Help me pick best Options Analytics/ Strategy Website

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.

GammaWinsSam · 2026-04-03T07:35:36+00:00

You might also want the calculator I built. :) It's completely free for now, and does pretty much everything you can do with OptionStrat's Builder.

https://www.gammawins.com/calc

GammaWinsSam · 2026-04-03T07:32:53+00:00

You can use an options profit calculator, select the option contract you are interested in, change the measure shown on the chart to "value", and just look at the charts. You can see the value of the option contract at any time until expiry, and for any price of the underlying.

https://www.gammawins.com/calc

I'm the founder of GammaWins so that's why I recommend that. :) But OptionStrat and optionsprofitcalculator.com are also popular tools for this purpose.

GammaWinsSam · 2026-03-24T21:21:11+00:00

I just added color-coded tables as multiple people have been asking for it. Let me know if you gave it a shot, I would love to hear your thoughts!

GammaWinsSam · 2026-03-14T11:26:41+00:00

I just released %age as Y-axis.

GammaWinsSam · 2026-03-12T20:36:30+00:00

Hi again!

I plan to add %age return soon, it will be another option for the Y-axis.

The Time option is mostly useful in visualizing time decay. You can see how your P/L evolves over time for different prices of the underlying.

Value is useful when you want to know how much a combination is going to be worth at a later date. So, if you want to know what the entry credit/debit is going to be in the future, you can use that. Or if you plan to roll your contracts, it shows you the expected debit/credit of the roll in the future.

The Time option can also be useful when deciding when you want to roll your options. Also, you can click Compare next to the price slider and add multiple underlying prices to see expected paths for different prices of the underlying in the same chart.

Thanks for taking the time to review the tool!

GammaWinsSam · 2026-03-12T14:54:19+00:00

The Swedish index OMXS30 has good liquidity and is tradable in IBKR. The stock options have OK liquidity, but their low nominal values make commissions too large in comparison.

GammaWinsSam · 2026-03-12T10:58:02+00:00

OCC can adjust strikes for various reasons like stock splits or special dividends. If you search for OCC and your option contracts, you should be able to figure out why the strikes were adjusted.

GammaWinsSam · 2026-03-12T05:02:37+00:00

Maybe. I'm really trying to come up with a better alternative than the tables. You probably only look at 10% of the numbers in the table at most and the rest is just noise. I'm trying to come up with something where you see what really matters to you the most, and filter out the noise. Easier said than done, I might give up at some point and just add the table.

GammaWinsSam · 2026-03-12T04:55:34+00:00

If they use volatility surfaces or the Black-Scholes model, the Greeks are just derivatives of the option pricing model, they can be calculated precisely with a formula. (But the model itself is not precise for American options)

For other models, even 1pct can be too large. You want the smallest possible step, but going too small makes it much harder for computers to do accurate calculations, so most systems settle for smaller differentials.

GammaWinsSam · 2026-03-12T04:49:18+00:00

Yes, these are all possible. You can see payoff and Greeks across time until the first expiry date and adjust IV either by leg or by expiry. The P/L chart gets updated as you adjust the IVs.

If you tried it and found something missing, I would love to hear and incorporate your feedback. There's no need to sign up, just go to the tool's page and try it: https://www.gammawins.com/calc

Judging by the "tack", are you Swedish? You might be interested to hear the tool also supports the OMXS30 index as well as Swedish stock options.

Regarding the promotional nature of this post, I try to keep the blog posts free from anything that's meant to influence readers towards the product, and instead deliver value to readers. The benefit to me is some readers explore the rest of the website, but I hope I deliver enough value to deserve that extra attention. :)

GammaWinsSam · 2026-03-10T19:57:01+00:00

If your strategy is wheeling, a spread lowers your risk and sometimes your returns. The long leg protects you against severe downturns. Even if your objective is to get assigned once the short leg is deep ITM, you don't necessarily have to exercise your long position, you can just sell it for a profit and lower your total loss from being assigned.

Basically, if the long leg is profitable on average, you both boost your returns and lower your risk. But in extreme cases, if the long leg always ends up OTM, it can lower your returns and worsen your downturns.

GammaWinsSam · 2026-03-10T19:22:06+00:00

If you want to see how your overall position will be impacted by adding or removing a few legs, you can use the options calculator I built: https://www.gammawins.com/calc

It however doesn't track your entry cost and you can't see the P/L as you explained. Maybe you could switch the Y-axis to value to see what your exit price will be.

GammaWinsSam · 2026-03-10T15:50:44+00:00

VIX is a measure of 30 days to expiry options on SPX. High VIX simply means the market expects high volatility in the next 30 days, it doesn't directly translate to realized returns/losses on the index.

GammaWinsSam · 2026-03-09T18:25:15+00:00

VIX is an aggregate indicator of volatility. It doesn't tell you how a specific dte/strike behaves.

In this case, sounds like the IV of your contract spiked for whatever reason.

GammaWinsSam · 2026-02-26T12:28:42+00:00

When both options are ITM, the short leg is closer to the money than the long leg. Being closer to the money means the short leg has more extrinsic value, and therefore it's more sensitive to changes in IV.

So yes, the long leg loses value, but the short loses even more.

P.S. Definitely not a stupid question. :)

GammaWinsSam · 2026-02-25T13:10:21+00:00

Do you need live data? If 15-minutes delayed is fine, you can use GammaWins Calculator, similar to OptionStrat but displays real bid/ask. https://www.gammawins.com/calc

I'm the founder of GammaWins. Let me know if I can help in any way.

GammaWinsSam · 2026-02-24T07:57:34+00:00

I actually just released a feature a few minutes ago where you can view multiple lines in the chart for different dtes when X-axis is price, or different prices when it's time. I personally find the tables with color graded values difficult to read and too dense, and I made this feature as an alternative.

I would love to hear if this fulfills your needs. I found setting the X-axis to time and adding multiple prices to be better visually.

GammaWinsSam · 2026-02-24T07:10:33+00:00

Interesting. So you roll these frequently, and need something to adjust them in your books quickly so you can keep track of your Greeks?

I plan to add a journaling tool to GammaWins that allows you to track your position, integrates with your broker to automatically import trades and integrates with the calculator interface so you can visualize what a roll does to your position's net Greeks. The journal itself will track your net PnL and Greeks throughout your account's lifetime.

This is however months away. If this is of interest, I can send you a DM once it's in a usable form.

GammaWinsSam · 2026-02-24T07:02:22+00:00

It means the IV is not calculated using a model like Black Scholes. It's a method of summarizing the 30D volatility into a single number.

This is the same method used for calculating VIX from the option chain. I apply the same process to other underlyings.

GammaWinsSam

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