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.

All Excel calculators

Free Tutorials

Options: The Basics

Basic Option Positions

Option Pricing and Greeks

Volatility

VIX (CBOE Volatility Index)

Statistics

Technical Analysis

Other

Recently Added or Updated

VIX All-Time Highs and Biggest Spikes

This is an overview of all-time highest VIX closes, intraday values, and biggest spikes. Here is a similar page for VIX all-time lows. All-Time Highest VIX Closes All-time highest VIX close was 80.86 on 20 November 2008. 10 highest VIX closes Thu 20 Nov 2008 = 80.86 Mon 27 Oct 2008 = 80.06 Fri 24 [more…]

VIX All-Time Lows and Sub-10 Days Overview

This is an overview of all-time lowest VIX values and sub-10 days. We will discuss: All-time lowest VIX close (20 lowest closes) Number of sub-10 VIX closes by year All-time lowest intraday VIX values Effect of holidays on VIX lows Days and periods when the VIX never got above 10 (sub-10 highs) How to buy [more…]

VIX ETF & ETN List

On this page you can find an overview of VIX ETFs (exchange traded funds) and ETNs (exchange traded notes), last updated on 7 February 2018. Click on the symbol links for more details and official resources. For convenience, the products are arranged in five lists: Most liquid – 7 VIX products with greatest trading volume [more…]

VIX Expiration Calendar (Futures & Options)

Below you can find VIX futures and options expiration calendar for 2018 and 2019, as well as full VIX expiration dates history (2004-2017). VIX Expiration Rules Expiration dates are the same for VIX futures and VIX options. It is always 30 days before S&P500 option expiration (see why) – usually 30 days before the third [more…]

Options 101: Beginner Tutorial

If you are new to options, this page can be used as a beginner tutorial, guiding you through the basic terms and concepts. These are not only essential for successful options trading, but also needed for understanding more advanced topics such as option pricing, volatility, Greeks, or option strategies. Summary / Reference Options Basics: Overview [more…]

Working with Time to Expiration in the Black-Scholes Calculator

This page explains how to enter the time to expiration input in the Black-Scholes Calculator either as number of days or as valuation and expiration date and time, and how to set up charts modeling the effects of passing time on option prices and Greeks. Entering the Time to Expiration Input For option prices and [more…]

Black-Scholes Time to Expiration Input

This page explains the time to expiration input in the Black-Scholes option pricing model. We will discuss which time units to use, how to work with fractions of days, how time enters the formulas, and how it affects the resulting option prices. Time to Expiration in the Black-Scholes Model Options have limited life and the [more…]

Long Call vs. Short Put Differences and When to Trade Which

This page explains differences between long call and short put option positions. Using an example, we will compare their cash flows and payoff profiles. We will conclude with recommendations when to trade which strategy. What Long Call and Short Put Have in Common Long call and short put are among the simplest option strategies, each [more…]

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