Black-Scholes, Greeks, iron condors, spreads, and probability calculators.
Price European call and put options using the Black-Scholes model with full d1 and d2 output.
Calculate profit, loss, break-even, and max risk for single-leg option trades with a P&L chart.
Analyze covered call strategy returns including max profit, max loss, break-even, and return if called or flat.
Check put-call parity (C + PV(K) = P + S), find theoretical prices, and detect arbitrage opportunities.
Back out implied volatility from an option market price using Newton-Raphson iteration on the Black-Scholes model.
Analyze iron condor strategies including max profit, max loss, break-even prices, and risk-reward ratio with a P&L chart.
Calculate all option Greeks -- delta, gamma, theta, vega, and rho -- for calls and puts.
Analyze long straddle and strangle strategies including total cost, break-even levels, and max loss with a P&L diagram.
Analyze bull call, bear put, bull put, and bear call vertical spreads with max profit, max loss, break-even, and risk-reward.
Estimate the probability of an option finishing in or out of the money using log-normal distribution, plus expected move ranges.