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CSP MAX PROFIT = PREMIUM
·
BREAKEVEN = STRIKE − PREMIUM
·
THETA DECAY ACCELERATES AT 21 DTE
·
WHEEL CYCLE CSP → ASSIGN → CC → REPEAT
·
DELTA 0.30 ≈ 30% PROBABILITY OF ASSIGNMENT
·
XSP SECTION 1256 · CASH SETTLED
·
45 DTE ENTRY OPTIMAL THETA COLLECTION
·
CSP MAX PROFIT = PREMIUM
·
BREAKEVEN = STRIKE − PREMIUM
·
THETA DECAY ACCELERATES AT 21 DTE
·
WHEEL CYCLE CSP → ASSIGN → CC → REPEAT
·
DELTA 0.30 ≈ 30% PROBABILITY OF ASSIGNMENT
·
XSP SECTION 1256 · CASH SETTLED
·
45 DTE ENTRY OPTIMAL THETA COLLECTION
·
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optionslab.io — p&l calculator
$ calculate --strategy=CSP
 
ticker SOXL
stock_price $28.40
strike $26.00
premium $1.85
contracts 2
dte 45
max_profit +$370.00
breakeven $24.15
return_on_cap +7.12% annualized
$
Tool Suite

ALL THE MATH.
NONE OF THE NOISE.

Every calculator a wheel trader needs, built with the precision of a professional platform and the simplicity of a utility tool.

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Options P&L Calculator
Visualize profit, loss, and breakeven across the full price range at expiration. Supports cash-secured puts, covered calls, and vertical credit spreads. Interactive chart with key metrics — max profit, max loss, return on risk, capital required.
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COMING SOON
Wheel Return Calculator
Model a full CSP-to-covered-call wheel cycle. Calculate total premium collected, annualized yield, and effective cost basis across the complete income loop.
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Position Sizing Calculator
Calculate optimal contract size based on account value, max risk per trade, and delta. Never over-allocate to a single position again.
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Probability of Profit
Estimate the statistical probability your short option expires worthless. Based on delta approximation and Black-Scholes methodology.
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COMING SOON
IV Rank Calculator
Enter 52-week IV high, low, and current IV to get IV Rank and IV Percentile instantly. Know whether implied volatility is elevated before you sell premium.
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Why OptionsLab

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No bloat, no paywalls, no account required. Just fast, accurate tools that respect your time.

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All calculations run in your browser. No server roundtrips, no loading spinners. Results appear as you type.
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Every tool is free, forever. No email, no credit card, no account. Open and calculate.
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Trader-Designed
Built by options traders for options traders. The metrics shown are the ones that actually matter for income strategies.
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Works Everywhere
Fully responsive across desktop, tablet, and mobile. Run calculations from the trading desk or the couch.
The Wheel Strategy

THE INCOME LOOP EXPLAINED

The wheel strategy is a systematic options income approach: sell cash-secured puts, collect premium, accept assignment if needed, then sell covered calls to generate more income while waiting to exit. Repeat.

OptionsLab's tools are designed around each phase of this cycle — so you always know your numbers before you place the trade.

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01
Sell Cash-Secured Put
Collect premium below market price. If the stock stays above your strike, the option expires worthless and you keep the full premium.
↓
02
Assignment (if triggered)
If assigned, you buy 100 shares at your strike price. Your effective cost basis is strike minus premium collected.
↓
03
Sell Covered Call
Now owning shares, sell a covered call above your cost basis. Collect more premium and define your exit price.
↓
04
Repeat the Cycle
Whether called away or expired, restart the wheel. Each cycle generates premium income on the same capital.

KNOW YOUR
NUMBERS.

Stop estimating. Start calculating. The P&L calculator is free, instant, and requires nothing from you.

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