GammaWins

GammaWins Calculator

More than a simple options profit calculator!

Powerful and customizable charts

Visualize P/L, portfolio value or % return, together with any combination of the Greeks. Plot your strategy over underlying prices or see how it evolves over time until expiry.

Build any options strategy

Start with a common strategy or build your own with as many option legs as you need. Adjust strikes, expiries and quantities in seconds.

Understand volatility before you trade

See implied and realized volatility, adjust IV for your entire strategy, individual expiries or specific contracts, and use the built-in skew chart to find relatively cheap and expensive strikes.

Test your strategy against the past

Build and analyze strategies using historical market snapshots, even when the market is closed. Recreate market conditions from previous trading days, historical events, or intraday snapshots instead of relying on stale market prices.

Compare outcomes at a glance

Plot multiple dates or underlying prices on the same chart to compare scenarios instantly, without moving sliders or switching views.

Make the calculator your own

Customize default prices, charts, key metrics and many other settings so you can spend more time analyzing trades and less time fighting the tool.

Our philosophy

Empower, don't decide

GammaWins is built around the idea that software should help traders make better decisions, not make decisions for them. Rather than recommending "magic" strategies or hiding complexity behind black boxes, GammaWins aims to provide the tools needed to explore scenarios, understand trade-offs, and make informed decisions with confidence.

Simple to learn, powerful to master

Advanced trading software shouldn't require a PhD to use. GammaWins aims to be approachable for newer traders while continuously growing to meet the needs of experienced traders and quants. The platform should become more powerful as your knowledge grows.

One place for your entire trading workflow

The long-term vision for GammaWins is to become the place where every stage of the trading process comes together. From generating ideas and analyzing strategies to backtesting, journaling, executing trades, tracking positions, and reviewing long-term performance, everything should work seamlessly in one platform.

Build responsibly

Trading is difficult, and many people lose money. GammaWins will never encourage excessive trading or make unrealistic promises about returns. The goal is to build honest, transparent tools that help traders better understand risk and reward. If you choose to trade, GammaWins aims to provide the best possible tools to help you succeed.

Frequently asked questions

Which markets and exchanges does GammaWins support?

GammaWins currently supports US equity and index options, as well as Swedish, Danish and Norwegian equity and index options traded on Nasdaq Nordics. If you're interested in another market, let us know. We're always looking to expand our coverage based on user feedback.

How accurate are the calculations and option prices?

GammaWins uses industry-standard option pricing models and the same quantitative finance libraries trusted by banks, hedge funds and trading firms. Combined with exchange-reported option prices, this provides a solid foundation for accurate analysis. Like any pricing model, there are limitations, and factors such as dividends can affect accuracy. Improving the transparency of our assumptions and models is an ongoing focus.

Can I use GammaWins when the market is closed?

Yes. When the market is closed, GammaWins uses the closing prices from the most recent trading session. You can also use Historical Snapshots to recreate intraday market conditions from previous trading days, making it easy to analyze and prepare 0DTE strategies at any time.

Do I need to create an account to use GammaWins?

No. The calculator is fully usable without an account. Your scenarios and settings are stored locally in your browser. If you create an account, you can access your saved scenarios across devices and won't lose them if you clear your browser data or switch computers.

Can I save, organize and share my strategies?

Absolutely! Save your strategies to revisit them later without rebuilding the option legs. When you open a saved strategy, GammaWins automatically refreshes the option prices so you can analyze it using the latest market data.

You can also share strategies using short links. These preserve the market prices and chart configuration, allowing others to see exactly the same analysis you were looking at.

Which pricing models does GammaWins use?

GammaWins uses Black-Scholes for European options (primarily index options) and stock call options, and Bjerksund-Stensland for American put options.

Many options calculators rely exclusively on Black-Scholes, which is less accurate for pricing American-style puts.

Can I request new features or report issues?

Absolutely! Community feedback plays a big role in shaping GammaWins, and many improvements are driven by user suggestions. If you have an idea for a new feature or find something that could work better, we'd love to hear from you.

How often is GammaWins updated?

GammaWins is actively developed, with new features and improvements released every few weeks. Join our Discord or follow us on Reddit to stay up to date with the latest releases.

Does GammaWins use live market data?

Not yet. GammaWins currently uses delayed market data. Live market data requires exchange licenses, and introducing live feeds is one of our highest priorities as the platform continues to grow.

Powerful Tools for Options Traders