Strategy Lab: Build, Compare, and Optimize Multi-Leg Strategies

The Strategy Lab lets you construct any multi-leg options strategy, modify legs in real time, and instantly see the P&L profile, Greeks, and probability metrics update. The interactive equivalent of working through strategy mechanics on paper.

Use cases: adjusting a candidate iron condor's wing widths to compare risk-reward at different strike spacings, modeling a calendar spread's behavior at different DTE combinations, or stress-testing a complex position (jade lizard, ratio spread, broken wing butterfly) before placing it live. Every change updates the P&L curve and Greeks instantly.

Compare-mode lets you place two strategies side-by-side: same underlying, same expiration, different structures. The comparison highlights subtle trade-offs that aren't visible from looking at either structure alone — e.g., how much an iron butterfly's narrower profit zone costs you in capital efficiency vs an iron condor at the same expiration.

Frequently Asked Questions

Can I save and share strategy setups?

Yes — saved setups generate a shareable URL that loads the same legs and underlying for another user.

Does it support 4+ leg strategies?

Up to 6 legs across mixed strikes and expirations. Beyond that the structures rarely have practical applications.

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