Working on your strategy

In this guide we see how to work on a strategy you have already built. In the same chat you can ask for a comparison: for example, with another bull put spread, with strikes one seventy-five and one seventy. Press Send: the chat builds the second strategy and puts it next to the first one.

The answer compares the two strategies in a table. The second one collects less, but its breakeven is further from the price, and its probability of profit is higher. In the panel, under Strategies, each strategy has its own pill, with its own colour. You can compare up to three: tap a pill to show it or hide it on the chart.

In the suggested questions, under Create a strategy in Options, there is also the what-if scenario: what happens to my strategy if the implied volatility drops by twenty percent? The answer works out the effect on the strategy, price by price.

The What-if tab opens in the panel, and at the top you see the scenario: volatility minus twenty percent. The result at expiry does not change: what changes are the coloured lines, that is, what the strategy would be worth before expiry. Let's go back to the strategy. The Refresh button takes the latest prices from the market and recalculates the numbers and the chart. If you open the strategy with the Open button, the entry prices are locked and Profit over time appears: it shows the profit or loss at every refresh. This one has just been opened, so the line will grow with each refresh.

To sum up: compare up to three strategies, try the what-if scenarios, and use Refresh to work with the latest prices.