This builder lets you construct any options position leg by leg — starting from one of the 44 strategies on this site as a template, or entirely from scratch.
Loads the legs for that strategy at current strikes — edit anything below, then save your version.
Each leg is one option (or the underlying itself) — pick Buy or Sell, call or put, a strike, quantity, and expiry. The panels below recompute the moment any leg changes.
Max Profit and Max Loss are the best and worst outcomes across every price the underlying could reach by expiry — "Undefined" appears where a leg is uncapped, most often a naked short option. Net Premium is what changes hands opening the position today (negative means you pay, positive means you collect). Breakeven is the price (or prices) where the position neither gains nor loses.
Required margin is live SPAN + exposure margin from Upstox, including hedge benefit across legs — this is what a broker would actually block for this trade, not a max-loss estimate. Shows "—" if it can't be verified live rather than a guessed number.
Risk:Reward compares the position's max loss to its max profit — a 1:2 reading means the potential gain is twice the potential loss, though it says nothing about which outcome is more likely. Risk Profile flags whether the position's downside is fully capped ("Defined") or not ("Undefined") at a glance.
Plots profit or loss at expiry across a range of prices for the underlying — the shape of this line is what actually defines a strategy (a straight diagonal for a single option, a flat-topped tent for a spread, and so on), more than its name does.
Hover the chart for price / P/L / nearest strike.
These four numbers are the sum across every leg, not any single option's own Greeks — a multi-leg position's net Delta, Gamma, Theta, and Vega can look very different from what any one leg shows on its own, since buying and selling legs partially offset each other.
Computed via Black-Scholes from each leg's strike, live implied volatility (from the option chain), and days to expiry. Each leg's own Delta, Theta and IV are shown under that leg; the strike list shows each strike's delta. A stock leg's delta is always 1 per share (it moves 1:1 with itself) — no gamma/theta/vega, since it's not an option.
Every number on this page — payoff, Greeks, margin — is a live computation from your exact legs, not a lookup against a fixed list of named strategies, so it stays accurate no matter how unconventional the combination you build. Start from a template if you want a known shape to adjust, or build from scratch and let the panels above tell you what you've actually constructed.
OptionStrategyBuilder