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Thanks -- Is there some software (mostly free) where I can model these strategies and understand the payoffs, etc?

• officalrules 8y ago
  My recommendation is to read, read, read and build out the models yourself in the language or application of your choice (Python is pretty easy, Excel is even easier to start with). Start by drawing the simplest payoff diagrams you can, then layer various additional positions to build up strategies until you can recall the payoffs of your combined position with your eyes closed. There are plenty of options models available online in various formats, but by taking the time to build it yourself you will have a much deeper understanding of the structure of the positions and you will be able to extend the model to fit your needs as you move beyond simple strategy payoffs. Source: I was a TA for a graduate finance class for 3 years
• jonknee 8y ago
  This is a pretty clean list of all the common strategies along with charts showing their P/L: http://www.theoptionsguide.com/option-trading-strategies.aspx http://www.theoptionsguide.com/option-trading-strategies.asp...
• durkie 8y ago
  http://www.optionsprofitcalculator.com/ http://www.optionsprofitcalculator.com/ seems to be kind of popular, but it's not the most intuitive to use. I think of this as something that many brokerages offer...