Question 1

What does the Chance column mean for a bought option?

Accepted Answer

It is the historical chance the option reaches your target return on the cash you paid, at any point before expiration. The tool replays the ticker's own historical paths under the current regime, reprices the option along each one, and counts how often it would have hit that return. Because it uses the real return distribution, not a textbook bell curve, the odds can be asymmetric.

Question 2

How is breakeven calculated?

Accepted Answer

Breakeven is what you pay (the ask) added to or subtracted from the strike. A long call breaks even at strike plus cost; a long put breaks even at strike minus cost. For a debit spread it is the long-leg strike plus or minus the net debit. The stock has to clear breakeven for the trade to make money at expiration.

Question 3

What do Theta and Gamma tell me as a buyer?

Accepted Answer

Theta is the time decay you pay every day you hold the option, shown as a daily dollar amount per contract. Gamma is the convexity you bought: how fast your delta grows as the stock moves your way. The Sensitivity column turns these into a dollar profit or loss for the stock move you choose.

Question 4

How far out can I see expirations?

Accepted Answer

Up to 45 days. The expiration list comes from the actual options calendar, so holiday-shifted Thursdays (Good Friday, Christmas-on-Friday, etc.) snap to the correct date.

Question 5

Why are the filters auto-selected when I switch tickers?

Accepted Answer

The move-past odds are most useful when the historical sample matches today's market regime. The tool auto-detects today's VIX bucket, the ticker's position vs its 5-day MA, and RSI(14) bucket, and pre-selects those filters. You can override any of them, or click Reset to Current Filters to snap back.

Options Buyer Cheat ToolWhen buying options: See the dollar profit or loss on each option for any stock price move and the probability of hitting your target return.

Options Buyer Cheat Tool
When buying options: See the dollar profit or loss on each option for any stock price move and the probability of hitting your target return.