Powerful Options Profit Calculator
Analyze everything from simple option positions to complex multi-leg strategies using interactive charts, historical market data, volatility analysis and powerful scenario modeling.
Analyze your strategy
Understanding an options strategy requires more than a simple payoff diagram. GammaWins provides a range of visualization tools that help you analyze your trade from different perspectives, making it easier to understand risk, compare outcomes and make informed decisions.
Visualize exactly what matters
Every trader looks at a strategy differently. GammaWins lets you visualize P/L, portfolio value, % return and any combination of the Greeks on a single chart, so you can focus on the metrics that matter to your trading. Zoom into specific regions with drag-to-zoom or adjust the visible range directly with the built-in range slider.
Compare multiple market conditions
Understand how your strategy behaves across multiple market conditions without constantly adjusting sliders. Plot multiple dates on Price charts or multiple underlying prices on Time charts, with distinct line styles that make every scenario easy to distinguish.
See how your trade evolves over time
Most options calculators focus on one moment in time. GammaWins lets you use time as the X-axis, showing how your strategy changes all the way to expiry at one or more underlying prices. It's ideal for understanding theta decay, evaluating rolls, and seeing how your Greeks evolve as expiration approaches.
Your strategy in two dimensions
Sometimes a chart isn't enough. Table View provides a dense, color-coded overview of your strategy across customizable price and time ranges. Analyze P/L, portfolio value, % return or any Greek in one place and quickly identify patterns that would otherwise require dozens of charts.
Target the metrics that matter
Whether you're targeting a specific CAGR for a Wheel strategy, a desired Delta or Theta exposure, or simply comparing different setups, GammaWins provides a comprehensive collection of metrics including probability of profit, breakevens, maximum profit and loss, Greeks, premium yield, CAGR and much more, updating instantly as you adjust your strategy.
Build Your Strategy
Whether you're trading a simple covered call or a complex multi-expiry position, GammaWins is designed to help you build, refine and manage your strategies quickly. Powerful construction tools and a flexible workflow let you spend less time entering trades and more time analyzing them.
Build simple and complex strategies effortlessly
Whether you're creating a covered call or a complex multi-expiry position, GammaWins is designed for rapid iteration. Adjust strikes, expiries and quantities in seconds, view bid, ask and mid prices, select contracts from a Greek-enabled option chain, and instantly see how every leg contributes to your overall strategy.
Build once, revisit anytime
Don't rebuild the same trade every time. Save strategies to revisit existing positions, prepare future trades, or compare ideas over several days. Saved scenarios automatically refresh to current market prices while preserving your strategy.
Make the calculator your own
Trading software should adapt to your workflow, not the other way around. Customize default option prices, strike selection behavior, chart and table preferences, default underlying, skew chart behavior and many other settings so GammaWins works the way you do.
Understand Volatility
Volatility is one of the biggest drivers of option prices. GammaWins helps you understand the current volatility environment, identify relatively cheap and expensive contracts, and model how changes in implied volatility affect your strategy.
Find cheap and expensive strikes instantly
Volatility is never the same across every strike. GammaWins displays the complete implied volatility skew while you build your strategy, shows exactly where each option leg sits on the curve, and even lets you adjust strikes directly from the chart. It's an intuitive way to identify relatively cheap and expensive contracts.
Model realistic volatility scenarios
See the implied volatility of every option in your strategy and adjust it for individual contracts, entire expiries or your complete position. Every change is reflected immediately, making it easy to understand how sensitive your trade is to volatility.
Understand the current volatility environment
Know whether volatility is relatively high or low before entering a trade. Monitor realized volatility, at-the-money implied volatility, and model-free implied volatility (calculated using the same methodology as the VIX), together with their historical ranks and percentiles, to quickly determine whether volatility is historically high or low.
Analyze Historical Markets
Markets don't always behave like they do today. GammaWins lets you load historical market snapshots from previous trading days and major market events, making it possible to study and prepare strategies using real historical option prices.
Analyze Historical Market Conditions
Don't limit yourself to today's market. Load more than three years of historical intraday market snapshots to build and analyze strategies using previous trading days, earnings announcements, volatility spikes and major market events.
Build 0DTE strategies any day of the week
You don't have to wait for the market to open to prepare your next 0DTE trade. Historical intraday snapshots combined with minute-level time controls let you build, refine and analyze strategies using real option prices from any point during previous trading sessions, making weekend preparation just as useful as trading live.
GammaWins vs OptionStrat
See how GammaWins compares with OptionStrat across features, volatility analysis, historical market data and much more.
| Category | Feature | GammaWins | OptionStrat |
|---|---|---|---|
| Strategy Analysis | Chart metrics | ✅ P/L, Value, %, Greeks | 🟡 Same metrics, one at a time |
| Time as X-axis | ✅ | ❌ | |
| Multi-date & multi-price analysis | ✅ Flexible | 🟡 Limited | |
| Table analysis | ✅ Flexible | ✅ | |
| Summary metrics | ✅ More metrics | 🟡 Standard | |
| Strategy Builder | Custom strategies | ✅ | ✅ |
| Option chain | ✅ Greeks | ❌ | |
| Option prices | ✅ Bid/Ask/Mid | 🟡 Mid only | |
| Customization | Calculator settings | ✅ | 🟡 Limited |
| Volatility | Skew chart | ✅ Interactive | ❌ |
| IV adjustments | ✅ Leg & expiry | 🟡 Expiry only | |
| Volatility indicators | ✅ IV, RV & Model-free | 🟡 IV only | |
| Historical Analysis | Historical option prices | ✅ Market snapshots | ✅ Price history |
| Workflow | Saved strategies | ✅ | ✅ P/L tracking |
| Shareable links | ✅ | ✅ | |
| Market Coverage | US equity & index options | ✅ | ✅ |
| US futures options | ❌* | ✅ | |
| Nasdaq Nordics options | ✅ | ❌ | |
| Live market data | ❌* | ✅ | |
| Additional Features | Market news & earnings | ❌* | ✅ |
* Planned for GammaWins. These capabilities require additional exchange licenses and data sources, and will be introduced as the platform continues to grow.