Level 1 • What is an Option?
You pay a small deposit to reserve the right to buy a house later. That's a Call.
- •Call = right to BUY at strike, Put = right to SELL at strike
- •Premium = price you pay for that right
- •Strike = agreed price, Expiry = deadline
- •At expiry: Call worth max(0, Stock - Strike), Put worth max(0, Strike - Stock)
🎯 Try: Drag the stock price slider. See when your Call turns green (profit).
House Analogy
You see a house listed for $100k. You pay $3k to reserve the right to buy it at $100k within 30 days. If house goes to $120k, you profit $17k. If it stays at $90k, you let it expire and lose only $3k. That's a Call option. Put is the opposite — right to sell.
Educational only. Not financial advice. Runs 100% in your browser.
Market Inputs (manual)
P/L at ExpiryCurrent: $100
Net Cost / Credit
-3.00
P/L at $100
-3.00
Max Profit
$47.00
Max Loss
$-3.00
Breakevens
$103.00
Quick Templates
Strategy Legs (1)
Manual entry: paste premiums from Yahoo Finance delayed chain. No API needed.
Why this is different
- No API key, no tracking, runs offline
- Teaches with analogies before Greeks
- 5 levels = beginner never sees Iron Condor on day 1
- Manual entry = you learn premium, not just click chain