Warsoption’s Advanced Option Calculator Excel Spreadsheet

Whether you are an expert options trader or dream of being one,

 this interests you

Take control of your trades, your money and time and increase your trading profits

Know in detail the key points of your strategy, analyze the effect of time and valatility, modify and record your trades and take full control with this Advanced Options Calculator Excel

I want to take control and improve my results!

(Even if you have just started with options)

What does the Advanced Options Trading Calculator Excel include?

The Advanced Option Calculator Excel is composed of several files:

• Advanced Calculator V7.xslm: This is the Black Scholes Option strategy builder Excel of the current version that will allow you to create all the options strategies and calculate profits and where you will analyze, simulate and adjust your trade.
• Transaction Log.xlsx: This is the Excel in which your options trades will be registered and sorted by opening date, allowing you to view your results by month and keep track of your stocks with the Stock Manager
• User Guide.pdf: These are the instructions on how to use the Option strategy builder Excel and the Log, detailed by section, step by step so that you can squeeze the maximum potential out of it.
• Contact, Tutorials and FAQ: It is a pdf that includes detailed video tutorials on how to use the Option Calculator Excel files, a FAQ in which we answer the most frequently asked questions, and our contact information in case you need us to solve any doubt.

Here you can see how a neutral double Broken Wing Butterfly looks like on the option strategy builder Excel. With this information, you can see at a glance the key points of the strategy

Here is an extract from the Transaction Log file where you can see the monthly summary and the results per trade, before and after commissions.

Here you can see the Stock Manager that is included in the Transaction Log that will help you to keep track of your trades while learning your exact Cost Basis when you perform Covered Calls or Naked Puts with the Advanced Calculator

In this video, you will learn how to use the Advanced Calculator in detail

Main Features of the Calculator

• Create any strategy, existing or not
• Trade stock options, futures or ETFs
• Analyze at a glance the entire strategy at a glance and the main key points
• Analyze the Greeks and their global evolution according to the underlying
• Analyze up to 5 different timeframes and the effect of volatility on the strategy
• Use the Pointers to define stops and targets in your trade
• Record your trades in the journal with virtually a click of a button and keep track of them with the Stock Manager added in V7

Also, you get these three bonuses!

 Any future update is free

From the moment you access the Calculator, any future updates will be completely free of charge and forever.

Your suggestions are prioritized

If you are missing any features or would like us to add any improvements to the Calculator, we are here to help!

We will give top priority to your suggestions for future updates.

Technical support guaranteed

We offer free technical support forever. You can ask us any question through our email address

Access the Advanced Options Calculator Excel and improve your trading

Usual Price: 120$

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Final Price: 99$

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Advanced Calculator Frequently Asked Questions

What is an option profit calculator excel?

An option profit calculator excel, or an option calculator excel is the main tool for an option trader that will help us calculate the premiums of the options contracts of a strategy when we open the trade using both call and put options.

Of course, we will not need to worry too much about the details of the trade for a one-legged strategy. If we only want to calculate the immediate premium of a single call or put, we can use a much more basic option trading calculator, like this one here.

This is our free and very basic Excel option calculator

This basic option trading calculator Excel is the one we use when we want to open simple strategies such as a covered call, a long call, or a long put. This one is like having a mini option chain calculator in Excel.

If you are interested in this particular option payoff calculator excel, you can download it here:

Get This Free Option Calculator

Get our completely FREE calculator and begin planning your basic option strategies in less than a few minutes!

I want to know more

However, the previous option price calculator Excel is not very useful when we want to open strategies with multiple legs such as straddles, strangles, long strangle option strategy, or calendar spreads.

As you can imagine, the main disadvantage of this basic options profit calculator is that the capability of developing a more complicated strategy is much more limited. Also, it does not allow us to visualize the behavior of the strategy, nor the gains, losses, and greeks.

That is why we have developed a much more complete options profit calculator Excel that allows us to include much more option legs and a better and clearer vision of the overall strategy and of every option greek. It also includes an Option trading journal integrated in the Excel sheet so you can easily record and log every single trade you perform.

Our option strategy builder Excel sheet

With our options profit calculator, we will be able to determine everything important to the strategy, such as the gains, the losses, or the break-even points, no matter which one we decide to use.

For example, with our Advanced Option Trading Calculator Excel, we will be able to create any strategy we desire, such as the short strangle option strategy, iron condor, call backspread, put ratio backspreads, the long straddle, the short straddle… etc.

Why should we use an option trading calculator excel or an option strategy builder excel?

The main reason is to gain control over the trade. Whenever we want to open or close a position in the options market, we should always maintain control of our potential profits, but especially over our losses.

If we are going to be exposed to risk, the most complex strategies will require us to have the maximum control over the trade to be able to anticipate any possible scenario, and that includes that we need to know the option payoff.

For example, if we wanted to execute a put credit spread, with our options profit and losses calculator, we will be able to know before opening that trade the maximum risks, profits, break-even points, the behavior of the strategy through time, and the behavior when the underlying price changes.

Option profit calculator excel: option payoff graph

Of course, all this can be done without an option strategy builder excel, but it is going to be quite hard to track everything.

The aim of our option calculator excel is to simplify the option trades while showing you the option payoff and to easily record them, so we only have to focus on choosing the best technical analysis strategies.

Using our Advanced Options Trading Calculator Excel

Our Advanced option strategy builder excel is composed of 6 sections that include a lot of information. To help you understand its features, we will be breaking down all of them, one by one.

Here you can check every section of our Option Trading Calculator Spreadsheet

Let us begin with the most basic feature: creating the option strategy combining both call and put options.

Section 1: Creating the Option Strategy in the Options Excel Calculator

With our Advanced Option Trading Calculator Excel, we will be able to create any option strategy that we want, even if it does not exist at all taking. In other words, you can make your own strategies with this excel.

To do so, we have included 8 legs that we can use to enter the details of the options. In every one of them, we will be able to choose between call and put options, and we will be able to specify the underlying price, the strike price and the volatility, and the days to the expiration according to the formula of the Black-Scoles model as you can see in the following image.

Section 1 is considered the options strategy builder Excel, you have to enter the data of the option to get the price and the greeks

In the option strategy payoff calculator spreadsheet, we have included both the interest ratio and dividends too. Even when they do not have a great impact on the option payoff, we believe it is very important to add them to replicate the Black Scholes model as it is. In the next row, we will be able to choose as many contracts as we want, either short or long.

To do so, we only have to enter the number of the contracts that we want to trade. For example, we enter the number -1 for short option contracts and we enter the number +1 for long option contracts in the spreadsheet

Once we have defined our strategy, section 1 of the option trading calculator will calculate the payoff diagrams, but first, we will see a breakdown of the option pricing for each contract.

In this part of section 1 of our option calculator Excel, we will see the premium for both short or long call and put options

The first row, “Premium 1 contract” will show us the premium for one contract, the second row “Premium/Contract” will show us the total premium for all the option contracts of that leg. The last row will tell us the net value of the entire option contracts of that particular leg.

Lastly, on the “Entry Value” section of the options trading calculator in Excel, you can check whether we are making a payment (debit) or receiving a sum (credit) when opening the current strategy.

In addition to this, the premium is indicated in both cases. We will see the box in green for a credit and red if it is a debit.

The option strategy builder Excel will also show us the debit/credit of the trade

Contract multiplier in the Advanced Options Trading Calculator Excel Spreadsheet for Futures Traders

We are aware that many traders do not only focus on stocks or ETFs options but on futures options too. We have included a Contract Multiplier so you can easily choose the correct multiplier that applies to your instrument so you can learn the option payoff of your option contracts with precision.

For example, if we wanted to trade /ES, we would be needing a contract multiplier of 50, instead of the standard 100 that is used for stocks or ETFs options. Now, we can easily change this by selecting the cell “Multiplier” and setting it to 50.

This configuration is especially for Future Traders

As we can see, the option payoff of the strategy has changed from 30$ credit to 15$ credit.

Also, we have included the premium values for one single options strategy and for many of them. In case we wanted to trade with 5 call backspread over this instrument, we will be able to see the performance of both the single strategy and the strategy with the 5 call backspreads.

Creating Stock-Based Option Strategies like a covered call with the Advanced Option Profit Calculator Excel

To create Stock-Based option strategies with the Advanced Option Trading Calculator, we will need to define the stock price at which we bought the option. In our case, we are going to define it as $26. After that, we will need to include the number of shares we have in our portfolio. For simplicity, we are only going to add 100 in our example.

Now, if we just decide to sell a call option with a strike price of $28, we will be able to see the option payoff performance of this covered call in the main graph.

Here you can see an example of the result of the option payoff of a Covered Call with the Advanced Option Trading Calculator Excel Spreadsheet

Section 2: Calculating graph and key points in the option payoff calculator Excel

In Section 2 of Our Advanced Options Strategy Calculator, we have included both the graph and the key points of the strategy, both at expiration and at the current date. Also, we have added three more curves that will represent different times to expiration, so we will be able to know how our strategy will perform overtime.

To help you understand how this works, we will create a bullish credit spread as an example of an option strategy. Let us take a look at the option payoff too.

Option payoff of an Option Spread calculator Excel as an example

Let us breakdown this section little by little.

The graph of the option strategy

In this section, we will be able to quickly see how is the profit/loss profile of the option strategy in a very visual way as weel as the maximux profit and loss.

Here is the graph of the Option Strategy Builder Excel created in section 1

As you can see, with the graph, we will easily identify the behavior of the strategy both at expiration and at the current date, plus at three different times that we desire.

This will be very useful if you like to trade strategies that have different legs with different expiration dates, as you can easily change the expiration dates for any of the legs, at any time.

Calculating maximum profit on the option trading calculator

The easiest way to calculate the profit is looking at the max profit, in the cells “Maximum Profit” section, where we will be able to identify this value for both the current date and the expiration date.

The maximum profit on the option strategy calculator

For example, in this put spread, we have a maximum profit of $104.7 (the value we receive on the credit when we open the trade) when the underlying is over $79 at expiration.

Calculating maximum loss on the option calculator Excel

The easiest way to know which is the maximum loss is to look at the “Maximum Loss” section, where we will be able to identify this value for both the current date and the expiration date.

Reading the maximum loss on the option calculator Excel

For the option spread example in our options profit and loss calculator Excel, the maximum loss at expiration is $195.3 when the underlying is below $75.8.

Calculating the break-even point in the option calculator Excel

The easiest way to know which is the maximum profit is to look at the “Break-even” section, where we will be able to identify this value for both the current date and the expiration date.

Reading the break-even on the option calculator Excel spreadsheet

In our credit spread, the break-even point at the expiration date is between $78 and $77.8 of the underlying value.

Changing between times to expiration and volatility

In the upper side of the graph in the Advanced Option Strategies Calculator, we have the control panel for the three additional graphs which we have named “Time 1”, “Time 2” and “Time 3”.

In this panel, we will be able to check the performance of the strategy at three different times to expiration, apart from the current and the expiration date. We can either choose these times manually or automatically and we can choose to change the time of the entire strategy or just certain legs.

Of course, if we wanted to check how would the volatility change the performance of our strategy, we can do so by adjusting the volatilities values in the control panel. Again, we can choose if we want to change the volatility of the entire strategy or just for certain legs.

Section 3: Tracking and Representing the Greeks

If you happen to have a broker that does not provide you with the greeks of the options, with our advanced options calculator excel, you will have absolutely no problem!

Section 3 of the option profit calculator has included a very deep analysis of the option greeks for every leg and the entire strategy.

In section 3, you will find out the greeks of the option strategy calculator Excel

With this information, we can now apply different techniques to enter or exit strategies, such as stopping a trade when it reaches a certain delta.

Additionally, under the name of “Greeks Strategy”,  we can consult the total value of the greeks of the strategy.

You will also learn the total greek of the strategy in the option strategy builder Excel

Representing the Greeks of the strategy

We have added a graph in our options calculator excel, in which we will be able to see the behavior of the greeks in front of the underlying price.

You can choose which greek to monitor in the Options profit calculator Excel

As you can see, we can pick between delta, theta, gamma, vega, or display them all simultaneously. We have excluded rho in the graph because it is not as important as the other greeks.

Section 4: Using the Pointers in the option calculator Excel

In many situations, we might want to take any action attending to the behavior of the underlying price. This particular section is dedicated to that purpose.

In the option premium calculator Excel, you will find section 4 under the name of “Pointers”. Here, the idea is to use the pointer to establish a stop loss or a target price based on the underlying price.

For example, suppose we want to add a stop loss and a profit target to the credit spread strategy we have opened as an example. Even when the current stock price is 80, we can use the pointer to set it to other values such as 79 or 82,5. Let us take at section 4 of our option profit calculator in excel.

Option profit calculator excel

Since the underlying price value was at $80 at the opening, we could place a stop loss if the underlying falls to $79. That would result in a loss of $14.08 for the current date and a gain of $84.69 at the expiration date.

Besides, we can use the pointer to place a profit target when the value of the underlying asset reaches $82.5.

With the pointer, we will be able to calculate gains and losses on options for those key underlying prices we have selected, both at the current date and expiration. This will be useful to have a future projection of the behavior and define our strategy better, making this the difference between winning or losing trades.

Also, the spreadsheet will show us the risk reward ratio for every timeframe and for the total option strategy. It works for any strategy.

Use this excel to create your option strategy pointer with precision.

Displaying pointers and critical values with the Advanced Calculator

One of the most important features of our Advanced Calculator is the ability to display the most important spots on the option strategy. To help us visualize everything every key value and level, we have included both pointers and the critical values in the graph.

We have included three pointers that we can add to the graph. These are pointers to the entry underlying price, the stop-loss price, and the profit underlying price.

If we click on any of the buttons under the name of “Pointer”, we will be activating the chosen pointer to display over the graph.

Also, if we wanted to display the critical values of the Time Variance 3 for exampe, we can do so by just clicking on the “Show” button that is found under the section “Display Critical Values”

Section 5: Breakdown of the premium of legs of the strategy

If we want to take a look at how every single leg behaves when the underlying price change in section 5, we will be able to do so.

Just under section 3 of the strategy payoff calculator, we will find section 5. This one will show us the values of the premium for both the expiration and the current date, and it is displayed for each leg.

In the tables, we will see various columns in which we can find the option premium for each of the legs and its corresponding value for the indicated underlying and the total sum of the branches. Also, you will be able to see the performance of all the greeks of the strategy depending on the current value of the underlying too. This will be particularly useful to those situation in which we want to be ahead of what it may happen in the market.

Here you can see the Option premium in the calculator Excel

The graph of section 2 is created from the data in this section, but here, you can check every data with much more detail. Also, the greek graph from section 3 has been created from the greeks obtained in this section.

Section 6: Using the Option Trading Journal feature of the calculator

The journal feature of the option profit calculator Excel is destined to transfer the most important data from the trade and the strategy in another Excel sheet where we can easily see the number of legs, the number of contracts, and the most valuable options data of the strategy.

In this sheet, we can easily follow every single trade we have opened and closed, learning how much premium we have earned or lost, the date, and the commissions while trading at the same time with other option strategies.

Section 6 of the Option Strategy Excel

Once we have set the ID, the strategy, the Ticker and the month, we are ready to go. Immediately after clicking on the button, the Calculator will start operating and the Transaction Log of the Option Trading Journal will open.

This is the Transaction Log of the Advanced Option Profit Calculator Excel that show the options history of our trades

In the Log, the calculator will assign a row for every leg of the strategy so we can easily see the characteristics of every single contract.

As options are much more complex than trading with any other financial instrument, we have tried to make the Transaction Log as flexible as possible. For that reason, we must assign an ID for every single ticker so we can easily sort the trades just like in the following images:

Here we can see the Transaction Log whose Trades are disordered

And here we can see it ordered by just clicking on a button

That will help us to keep the strategies ordered and to follow up any new leg or adjustment we add in real time at the same time we keep track of other trades.

How do I get the Advanced Option Calculator Excel?

Our option calculator Excel can be purchased through this link to our Gumroad page or by clicking on the following image:

How much does the Advanced Option Calculator Excel cost?

The price of the calculator is $120.

Once you have acquired it, it will be yours forever, and you will have access to any future update for free!

Please note that this product is non-refundable.

What is included in the purchase of the Advanced Excel options calculator?

You will get four files:

• The Advanced Option Trading Calculator in Excel format (which is xlsm).
• The Transaction Log in Excel format (which is xlsm)
• The User Guide in PDF format.
• A video demo of how to use the Advanced Calculator

Summary of our Advanced Options Calculator Excel Spreadsheet

We do not know if ours is the best options calculator Excel or not. Still, we can assure you that it is absolutely fast, easy to use, and reliable when we need to calculate any option strategy that exists or not in the market.

In any case, if you are looking to trade on any option market, and you want to deal with stock options, futures options, and even options on indices, it is vital to have the right tools to control our risk and calculate our profits

With our advanced option calculator, you will have every option trade covered, no matter what option strategy you use.

You will be able to know the strengths and weaknesses of the strategy, check the gains, losses, and neutral points, as well as how to elaborate plans and tactics using stop-loss and profit points once the trade is defined.

With our Advanced Option Calculator Excel, you will gain all the control you need to dominate every option trade!

If you are still unsure if options are for you, we highly recommend you to take a look at this article in which we discussed why selling options is the key to win more trades and how to read the probability on options with delta.

Music used on the video: First Class from https://www.fiftysounds.com/es/

Frequent Questions About Option Trading in General