-axis is the stock price at
expiration. The y-axis is profit or loss in dollars.
The lines:
• Green dotted = the option you bought (your long leg)
• Red dotted = the option you sold (your short leg)
• Blue solid = your total P/L (both legs combined)
• Yellow dashed = where the stock price is right now in your scenario
Try this with the sliders:
• Stock Price — moves the yellow line left/right. Where the blue line crosses $0 is your breakeven.
• Click on the chart to jump the stock price slider to any point and instantly see the P/L.
Look at where the blue line flattens — that's your max profit (top) and max loss (bottom). The spread caps both.
The lines:
• Green dotted = the option you bought (your long leg)
• Red dotted = the option you sold (your short leg)
• Blue solid = your total P/L (both legs combined)
• Yellow dashed = where the stock price is right now in your scenario
Try this with the sliders:
• Stock Price — moves the yellow line left/right. Where the blue line crosses $0 is your breakeven.
• Click on the chart to jump the stock price slider to any point and instantly see the P/L.
Look at where the blue line flattens — that's your max profit (top) and max loss (bottom). The spread caps both.
Build a strategy to see how each leg contributes to your
total
spread profit/loss at expiration
P&L Chart Over Time
How to read this chart
This answers: "How much is my position worth right now
vs. what it will be worth at expiration?" The gap between the
two curves is the time value still in your options.
The lines:
• Blue curve = your P/L today (at the days and IV you set with the sliders). Includes time value.
• Green curve = your P/L at expiration (time value gone, only intrinsic value remains).
• Gold star = where you are right now based on the scenario stock price and days sliders.
Try this with the sliders:
• Days — this is the most useful slider here. Slide it from max toward 0 and watch the blue curve flatten into the green curve. That's time decay eating away at time value.
• IV — higher IV puffs up the blue curve (more time value). Lower IV flattens it closer to the green curve.
• Stock Price — moves the gold star along the blue curve. Click the chart to jump to any price.
If the blue curve is above the green curve, your options still have time value. If they overlap, time value has fully decayed.
The lines:
• Blue curve = your P/L today (at the days and IV you set with the sliders). Includes time value.
• Green curve = your P/L at expiration (time value gone, only intrinsic value remains).
• Gold star = where you are right now based on the scenario stock price and days sliders.
Try this with the sliders:
• Days — this is the most useful slider here. Slide it from max toward 0 and watch the blue curve flatten into the green curve. That's time decay eating away at time value.
• IV — higher IV puffs up the blue curve (more time value). Lower IV flattens it closer to the green curve.
• Stock Price — moves the gold star along the blue curve. Click the chart to jump to any price.
If the blue curve is above the green curve, your options still have time value. If they overlap, time value has fully decayed.
Build a strategy to see how your spread's value changes as
time
passes
Probability Zones
How to read this chart
This overlays two things: where the stock is likely to
end up (the bell curve) and how much you'd make or lose there
(the P/L line). Together they answer: "What's my realistic
expected outcome?"
The lines:
• Blue line = your P/L at expiration for each stock price (same as the green line on the P/L Over Time tab).
• Orange bell curve = the probability distribution of where the stock price could end up by expiration. It's built from two inputs: the option's implied volatility (how much the market expects the stock to move) and days to expiration (how much time it has to move). The peak of the curve is the most likely price. The height at any point shows the relative likelihood of the stock landing there. A tall, narrow curve means the market expects the stock to stay close to its current price. A short, wide curve means large moves are considered more likely.
• Yellow dashed = your breakeven price.
Try this with the sliders:
• IV — this is the most useful slider here. Higher IV widens the bell curve (stock could land anywhere), lower IV narrows it (stock likely stays near current price). Watch how the PoP in the summary panel changes.
• Days to Expiration — fewer days narrows the curve (less time for the stock to move), more days widens it.
The bell curve is always centered on the actual stock price. Click the chart to jump the stock price slider to any point.
The area under the bell curve where the blue P/L line is above $0 represents your probability of profit. More overlap = higher chance of making money on this trade. This is how the PoP number in the summary is calculated.
The lines:
• Blue line = your P/L at expiration for each stock price (same as the green line on the P/L Over Time tab).
• Orange bell curve = the probability distribution of where the stock price could end up by expiration. It's built from two inputs: the option's implied volatility (how much the market expects the stock to move) and days to expiration (how much time it has to move). The peak of the curve is the most likely price. The height at any point shows the relative likelihood of the stock landing there. A tall, narrow curve means the market expects the stock to stay close to its current price. A short, wide curve means large moves are considered more likely.
• Yellow dashed = your breakeven price.
Try this with the sliders:
• IV — this is the most useful slider here. Higher IV widens the bell curve (stock could land anywhere), lower IV narrows it (stock likely stays near current price). Watch how the PoP in the summary panel changes.
• Days to Expiration — fewer days narrows the curve (less time for the stock to move), more days widens it.
The bell curve is always centered on the actual stock price. Click the chart to jump the stock price slider to any point.
The area under the bell curve where the blue P/L line is above $0 represents your probability of profit. More overlap = higher chance of making money on this trade. This is how the PoP number in the summary is calculated.
Build a strategy to see probability zones and where the
stock
is likely to land at expiration