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credit_spread

Bull put or bear call credit spread figures: width, maximum profit and loss, breakeven, return on risk, credit-to-width, and the model's chance of profit when implied volatility and days are given.

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Argument	Type	Description
days	any	Days to expiration, for the chance of profit. Optional.
kind*	string	put for a bull put spread, call for a bear call spread.
price*	number	Stock price in dollars.
credit*	number	Net credit received per share, in dollars.
iv_pct	any	Implied volatility, percent per year, for the chance of profit. Optional.
contracts	integer	Number of contracts. Default 1.
long_strike*	number	The strike bought, in dollars.
short_strike*	number	The strike sold, in dollars.

Input schema (JSON)

{
  "type": "object",
  "title": "credit_spreadArguments",
  "required": [
    "kind",
    "price",
    "short_strike",
    "long_strike",
    "credit"
  ],
  "properties": {
    "days": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Days",
      "default": null,
      "description": "Days to expiration, for the chance of profit. Optional."
    },
    "kind": {
      "enum": [
        "put",
        "call"
      ],
      "type": "string",
      "title": "Kind",
      "description": "put for a bull put spread, call for a bear call spread."
    },
    "price": {
      "type": "number",
      "title": "Price",
      "description": "Stock price in dollars."
    },
    "credit": {
      "type": "number",
      "title": "Credit",
      "description": "Net credit received per share, in dollars."
    },
    "iv_pct": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Iv Pct",
      "default": null,
      "description": "Implied volatility, percent per year, for the chance of profit. Optional."
    },
    "contracts": {
      "type": "integer",
      "title": "Contracts",
      "default": 1,
      "minimum": 1,
      "description": "Number of contracts. Default 1."
    },
    "long_strike": {
      "type": "number",
      "title": "Long Strike",
      "description": "The strike bought, in dollars."
    },
    "short_strike": {
      "type": "number",
      "title": "Short Strike",
      "description": "The strike sold, in dollars."
    }
  }
}

debit_spread

Call or put debit spread figures: width, maximum profit and loss, breakeven, reward to risk, debit-to-width, and the model's chance of profit when implied volatility and days are given.

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Argument	Type	Description
days	any	Days to expiration, for the chance of profit. Optional.
kind*	string	call for a call debit spread (bullish), put for a put debit spread (bearish).
debit*	number	Net debit paid per share, in dollars.
price*	number	Stock price in dollars.
iv_pct	any	Implied volatility, percent per year, for the chance of profit. Optional.
contracts	integer	Number of contracts. Default 1.
long_strike*	number	The strike bought, in dollars.
short_strike*	number	The strike sold, in dollars.

expected_move

The one and two standard deviation price ranges the options market is pricing for a stock over a horizon, from the stock price, implied volatility and days ahead.

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Argument	Type	Description
days*	number	Calendar days ahead.
price*	number	Stock price in dollars.
iv_pct*	number	Implied volatility, percent per year (30 means 30 percent).

Input schema (JSON)

{
  "type": "object",
  "title": "expected_moveArguments",
  "required": [
    "price",
    "iv_pct",
    "days"
  ],
  "properties": {
    "days": {
      "type": "number",
      "title": "Days",
      "description": "Calendar days ahead."
    },
    "price": {
      "type": "number",
      "title": "Price",
      "description": "Stock price in dollars."
    },
    "iv_pct": {
      "type": "number",
      "title": "Iv Pct",
      "description": "Implied volatility, percent per year (30 means 30 percent)."
    }
  }
}

learn_read

The full text of one Learn article, glossary term, calculator page or research page by slug, as Markdown with its link. Use learn_search first when the slug is unknown.

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Argument	Type	Description
slug*	string	The page slug or path, for example iron-condor-entry-screening or /learn/glossary/delta.

Input schema (JSON)

{
  "type": "object",
  "title": "learn_readArguments",
  "required": [
    "slug"
  ],
  "properties": {
    "slug": {
      "type": "string",
      "title": "Slug",
      "description": "The page slug or path, for example iron-condor-entry-screening or /learn/glossary/delta."
    }
  }
}

learn_search

Find the Learn article, glossary term, calculator or research page that answers an options question: strategies, the greeks, implied volatility, IV rank, probability of profit, rolling, assignment, the wheel, screening rules and more. Returns titles, summaries and links.

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Argument	Type	Description
limit	integer	How many results, 1 to 20. Default 5.
query*	string	What to look for, in plain words.

Input schema (JSON)

{
  "type": "object",
  "title": "learn_searchArguments",
  "required": [
    "query"
  ],
  "properties": {
    "limit": {
      "type": "integer",
      "title": "Limit",
      "default": 5,
      "maximum": 20,
      "minimum": 1,
      "description": "How many results, 1 to 20. Default 5."
    },
    "query": {
      "type": "string",
      "title": "Query",
      "description": "What to look for, in plain words."
    }
  }
}

list_strategies

The eleven standard structures the calculator knows (long call and put, covered call, cash-secured put, the four vertical spreads, iron condor, straddle, strangle), each built on an example stock price with its legs, maximum profit and loss, breakevens and chance of profit, with a link to open each one.

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Argument	Type	Description
days	number	Days to expiration.
spot	number	Stock price in dollars.
iv_pct	number	Implied volatility, percent per year (30 means 30 percent).

Input schema (JSON)

{
  "type": "object",
  "title": "list_strategiesArguments",
  "properties": {
    "days": {
      "type": "number",
      "title": "Days",
      "default": 30,
      "description": "Days to expiration."
    },
    "spot": {
      "type": "number",
      "title": "Spot",
      "default": 100,
      "description": "Stock price in dollars."
    },
    "iv_pct": {
      "type": "number",
      "title": "Iv Pct",
      "default": 30,
      "description": "Implied volatility, percent per year (30 means 30 percent)."
    }
  }
}

position_size

How many contracts fit a risk budget: account equity, the percent of it risked per trade, and the worst case per contract give the dollar budget, the contract count and the share of equity at risk.

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Argument	Type	Description
equity*	number	Account equity in dollars.
risk_pct*	number	Risk budget per trade as a percent of equity.
max_loss_per_contract*	number	Maximum loss per contract in dollars.

Input schema (JSON)

{
  "type": "object",
  "title": "position_sizeArguments",
  "required": [
    "equity",
    "risk_pct",
    "max_loss_per_contract"
  ],
  "properties": {
    "equity": {
      "type": "number",
      "title": "Equity",
      "description": "Account equity in dollars."
    },
    "risk_pct": {
      "type": "number",
      "title": "Risk Pct",
      "description": "Risk budget per trade as a percent of equity."
    },
    "max_loss_per_contract": {
      "type": "number",
      "title": "Max Loss Per Contract",
      "description": "Maximum loss per contract in dollars."
    }
  }
}

probability_of_profit

The model probability that a stock finishes above or below a price level (a breakeven or a short strike) by a date, from implied volatility, under the lognormal the options market implies.

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Argument	Type	Description
days*	number	Days to expiration.
level*	number	The price level to test, in dollars: a breakeven or a short strike.
price*	number	Stock price in dollars.
iv_pct*	number	Implied volatility, percent per year (30 means 30 percent).

Input schema (JSON)

{
  "type": "object",
  "title": "probability_of_profitArguments",
  "required": [
    "price",
    "level",
    "iv_pct",
    "days"
  ],
  "properties": {
    "days": {
      "type": "number",
      "title": "Days",
      "description": "Days to expiration."
    },
    "level": {
      "type": "number",
      "title": "Level",
      "description": "The price level to test, in dollars: a breakeven or a short strike."
    },
    "price": {
      "type": "number",
      "title": "Price",
      "description": "Stock price in dollars."
    },
    "iv_pct": {
      "type": "number",
      "title": "Iv Pct",
      "description": "Implied volatility, percent per year (30 means 30 percent)."
    }
  }
}

profit_calculator

Price any options trade with up to eight legs: maximum profit and loss, breakevens, net credit or debit, the model's chance of profit at expiration and the expected move. Pass a strategy name (for example iron_condor or bull_put_spread) to build standard legs from the stock price, or pass the legs yourself with strikes and prices. Ask it for the max loss on a spread, the breakeven on a straddle, or the chance a condor finishes profitable. Returns a link that opens the same trade in the Optionscanner calculator.

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Argument	Type	Description
days*	number	Days to expiration.
legs	any	The legs of the trade, up to eight. Each has a side (buy or sell), a type (call, put or stock), a strike for options, a quantity, and optionally the price per share paid or received; a missing price is estimated from the implied volatility.
spot*	number	Stock price in dollars.
iv_pct*	number	Implied volatility, percent per year (30 means 30 percent).
rate_pct	number	Interest rate the model uses, percent per year. Default 4.
strategy	any	A standard structure built from the stock price: long_call, long_put, covered_call, cash_secured_put, bull_call_spread, bear_put_spread, bull_put_spread, bear_call_spread, iron_condor, long_straddle, long_strangle. Omit when passing legs.

what_if

What a trade is worth if the stock moves, time passes or implied volatility changes: profit or loss on a chosen date at a chosen stock price, the same at expiration, and the change for one more day, one more volatility point and a one dollar move. Use it for questions like what happens to my condor if the stock drops ten percent next week.

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Argument	Type	Description
days*	number	Days to expiration.
legs	any	The legs of the trade, up to eight. Each has a side (buy or sell), a type (call, put or stock), a strike for options, a quantity, and optionally the price per share paid or received; a missing price is estimated from the implied volatility.
spot*	number	Stock price in dollars.
iv_pct*	number	Implied volatility, percent per year (30 means 30 percent).
rate_pct	number	Interest rate the model uses, percent per year. Default 4.
strategy	any	A standard structure built from the stock price: long_call, long_put, covered_call, cash_secured_put, bull_call_spread, bear_put_spread, bull_put_spread, bear_call_spread, iron_condor, long_straddle, long_strangle. Omit when passing legs.

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