Option Basics

Pricing Calculator

Probability Calculator

Credit Spread Calculator

Debit Spread Calculator

Condor Calculator

Straddle & Strangle Calc.

Price Range Calculator

Market Data


Free Stuff





An effective way to supercharge your investments.

Options-R-EZ - Free options trading analysis tools for better investments.

Look up symbol
Buy stocks for $4

                                Iron Condor Credit Calculator    
  Stock Price      
  Stock Volatility *      
    Buy Call Option Sell Call Option Sell Put Option Buy Put Option  
  No. of Options Contracts  
  Expiration Date (ex. 12/4/04)  
  Strike Price  
  Option Price  
    Net Credit Max. Loss Upper Breakeven Lower Breakeven  
      Max. Loss     
    Prob. of Profit Expected Return for Positive Return    
  * Volatility      
   - Express volatility as a number vs percent (example 53.5 = 53.5%)    
   - The Stock Volatility Link will provide you with historical volatility choices for different  
     time periods.  MSFT is the default.  Change the stock symbol in the upper left hand  
     corner to your appropriate stock symbol and scroll down and select the volatility that   
     coincides with your preferred time period.      

Using the Credit Condor Calculator



Stock Price The current price of the underlying asset that is being analyzed.

Stock Volatility Measures the underlying assets absolute price movement.

No. of Options Contracts The number of contracts for each Buy and Sell position of your condor.  Remember, each contract represents 100 shares of the underlying asset.

Expiration Date – Options are wasting assets that have defined dates of expiration.  The expiration date is usually the third Friday or Saturday of every month.  The Expiration Date link will provide you with an expiration calendar.

Strike Price – The share price that the underlying security can be purchased (Call Option) or sold (Put Option) by the option holder upon exercise of the option contract.

Options Price The option premium price for each position.  For Buy positions, you general buy at the ask. For Sell positions, you generally sell at the bid.




Net Credit The amount of money that is credited (deposited) into your account.  This is your maximum profit.

Max. Loss The maximum amount of money you could lose if the stock price moves against your position.

Breakeven – The market price that a stock must reach for the options buyer or seller to avoid a loss if they are excercised or assigned.


Prob. Of Profit Determines the probability of success for the condor position based on a normal distribution.  The probability that the underlying asset will trade between the two sell option positions.

Expected Return – The return that an investor might expect to make on an investment if he/she were to make exactly the same investment many times throughout history.  Ideally, you would like this value to be a positive percentage.  For high probability credit condors, it may be difficult to achieve a positive expected return however, if you understand your maximum loss required for a positive return, you can exit your position accordingly if the price moves outside of your target. 

Max. Loss for Positive Return – The theoretical loss your position can withstand to achieve a positive Expected Return. 

 Click below for free e-book "Coulda Woulda Shoulda" by Charles Cottle"

Options Profits From Anywhere

Options involve risks and are not suitable for all investors.  Option trading can be speculative in nature and carry substantial risk of loss. Only invest with risk capital.