Frequently Asked Questions
Where is the data from?
OptionStrat is a licensed OPRA vendor and uses a live equity and options feed. However, due to per-user licensing costs, data is currently delayed by 15 minutes.
What are the limitations of the calculations?
The calculator provides estimates, which are unable to account for all market conditions and events. Some of the limitations are:
- Implied volatility is never constant through the life of an option, so we recommend that you move the IV slider to see how changes in implied volatility will affect your trade (especially if you are trading around earnings).
- The entry cost/credit of a trade defaults to the mid of the bid/ask and does not account for any brokerage fees. You can select "bid/ask" to use the ask price for long options, and the bid price for short options, which may better reflect the price you will get filled at.
- While some market events like earnings, ex-dividend dates, and splits are shown for informational purposes, they are not accounted for in the calculation.
What time of day are the calculations?
The table calculations show the estimated price at market open, except for the current date and expiration date. On the current day, the estimate is for the current time. On the expiration day, the estimate is for market close. If it's possible to fit an extra column, the market open of the expiration day is also shown.
Can I input a previous trade?
Yes, simply click the price of the stock or option to change it. Type in what you paid for it and press Enter (or return on mobile) to save the custom price. To access the option editing menu, right click an option (on desktop) or tap it (on mobile). Read more here.
Why can't I select "% of Entry Cost" or "% of Max Risk"?
It is not possible to calculate these values for some strategies. % of Entry Cost can only be calculated for net debit strategies. % of Max Risk can only be calculated for strategies that have a defined risk.