Ryan Tanaka

The Greeks Playground, drag to explore

You bought one TSLA call. The scale never moves, so you can watch the shape and read the greeks. Grab the blue dot: left and right changes the stock price, up and down changes implied volatility. Drag the strike line too. Lock any variable to hold it still and isolate one greek.

Profit / loss per share

Value today (drag the dot) At expiration Max loss (capped)
Value now
$0
per share
Profit / loss
$0
per share
Delta
0
per $1 of stock
Gamma
0
delta speed
Theta / day
0
daily time decay
Vega / 1% IV
0
per 1% IV change
Breakeven
$0
stock at expiration
Max loss
$0
the premium, capped
Plain English
Three things to know about the Greeks:
  1. Delta is your speed. In practice it is how much the option moves per dollar of stock, and roughly its chance of finishing in the money.
  2. Theta is the rent you pay for time. It bleeds slowly at first, then faster as expiration nears, so you pay to hold the position every single day.
  3. Vega is your volatility exposure. A call gains when IV rises and loses when it falls, even if the stock sits still, which is why what you pay for it matters.

Taxes are not shown here. Options and the underlying stock are taxed differently, and it depends on your holding period and account type. None of this is tax advice.