Options playground
Options strategy builder
Build any multi-leg options strategy and instantly see the payoff diagram, max profit and loss, breakevens and Greeks. Pick a preset or build your own — free, no login, all in your browser.
AI Strategy Copilot
ProTell it your market view in plain English — it suggests option strategies and loads them into the builder.
The AI Copilot is an educational tool. It suggests and explains options strategy structures and never places orders. It is not investment advice and not from a SEBI-registered Research Analyst or Investment Adviser. All numbers are computed by a math model from your inputs — verify on your broker before trading.
Start from a strategy
Payoff at expiry
Net Greeks
Per-leg Greeks
| Leg | Delta | Gamma | Theta | Vega |
|---|---|---|---|---|
| Buy 24000 CE | 37.4 | 0.0308 | ₹-506 | ₹1,754 |
| Sell 24100 CE | -34.2 | -0.0313 | ₹499 | ₹-1,781 |
Legs
2 legs| Type | Action | Strike | Premium | Lots | Lot size | IV % | |
|---|---|---|---|---|---|---|---|
How to use the strategy builder
Start from a preset — Long Call, Bull Call Spread, Iron Condor, Straddle and more — or add your own legs. Set the spot price (or search a stock to prefill it), the days to expiry, lot size and strike step. Each leg is priced at its Black–Scholes theoretical value so the payoff is meaningful immediately; replace any premium with the live market price for an exact picture. The chart shades profit green and loss red, marks every breakeven and your current spot, and can overlay today's (T+0) curve alongside the expiry payoff.
Frequently asked questions
Is the options strategy builder free?
Yes — completely free, no login or paywall. It runs entirely in your browser on the math models below; nothing you enter is sent to a server.
Where do the option premiums come from?
By default each leg is priced at its Black–Scholes theoretical value from the spot price, implied volatility and days to expiry you set. Replace any premium with the real market price for an exact payoff — the diagram and Greeks update instantly.
How are the Greeks calculated?
Delta, Gamma, Theta, Vega and Rho are computed with the Black–Scholes model (European exercise, dividend yield ~0). NSE index options are European; stock options are American and are approximated as European here. Treat the numbers as a close estimate, not a broker-exact figure.
What is the dashed 'T+0' line on the payoff chart?
The solid line is your profit/loss at expiry. The dashed line is the estimated profit/loss today (mid-life), valuing each leg with Black–Scholes at the current days-to-expiry — useful for seeing how the position behaves before expiry.
Can I use it for Nifty, Bank Nifty or stock options?
Yes. Set the spot, lot size and strike step for your underlying (or search a stock to prefill its spot), then build legs or pick a preset strategy. Lot sizes default to index values and are fully editable.
Informational and educational only — not investment advice, not a recommendation to trade, and not from a SEBI-registered adviser. Options are leveraged and can lose more than the premium paid. Margin shown is indicative, not a SPAN figure. Verify every number with your broker before trading.