Volatility strategies

Structures shaped around the size of a move

Structures for high or expected market swings

Long call and put at same strike benefit from large move.

Out-of-money call and put seek large move.

One long call and two long puts emphasize downside.

Two long calls and one long put emphasize upside.

Bear put and bull call spreads seek movement beyond wings.

Long spreads centered on strike seek movement from body.

In-the-money call and put create two-sided volatility.

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.