Neutral strategies

Structures centered on a range or target price

Structures for stable or consolidating markets

Short call and put at same strike benefit from flatness.

Short OTM call and put create wider profit region.

Defined-risk put and call spreads create profit range.

Short straddle with protective wings defining risk/reward.

Three-strike call structure concentrates payoff at middle.

Three-strike put structure concentrates payoff at middle.

Same-strike call calendar approximated at expiration.

Same-strike put calendar approximated at expiration.

Long shares with put floor and call ceiling.

Short ITM call and put seek limited movement.

What the calculator includes

At-expiration modelling. Every line uses intrinsic value, entered premium, quantity and a 100-share option multiplier.

Editable legs. Change side, instrument, quantity, strike or premium; add and remove legs without an account.

Model boundary. Results exclude Greeks, implied volatility, time decay before expiration, fees, tax, liquidity, assignment and exercise behavior.