Advanced Strategy Builder
Advanced Strategy Builder
Build a manual, same-expiration position and compare its payoff, model value and combined Greeks.
Research multi-leg option trades
Use your model as a starting point, then explore multi-leg option trades on Market Chameleon. Your calculator inputs stay here.
Full screening features may require a paid subscription. Market data is delayed.
About this calculator
How to use this tool
Each option leg has its own strike, entry premium, quantity and IV. Stock quantity is shares; option quantity is contracts. All legs share one underlying and expiration. Eight legs are supported. Templates replace the current position only when you choose Apply template.
Entry cash flows use your premiums. Model value uses current underlying price, remaining days and IV; the difference is an estimated mark-to-model P/L, not a live quote. The expiration line uses intrinsic value and includes entered fees.
Greeks are signed position totals. Delta is underlying-unit exposure, Gamma is its change per one-unit move, Theta is cash per calendar day, and Vega/Rho are cash per one percentage-point change. Stock dividends, borrow costs, early exercise and funding cash flows are not simulated.
Stock/ETF, cash-index and vanilla FX quote-unit examples can be imported. For FX, use the domestic interest rate and foreign rate in the carry field. Futures, VIX and nonstandard options require a different model and are excluded from pre-expiration transfer.
Worked example
A $100 call purchased for $5 with a multiplier of 100 has $500 at risk. At expiration with the underlying at $110, its profit is $500 before fees. Adding a sold $110 call caps the upside.
Related tools
Model references and conventions
365 calendar days per year. Continuous rates for theoretical pricing. All examples are illustrative.
Explore different expirations: Calendar Spread Calculator · Diagonal Spread Calculator
