Build any options strategy, see the payoff curve at expiry, max profit/loss, breakevens, and position-level Greeks — all live.
An options strategy is hard to evaluate without a payoff diagram. You need to see, visually, where you make money and where you lose it across the range of possible underlying prices at expiry. Strota's strategy builder gives you that diagram instantly — for any combination of calls and puts you can construct, on any F&O underlying.
Whether you're building a defined-risk Iron Condor, a directional Bull Call Spread, or a volatility-play Long Straddle, the builder shows you the payoff curve, max profit, max loss, breakeven points, and position-level Greeks (Delta, Theta, Vega) — all updating live as you adjust strikes or quantities.
Click any template to load it instantly. Strikes default to ATM-relative positions so you can tweak from a sensible starting point:
Directional (single leg): Long Call, Long Put, Short Call, Short Put — the simplest building blocks.
Defined-risk spreads: Bull Call Spread (buy ATM call + sell OTM call) and Bear Put Spread (buy ATM put + sell OTM put). Capped upside, capped downside, cheaper than naked options.
Volatility plays: Long Straddle (buy ATM call + buy ATM put) and Long Strangle (buy OTM call + buy OTM put). Pure bets on volatility — you make money if the underlying moves far in either direction.
Premium collection: Iron Condor — sell OTM call + buy further-OTM call + sell OTM put + buy further-OTM put. Defined-risk credit trade; profits if the underlying stays within the inner short strikes.
The SVG payoff curve plots profit/loss in ₹ on the Y axis against the underlying spot price at expiry on the X axis. Green area = profitable; red area = loss. The current spot is marked with a vertical dashed line so you can read where the strategy sits today.
Breakeven points (where P&L crosses zero) get highlighted with markers and labels. Max profit and max loss are computed across the scenario range; if the strategy has unlimited upside or downside (e.g. a naked long call), the stat reads 'Unlimited' explicitly rather than capping at a sweep boundary.
Position-level Greeks summed across all legs: Delta tells you your effective shares-equivalent exposure, Theta tells you the daily time-decay you're paying or earning, and Vega tells you what happens if implied volatility moves 1%. These are the numbers that determine whether the position behaves the way you expect.
The strategy builder is rendered on the main dashboard for NIFTY and on every per-stock page for that stock's options. Lot sizes are pulled from official end-of-day derivatives data automatically — NIFTY at 75, BankNifty at 30, FinNifty at 65, MidcpNifty at 50, and per-stock lots looked up from the F&O contract data.
Premiums for each leg auto-populate from the option chain when you select a strike, so you don't have to type them in manually. Change a strike or option type and the premium updates instantly.
Yes. Hit '+ Add leg' to add any combination of Buy/Sell x Call/Put x Strike x Quantity. The templates are starting points; you can edit them or build from scratch.
V1 shows payoff at expiry only. Before-expiry P&L requires Black-Scholes pricing across the scenario range and is on the roadmap. For now, the at-expiry view is correct for buy-and-hold-to-expiry strategies and a reasonable approximation for shorter holds at the strikes.
NIFTY 75, BankNifty 30, FinNifty 65, MidcpNifty 50, and per-stock lots looked up from official end-of-day derivatives data. If you're looking at a stock's strategy builder, lot size reflects that stock's contract spec.
Implied volatility is back-solved from each option's last close price using Newton-Raphson on the Black-Scholes price function. Greeks then follow from closed-form Black-Scholes formulas. Risk-free rate is held at 6.5% (RBI repo ballpark). These are EOD values from end-of-day derivatives data; live intraday Greeks would require a real-time broker feed.
Not yet — savable strategies with shareable permalinks are on the roadmap and would make sharing setups on Telegram and Reddit much easier. For v1, write down or screenshot the legs to recreate them.