OptionsStrat (Affiliate)
OptionsStrat is the primary tool for visualizing option strategies before entry. It shows the risk/reward profile, the probability of profit, the breakeven points, and the Greeks across the trade lifecycle. Every strategy walkthrough in the playbook links to the relevant OptionsStrat template.
Disclosure: the OptionsStrat link above is an affiliate link — the site may earn a commission if you sign up. The recommendation is on the merits; the journal uses OptionsStrat daily and would recommend it without the affiliate relationship.
Broker
The journal uses a major retail brokerage that supports SPX and XSP options with commission-free closing trades. The specific broker is not disclosed because the trade structure is broker-agnostic. The methodology applies to any broker that supports CBOE-listed index options.
Data & Charts
Market data, charts, and options chains are pulled from the broker's platform. Historical volatility comparisons and IV-rank readings are calculated using the broker's tools. Public.com is used for real-time quotes on sector ETFs and certain less-liquid tickers.
Calculators
Position sizing follows a fixed-fractional model (see the playbook). The journal uses a spreadsheet for expected-value calculations across spread structures, and the broker's built-in options calculator for single-leg Greeks.
Notes & Records
Every trade is recorded in a structured format — instrument, strike(s), expiration, premium, target, stop, entry reasoning, and exit reasoning — that mirrors the trade log on this site. The records are kept in plain markdown so they can be version-controlled and audited.