Options Strategy Advisor

• You want to simulate the P&L, max profit/loss, and breakevens of a specific options strategy (e.g., "What's my max profit on a $180/$185 bull call spread on AAPL with 30 DTE?").
• You need Greeks analysis—Delta, Gamma, Theta, Vega, Rho—for a single option leg or an aggregated multi-leg position.
• You are evaluating an earnings play and want to compare a long straddle vs. a short iron condor, including IV crush risk assessment.
• You want educational walkthroughs of strategies like covered calls, protective puts, iron condors, or strangles, including entry criteria, exit rules, and adjustment guidance.

• You need real-time, live options chain data or live implied volatility feeds—this skill uses theoretical Black-Scholes pricing and historical volatility from FMP; actual market prices will differ.
• You are trading American-style options where early exercise is a central concern; the skill notes it uses European-style pricing and may undervalue American options.
• You want fully automated trade execution or broker integration; this skill is analytical and educational, not a trading platform.

Calculates theoretical call and put prices using the Black-Scholes model with inputs for stock price, strike, time to expiration, volatility, risk-free rate, and dividend yield. If implied volatility is not provided by the user, historical volatility is automatically computed from up to 90 days of price data via the FMP API.

Computes Delta, Gamma, Theta, Vega, and Rho for individual option legs and aggregates them across multi-leg strategies. Each Greek is explained in plain language with a concrete dollar-impact interpretation (e.g., "Θ = -$5/day means you lose $5 per calendar day from time decay").

Generates P&L curves across a ±30% stock price range for all supported strategies, identifying max profit, max loss, breakeven points, and a simplified probability-of-profit estimate. Results are visualized as ASCII art P&L diagrams directly in the chat output.

Covers income strategies (covered call, cash-secured put, PMCC), protection strategies (protective put, collar), directional spreads (bull/bear call and put spreads), volatility strategies (straddles, strangles), range-bound strategies (iron condor, iron butterfly), and advanced strategies (calendar spreads, diagonal spreads, ratio spreads).

Integrates with the Earnings Calendar skill to fetch upcoming earnings dates and days-to-expiration, then evaluates pre-earnings plays such as long straddles and short iron condors. Critically highlights IV crush risk—quantifying how a post-earnings volatility drop can produce losses even when the stock moves in the expected direction.

Provides account-relative position sizing recommendations based on user-defined risk tolerance (e.g., 2% per trade), portfolio-level Greeks aggregation, and strategy-specific exit rules including profit targets (typically 50% of max profit), stop-loss triggers (typically 2× debit/credit), and time-based roll guidelines (21 DTE).

A trader asks: "What's the P&L on a $180/$185 bull call spread on AAPL with 30 days to expiration and 10 contracts?" The skill fetches the current AAPL price via FMP, calculates historical volatility, prices both legs with Black-Scholes, computes net debit, max profit/loss, breakeven, and position Greeks, then renders a full P&L diagram and trade management plan.

Before NVDA earnings, a user asks whether to buy a straddle or sell an iron condor. The skill retrieves the earnings date, calculates days to expiration, compares the implied move against the straddle's breakeven cost, quantifies the IV crush risk in dollar terms, and simulates both strategies side by side with specific entry and exit recommendations.

A user unfamiliar with iron condors asks "How does an iron condor work?" The skill explains the four-leg setup, the profit zone concept, how theta and vega interact, when the strategy is appropriate (high IV, range-bound outlook), and simulates a concrete example with a P&L diagram and adjustment guidance if one side is tested.

A user provides their current options positions and asks for an overall Greeks check. The skill aggregates Delta, Theta, and Vega across all positions, interprets the net exposure (e.g., short vega risk if VIX spikes), and suggests specific adjustments to bring the portfolio toward a target Greeks profile.