Estimated Profit / Loss Heatmap
Time remaining (Days)
Configure your option
Valuation model: Black-Scholes estimates a European option's theoretical value. Manual Greeks estimates changes from the premium entered using Delta, Gamma, Theta, Vega, and Rho.
Heatmap: Each cell estimates profit or loss at a future time remaining and underlying price. It does not show the probability of that outcome.
Spot price: The current market price of the underlying asset.
Strike price: The contractual price at which the holder may buy the underlying for a call or sell it for a put.
Risk-free rate: The continuously compounded annual rate used by Black-Scholes, ideally matched to the option's remaining maturity.
Implied volatility: The annualized volatility assumption used by Black-Scholes.
Time to expiry: Time remaining until expiration, entered in days, hours, and minutes.
Premium: For a long position, enter the premium paid. For a short position, enter the premium received. Total P/L includes quantity and contract multiplier but excludes commissions and margin requirements.
Manual Greeks: Enter the option's current market price separately from your entry premium. Greeks estimate how that current value changes across scenarios.
Target underlying price: An optional reference used only to center the heatmap's price scale.
Greek units: Theta is option-value change per calendar day; Vega and Rho are option-value changes per one percentage-point change.