The Options Guide - Strategies

Understand options trading, explore strategies, and calculate potential profit and loss with The Options Guide. Bring clear trading education and practical tools together with 87 strategy calculators, interactive payoff charts, and an offline library of 774 educational articles. EXPLORE 87 OPTIONS STRATEGY CALCULATORS Move from a strategy guide straight to its matching calculator. Start with the article's example, then adjust premiums, strike prices, position size, and fees to explore your own scenario. Review potential profit, loss, and breakeven levels for supported expiration payoffs, with modeled scenarios for multi-expiration strategies. Study long calls and puts, covered calls, protective puts, bull call spreads, bear put spreads, credit spreads, iron condors, straddles, strangles, butterflies, calendars, and more. Filter the strategy library by outlook, risk, profit potential, credit or debit, and number of legs. SEE PROFIT AND LOSS ON INTERACTIVE CHARTS Use an options profit calculator to make the numbers easier to understand. Tap a payoff chart to select an underlying price and see the corresponding profit or loss. Explore how changing your inputs changes the shape of a position, and save calculator examples to revisit later. BUILD YOUR OPTIONS KNOWLEDGE Learn options trading concepts at your own pace, from calls and puts to premiums, strike prices, expiration, moneyness, exercise, and assignment. Read clear explanations of options strategies, the Greeks, and volatility. Search the educational library, bookmark useful guides, and keep track of your reading progress. EXPLORE DIFFERENT OPTIONS MARKETS Browse dedicated guides to stock options, index and ETF options, currency options, commodity options, interest rate options, and cryptocurrency options. Follow related lessons to understand the underlying markets and contract structures. MORE TOOLS FOR YOUR SCENARIOS Explore Black-Scholes option pricing and Greeks, plus position sizing. Enter numbers with a built-in calculator keypad that supports arithmetic and memory, so you can work through inputs without switching apps. LEARN WHEREVER YOU ARE The bundled articles and in-app calculators work offline. Switch between light and dark mode in Settings, with light mode selected by default. Bookmarks, reading progress, and saved examples stay on your device. No account is required to use the guide. Online price charts and additional website tools open in your browser and require internet access. FOR EDUCATION AND SCENARIO ANALYSIS The Options Guide is an educational reference and calculator, not a brokerage or a trade execution service. Calculations are illustrative estimates based on the selected model and inputs; model assumptions and exclusions are shown in the app. Options involve risk, including the potential for substantial losses. Content and calculations are not investment advice or a guarantee of future results.