The Options Guide

Understand options, explore strategies, and see how an example position behaves as the underlying price changes.

The Options Guide brings its learning library and interactive calculators to iPhone and iPad. Start with the basics, study a strategy, then try its example in a payoff calculator.

LEARN AT YOUR OWN PACE
Browse 774 bundled articles covering options, futures and related markets. Follow an eight-lesson foundation, search the guide, bookmark useful articles, and keep track of completed lessons. The reading library works offline.

EXPLORE 87 STRATEGIES
Browse strategies by bullish, bearish or neutral outlook. Filter by risk, read explanations and study payoff diagrams. Move directly from a strategy article into its calculator example.

MAKE EXAMPLES YOUR OWN
Adjust option legs, premiums, strikes, position size and fees. Inspect modeled profit and loss, maximum risk and reward, and break-even values where defined. Save scenarios on your device and return to them later.

TOOLS FOR UNDERSTANDING
Estimate theoretical option prices and Greeks, or compare position size with a risk budget. Enter numbers and arithmetic using the built-in calculator keypad. Tools marked Website open separately and require an internet connection.

BUILT FOR READING
Choose light or dark appearance, enlarge article text, explore tables and diagrams, and share article links. No account is required. Your bookmarks, reading progress and saved scenarios stay on your device.

For education only. Examples and calculations are illustrative, not investment advice, live market quotes or an offer to trade. Results depend on the assumptions entered; some historical examples and market information may be dated. Options and futures involve risk.