Question 1

Is the options profit calculator free?

Accepted Answer

Yes. OptionProfit is completely free to use for scanning option chains and calculating strategy profit and loss.

Question 2

Where does the option price data come from?

Accepted Answer

Quotes come from a free third-party market data feed and are delayed roughly 15 minutes. Implied volatility and probabilities are most reliable during US market hours.

Question 3

Which option strategies are supported?

Accepted Answer

Long calls and puts, covered calls, cash-secured puts, vertical spreads, credit spreads, iron condors, butterflies, straddles, strangles, collars, calendar and diagonal spreads, plus any custom multi-leg combination.

Question 4

How is probability of profit calculated?

Accepted Answer

Using a lognormal model of the underlying price at expiration based on at-the-money implied volatility, integrated over the price regions where the position is profitable.