How to Use Opzun

Type any stock or index symbol in the ticker field (e.g., SPY, AAPL, SPX, SOFI). The current price and options chain will load automatically from CBOE.

Select an expiration date from the dropdown. Available expirations are pulled from the live options chain. The chain data updates when you switch expirations.

Click one of the strategy buttons — Iron Condor, Iron Butterfly, Bull Call, Bear Put, Straddle, Strangle, Long Call, or Long Put. Legs populate instantly with real market premiums from CBOE.

Drag the leg handles (colored pills below the chart) left/right to move strikes. Drag the spot price line to simulate price movement. Everything updates in real-time — the P&L curve, metrics, and premiums.

Time slider — Slide from “Now” to “Expiry” to see how theta decay affects your position over time. The theoretical curve (solid) morphs toward the expiry curve (dashed).

IV slider — Adjust implied volatility to see how vol expansion or contraction impacts your P&L. Higher IV widens the curve, lower IV flattens it.

The sidebar (or below the chart on mobile) shows key metrics: Max Profit, Max Loss, Net Credit/Debit, Risk:Reward ratio, Greeks (Delta, Gamma, Theta, Vega), Probability of Profit, and Breakeven points.

Use the leg editor below the chart to adjust individual leg parameters — change type (Call/Put), side (Buy/Sell), strike, premium, or quantity. Premiums auto-estimate from Black-Scholes but you can override with your actual fill prices.

Click Share to generate a Zun — a shareable strategy card with a short link (e.g., opzun.com/r/abc123). Share it on x.com, Reddit, Discord, or anywhere. The link generates a preview card image automatically.

Anyone who opens the link sees your exact strategy with the interactive chart. They can click Copy & Customize to remix it into their own Zun.