Introduction

What is projectoption?

projectoption is a web application designed for options traders who want to visualize and manage portfolio risk in real time. Whether you’re managing a simple covered call or a complex multi-leg strategy, projectoption gives you the tools to understand your risk exposure at a glance.

The application combines live market data with extensive calculations to model how your positions might perform across different price scenarios, time horizons, and volatility conditions.

Key Features

Real-time P/L Visualization

The heart of projectoption is its Position Modeling P/L chart. As you build your portfolio, the chart instantly updates to show:

• T+0 Line (cyan) - Your current theoretical P/L at today’s prices
• T+50% Line (orange) - How your position will look halfway to expiration
• Expiration Line (white) - Your P/L at expiration with only intrinsic value

The current stock price appears as a vertical reference line that updates every few seconds during market hours, so you always know where you stand.

Options Chain

Browse any stock’s options chains. Click any option to instantly add it to your portfolio. Left-click the price to simulate a buy, and right-click to simulate a sell.

Greeks Dashboard

Monitor your portfolio’s risk metrics in real time:

• Delta - How much your portfolio P/L is expected to change per $1 movement in the stock price.
• Gamma - How your portfolio-level delta is expected to change per $1 movement in the stock price.
• Theta - Time decay exposure - how much your portfolio is projected to gain or lose with the passing of a day.
• Vega - Portfolio-level sensitivity to implied volatility changes.

Advanced Modeling Tools

Go beyond static analysis with powerful “what-if” scenarios:

• T+ Lines - Add up to 3 custom target date lines to project your position’s performance at various points in time.
• IV Modeling - Shift implied volatility to see how vol changes affect your positions.
• Adjustment Modeling - Compare your current position against proposed trades, allowing you to see how adding certain trades can change your position’s risk exposure (before and after analysis). Combine IV + Adjustment modeling for even more specific scenario projections.

How It Works

1. Search for any optionable stock using the search bar
2. Browse the options chain and select your expiration date
3. Build your portfolio by clicking options to buy or sell
4. Analyze your risk using the P/L chart and Greeks dashboard
5. Model different scenarios using T+ lines, IV shifts, and adjustments
6. Save your positions and quickly switch between them to keep track of your positions in each ticker.

Next Steps

Ready to get started? Head to the Quick Start Guide to build your first portfolio in under 5 minutes.