Options toolkit
Black-Scholes Greeks calculator, expected move math, and the strategy decision grid.
Greeks calculator
Results
Option price$6.27 ($627/contract)
Delta (speed)0.5347
Gamma (accel)0.0264
Theta ($/day)$-0.1088
Vega (per 1% IV)$0.1709
Rho (per 1% rate)$0.0608
Expected move (1 stdev)
±$15.05 by expiration
~68% chance stock lands in $134.95 – $165.05
Strategy decision grid
Match strategy to view AND current IV. Most retail traders only use one strategy and lose money in the wrong regime.
BullishLow IV
Long call / debit call spread
Buy cheap premium when vol is low. Direction is your bet, vol is a bonus.
BullishHigh IV
Sell put / put credit spread
Collect rich premium. Get paid to wait. If you wanted shares anyway, even better.
BearishLow IV
Long put / debit put spread
Buy cheap protection. Lottery ticket on a crash.
BearishHigh IV
Sell call / call credit spread
Defined-risk way to bet bearish without naked exposure.
NeutralLow IV
Calendar / diagonal / SKIP
Hardest environment. Often best to just wait.
NeutralHigh IV
Iron condor / strangle (short)
Sell wings, collect premium, hope nothing happens. Advanced.
VIX regimes — set your overall posture
< 15ComplacentPremium sellers happy. Buy protection when nobody wants it.
15–20NormalTrading environment baseline.
20–30NervousHedging activity rising. Watch breadth deterioration.
30–40FearReal drawdowns. Selling premium gets dangerous but profitable.
40+PanicHistorically, these are index buying opportunities. Hard to execute emotionally.