Everything you need to know about StrikeDesk β from your first trade analysis to tracking your portfolio.
Click any ticker in the ticker bar (Mag 7, ETFs, S&P 500, or your own) β or type one directly in the Ticker field. The company name appears automatically below.
This fetches live expiry dates and strike prices from Yahoo Finance. All dropdowns fill in automatically with real market data.
For PMCC: pick a LEAPS expiry (far out, 1-2 years) and a short call expiry (near term, 30-45 days). The tool suggests good starting strikes automatically.
See live premiums, Greeks, P&L metrics, and a strategy insight. If the setup looks good, click + Save Strategy to track it.
Buy a deep ITM long-dated call (LEAPS) to act as a stock proxy, then sell short-term OTM calls against it to collect premium each month.
Sell an OTM put and keep cash as collateral. You collect premium immediately. If assigned, you buy the stock at a discount (your strike minus premium).
Own 100 shares and sell a call against them. Collect premium and cap your upside at the strike. Best when you're willing to sell shares at a target price.
Think of it like a bank loan using options. Use 4 option legs to lock in a fixed interest rate β completely independent of where the stock goes. The payoff is mathematically guaranteed at expiry.
Sell Strangle: Sell an OTM call and OTM put simultaneously. Collect premium from both sides. Profit if the stock stays between your two strikes.
Sell Straddle: Sell an ATM call and ATM put. Higher premium than a strangle but narrower profit zone. Best when you expect very low volatility.
Bull Call Spread: Buy a lower strike call, sell a higher strike call. Reduces cost compared to a naked long call. Limited profit, limited risk.
Bear Put Spread: Buy a higher strike put, sell a lower strike put. Profits if the stock falls. Cheaper than a naked long put.
Iron Condor: Sell both a call spread and a put spread. Collect premium from both sides. Profit if the stock stays range-bound between your short strikes.
Greeks measure how an option's price changes in response to various factors. Understanding them helps you pick the right strikes and manage risk.
| Greek | Symbol | What it measures | Good target |
|---|---|---|---|
| Delta | Ξ | How much the option price moves per $1 move in the stock. Delta of 0.70 means if stock goes up $1, option gains $0.70. | LEAPS: 0.70β0.90 Short call: 0.25β0.35 Sell put: 0.20β0.35 |
| Theta | Ξ | How much value the option loses per day due to time decay. When you sell options, theta works in your favor β you collect this daily. | Short options: higher theta = more daily income |
| IV% | β | Implied Volatility β the market's expectation of future price movement. High IV = expensive options (good to sell). Low IV = cheap options (good to buy). | Sell options when IV is high. Buy LEAPS when IV is low. |
| Gamma | Ξ | How fast delta changes as the stock moves. High gamma means your delta exposure changes quickly β relevant near expiry. | Keep gamma low on short options to avoid surprise moves |
| Vega | Ξ½ | How much the option price changes per 1% change in IV. Long options benefit from rising IV; short options suffer. | LEAPS have high vega β buy when IV is low |
StrikeDesk scores your PMCC setup out of 100 based on 4 factors, each worth 25 points:
| Factor | Points | What we check |
|---|---|---|
| LEAPS Delta | 25 | Delta >0.70 = 25pts Β· >0.60 = 18pts Β· >0.50 = 10pts Β· below = 5pts |
| Short Call Delta | 25 | Delta <0.30 = 25pts Β· <0.40 = 18pts Β· <0.50 = 10pts Β· above = 5pts |
| Premium Coverage | 25 | Short premium / LEAPS cost: >8% = 25pts Β· >5% = 18pts Β· >3% = 10pts |
| Net Debit | 25 | <$1,000 = 25pts Β· <$2,000 = 18pts Β· <$3,500 = 10pts Β· above = 5pts |
A+ (85β100): Excellent setup β all factors aligned perfectly.
A (75β84): Strong setup β minor adjustments could improve it.
B (65β74): Good setup β workable but room to improve.
C (50β64): Marginal β consider adjusting strikes or expiries.
D (below 50): Poor setup β do not enter without significant changes.
After analyzing any strategy, click + Save Strategy. Fill in your actual entry price and number of contracts. The strategy is saved to your account permanently.
Open the trade in your brokerage (Tastytrade, TD, Schwab etc). Come back to StrikeDesk and click Detail β Mark as Executed. Status changes to Executed.
Click β» Refresh P&L any time to fetch live prices and calculate your current profit or loss. Green = profit, Red = loss.
When you exit the position, click Detail β Mark as Closed and enter your closing price. Final P&L is locked in permanently.
Imagine you need $50,000 for 3 months. Normally you'd borrow from a bank at their interest rate. A box trade lets you borrow using options instead β at a rate you lock in upfront, with no risk of it changing.
A box uses 4 option legs together. No matter where the stock price goes β up, down, sideways β the value at expiry is always exactly the same: the difference between your two strike prices.
You pay less than the box is worth today. At expiry, it pays you the full value. The difference is your interest cost β fixed and known upfront.
Example: Pay $49,500 today, receive $50,000 at expiry = $500 interest for the period.
You collect more than the box is worth today. At expiry, you pay the full value. The difference is your interest earned.
Example: Collect $50,500 today, pay $50,000 at expiry = $500 interest earned.
A box is built from two spreads. When you buy a box:
| Leg | Action | Why |
|---|---|---|
| Call at K1 (lower strike) | Buy | Pay the ask price |
| Call at K2 (upper strike) | Sell | Receive the bid price |
| Put at K2 (upper strike) | Buy | Pay the ask price |
| Put at K1 (lower strike) | Sell | Receive the bid price |
This is the most important rule for box trades. Options come in two styles:
Can only be exercised AT expiry. The other party cannot exercise early. Your locked-in rate is guaranteed.
SPX, XSP, NDX, RUT, VIX
Can be exercised ANY time before expiry. The other party can exercise early, which breaks your spread and causes unexpected losses.
SPY, QQQ, AAPL, MSFT, and all individual stocks
StrikeDesk shows you the annualized rate vs the current T-Bill rate (4.5%). If the box rate is lower β just buy T-Bills. They are simpler and safer.
A box trade has 4 legs. At $0.65/contract that is $2.60 per contract minimum. For small boxes this can eliminate all profit. StrikeDesk shows the commission estimate in the results.
A $50-wide spread (e.g. K1=5000, K2=5050) has more profit potential than a $10-wide spread after commissions. Wider spreads = more absolute dollar gain.
SPX has tight spreads and deep liquidity. Wide bid/ask spreads on illiquid options will make the box unprofitable even if the math looks good.
The ticker bar at the top lets you instantly switch between tickers without typing. Click any chip and StrikeDesk automatically loads that ticker for whatever tab you're on.
π Mag 7: Apple, Microsoft, Google, Amazon, Nvidia, Meta, Tesla
π ETFs: QQQ, SPY, IWM, GLD, TLT, VIX
π S&P 500: 60 top S&P 500 stocks β MAG7 not duplicated. Use βΉ βΊ arrows to page through (shows pg 1/7)
π My Tickers: Your personal list β requires account. Click + Add to add any ticker. Use βΉ βΊ arrows if you have more than 5. Click Γ to remove. Saved per account across all devices.