Model a position in the Position Modeler

How to build a structure in the Position Modeler: the strike strip, payoff curve and date slider, breakevens, probability of profit and stress views.

The Position Modeler is the modeling canvas. In Sim mode (the default) you build hypothetical positions from scratch; everything reprices live as you edit. Type an underlying in the symbol box (with autocomplete) to start, and each symbol keeps its own clean canvas.

Adding legs

  • Click anywhere on the strike ruler to drop a leg at that strike: Buy or Sell, Call or Put, or a same-strike calendar rung in one click.
  • Or open Add + for the catalog of 58 built-in structures, organized in four tiers from Basic to Expert. Hovering a strategy shows a mini payoff preview; clicking places it around the current spot.
  • The expirations bar sets the default expiry for new legs, so click a date pill to select it. Clicking a pill that's in use arms it for bulk re-dating: click another date and every leg on the armed date moves there.

Editing legs

  • Chips show your legs on the ruler: calls green, puts red, longs above the line, shorts below. Drag a chip to move its strike; the curve reprices live as it slides.
  • Hover a chip for its ± steppers. Quantity steps through zero, so stepping a −1 leg up flips it long instead of deleting it.
  • Click a chip to pin its leg card: model price, bid/ask, implied volatility, Delta, Gamma, Theta, Vega and days to expiry, plus editing controls for exact quantity and strike (Enter commits), expiry, a Call/Put switch, Mirror (adds the opposite leg), Hide (keeps the leg on the strip but excludes it from the curves) and Remove.
  • Reset clears the legs you're modeling. Ctrl+Z / Ctrl+Y undo and redo edits.

Reading the chart

  • The main curve is the At-Expiry payoff; the T+N slider adds a curve N days ahead of today.
  • Date curves: pick calendar dates (up to 8) to overlay the position's value on those dates, or drag the scrub slider left from expiry to preview any date and pin the ones you want to keep.
  • The stats line shows P&L, max profit, max loss, probability of profit, net debit, breakevens and the net Delta, Gamma, Theta and Vega of the whole structure.
  • Switch Metric to draw the curve in Delta, Gamma, Theta or Vega instead of P&L. The ±1 standard deviation band marks the market-implied expected move.
  • Shift implied volatility with the IV slider (whole book) or per expiration when the book spans several expiries.

Beyond the curve

  • Spot × Vol and Spot × Time tabs render P&L heatmaps across two dimensions at once; the Stress tab runs a scenario table with the position's value and greeks under each shock.
  • Save template stores the current leg shape (deltas and days to expiry) under a name; reload it from the Add + menu under From Templates onto any later day's chain.
  • Save trade books the simulated structure to your paper account at live prices; the Trades & Templates page then tracks what it makes, with P&L attribution and no money at risk.
  • The Screenshot button exports the chart as a PNG (choose a save folder in Settings → Screenshots). How the strike bar pans, by mouse drag, scroll wheel or both, is also set in Settings.

Keep exploring