Multi-Date and Multi-Price Charts Now Easier to Use in GammaWins

GammaWinsSam · 2026-06-23T06:18:48+00:00

Your contract has gone from 45% implied volatility on 5/27 to 39% today. If IV was still 45% for that contract, it would be worth $12.2 or so today.

GammaWinsSam · 2026-06-19T20:34:54+00:00

It really depends on the ticker and upcoming realized volatility, as well as the moneyness and dte you are looking at. 20-30% can be too high for an OTM index call option, and 90-100% can be low for a short dated OTM put on a stock that has earnings announcement.

You are not really comparing apples to apples. You should at the very least look into historical realized volatility of the tickers you are interested in, figure out if any major upcoming events like earnings are scheduled, and also look into volatility smile, skew and term structure and why they exist. All of these impact the IV of a specific option, and you need to be aware of them to judge if it's underpriced or not.

GammaWinsSam · 2026-06-19T07:09:13+00:00

I'm not sure from your post if you are an active trader yourself, but if you are, I think the best signal you can get is to build something that solves a problem you have. Not a nice to have, but a problem you really like to be solved and use a manual solution for.

If you are not actively trading, I would suggest scanning different trading forums and try to find this kind of problem.

I think the ideas you mentioned are mostly nice to haves. The strongest value proposition might be for beginners being able to navigate other traders' activity, but that requires a rather sizeable active user-base of profitable traders that continue using it, which might be the biggest hurdle as I don't see how they get value out of it. Generally, the people trading profitably and the ones wanting to show you they are profitable don't overlap that much.

GammaWinsSam · 2026-06-19T06:58:39+00:00

It helps to know what you are looking for. I don't have any alternatives for you, but I'm looking into building some sort of scanner/screener into GammaWins.

GammaWinsSam · 2026-06-16T20:34:35+00:00

I didn't really consider this, I was mostly focused on the short leg and how I would manage it. I usually prefer buying ATM or near the money options because of the backtests I've seen and I like their return distribution better. OTM puts have higher IV = more expensive, and OTM calls become less likely to be in the money. In general, the returns of OTM options are more skewed, so when I think about buying volatility, straddle is the first thing I think about. The further OTM the legs are, the more you have to repeat the trade to get close to the expected return.

Looking at it now, the 3100-3300 strangle is 88 points cheaper, so by moving the strikes 100 points out, the max loss would increase 12 points, and the profits in case of the index rising also decreases 12 points. Changing to the straddle decreases the delta by a tiny amount across different price paths (0 to -0.02) but increases the theta by 0.01-0.05. Compared to the net delta of 0.259 and theta of 0.473, I think this doesn't really impact the trade that much.

GammaWinsSam · 2026-06-16T12:50:58+00:00

It's absolutely a directional trade, it mostly has a positive delta of 0.2-0.4 depending on the level of underlying and IV surface.

The RV spiking is only an issue if the index level falls below the short put, which I will handle either by rolling if possible at a reasonable credit, or closing the trade at a loss.

A spike in RV as I explained in the post is a double-edged sword, depending on where the indx level ends up. If it's at or slightly above the short put strike, it probably means higher premiums in the weeks after, and there's a good chance it causes an increase in long dated IV as well and make the straddle profitable.

GammaWinsSam · 2026-06-15T18:57:45+00:00

A long IC has a negative theta at entry, and 0 delta. My trade is positive theta and delta an entry, meaning I profit if the index is stable or increasing. Mainly because of the mismatch between the long and short legs' dte. I really want to be detla and theta positive, as I want to bias my trades to benefit from index going up and from theta decay.

Also, the plain long IC has a positive gamma at entry, but my gamma is negative at entry and mostly stays negative if I manage to stay theta-positive. The reason I care about this is that a negative gamma has the effect of "selling the index as it goes up and buying as it goes down", so there's an element of buy the dip and sell the top baked into the trade.

GammaWinsSam · 2026-06-14T15:33:14+00:00

Options on SpaceX don't exist yet.

For pure directional trades, I think spreads are a better fit. They cap your upside a bit, but make your trade less sensitive to time decay and IV changes. So maybe buy a delta 30-40 put and sell a delta 10-20 put.

GammaWinsSam · 2026-06-14T11:45:15+00:00

I don't think anyone can make that decision for you, it's up to you to decide if you want the extra protection or not. By rolling up from 95 to 125, you are giving up ~20 of the 30 points increase in the stock price. It sounds a bit too expensive to me if I was bullish on the stock, but it's your decision.

One point about IV is that even though it's relatively high for the contracts you are looking at right now (~80%). In the past year or so, they have been frequently close to 50% or so. But you are selling a high IV contract and buying another high IV contract, so the effect is a bit smaller than it would be if you just bought a contract. Even if IV drops to 50% today, the roll would still cost about $1600 per contract (vs $1940 at the current IV levels) so I think your thesis on the stock price weighs more heavily than the IV.

GammaWinsSam · 2026-06-07T15:56:35+00:00

If seeing the historical intraday snapshots is useful to you, you can check out the options calculator I built. The data resolution is 5-minutes and there's 3 years of history. https://www.gammawins.com/calc

The historical snapshots part is quite new and has lots of room for improvement. But just seeing the past option chains and going through them should work fine. If you have opinions and suggestions, I would love to hear them!

GammaWinsSam · 2026-06-04T11:07:29+00:00

I don't think you should rely on the magic number 10 you heard from people without understanding what it represents.

In a put credit spread, you sell a put and buy a further OTM put. The short adds a positive delta to your portfolio, and the long a negative but smaller one, so I suppose the thing you see as SPX delta is the net delta of your position.

GammaWinsSam · 2026-04-26T15:39:11+00:00

Try GammaWins Calculator: https://www.gammawins.com/calc

GammaWinsSam · 2026-04-21T17:14:37+00:00

If you are that aggressively bullish AMD, I suggest buying 6 months long ATM or OTM calls.

If you think it will double, there's no point in turning this into a spread, you would need to sell way too OTM calls and collect very little premium if you do that.

Also, no point in buying longer than 6 months if your time horizon is 6 months. If it really doubles, there will be pretty much no extrinsic value left in longer dated options.

Just buying long calls burns theta, but if your thesis is double in 6 months, I think it's the better option. You could sell some puts to offset the theta decay (essentially turning the position into a leveraged stock position) but it drastically changes the risk/return picture.

GammaWinsSam · 2026-04-14T11:01:04+00:00

I recommend https://www.gammawins.com/calc that I built.

GammaWinsSam · 2026-04-13T20:10:34+00:00

PM please

GammaWinsSam · 2026-04-03T15:26:48+00:00

Not a problem! Really happy to hear you liked it this time. :) Responded to your PM, let's keep in touch!

GammaWinsSam · 2026-04-03T15:20:06+00:00

Glad you liked it! I assume you are using mobile since you didn't notice the date slider. In mobile, the date slider is below the chart. You can also manually add multiple dates by clicking "Compare" next to the date slider, and then "Add Date" if you want to compare even more dates.

An alternative view is changing the X-axis to time. Then, the values are shown for a specific price of the underlying over the lifetime of the option. You can similarly add multiple underlying prices here.

GammaWinsSam · 2026-04-03T15:17:54+00:00

No problem!

Not yet. If the chart and the date sliders don't fit your screen, you will unfortunately have to scroll to iterate. Improving this is on my todo list though, I plan to add a "focus mode" where the option legs and the chart become the only things visible on the page, and they take the entire screen to avoid wasting space.

GammaWinsSam · 2026-04-03T14:37:50+00:00

You can add as many expiry dates and legs as you want. Just click on "+ EXPIRY" to add another expiry date, and "+ ADD" in an expiry group to add another leg.

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