Change assumptions and understand their effect: external calculators, scenario analysis and market overviews to complement the theory.
Links lead to the named providers’ official pages. Some OIC tools require signing in with the provider. Model values and scenarios are not forecasts or guaranteed outcomes.
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Cboe Options Institute
Illustrative diagram
Beginner–Intermediate
Cboe Options Institute
Calculates theoretical option prices and Greeks using customizable inputs such as strike, volatility, interest rate, and expiration.
Why we recommend it
Compare how individual model assumptions affect a price.
Cboe Options Institute
Illustrative diagram
Intermediate
Cboe Options Institute
Helps explore option strategies based on a target price and date and compares potential outcomes such as return on investment.
Why we recommend it
Compare assumptions with hypothetical outcomes.
Options Industry Council
Illustrative diagram
Beginner–Intermediate
Options Industry Council
Simulates theoretical option values and Greeks for stocks, ETFs, and indexes with adjustable strikes, expirations, and volatility.
Why we recommend it
Connect the pricing inputs from the basics with model values.
Options Industry Council
Illustrative diagram
Beginner–Intermediate
Options Industry Council
Visualizes hypothetical profit and loss across different underlying prices and helps users understand strategy payoff behavior.
Why we recommend it
Distinguish a market view from a strategy’s payoff shape.
Options Industry Council
Illustrative diagram
Intermediate
Options Industry Council
Explores statistical probability scenarios for option positions and helps connect price ranges with potential outcomes.
Why we recommend it
Treat probabilities as estimates that depend on model assumptions.
Options Industry Council
Illustrative diagram
Intermediate
Options Industry Council
Displays option quotes together with Delta, IV, bid-ask spreads, volume, and different expirations.
Why we recommend it
Compare the metrics encountered when reading an options chain.
Options Industry Council
Illustrative diagram
Intermediate
Options Industry Council
Tracks metrics such as option volume, implied volatility, historical volatility, and activity across U.S.-listed stocks and indexes.
Why we recommend it
Connect volatility measures with market activity.
Interactive Brokers
Illustrative diagram
Intermediate
Interactive Brokers
Compares market-implied probability distributions with a user's own assumptions and visualizes potential strategy outcomes.
Why we recommend it
See how personal assumptions change a scenario.
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