Options Trading Practice Lab
Fifteen dedicated lesson exercises for contracts, option values, Greeks, assignment, and strategy payoffs.
Choose a lesson, change the example inputs, and calculate. Every exercise links back to its lesson. Standard examples use a 100 premium multiplier and, for physical-share examples, a 100-share deliverable. Actual contracts can differ.
Payoff charts show simplified expiration economics, not a forecast or pre-expiration market price. Sensitivity exercises are local approximations. Nothing is sent to a broker, and inputs clear on reload.
01. Options Trading for Beginners
Understand calls, puts, premium units, contract rights, obligations, and the account transitions every beginner should identify.
02. How to Read an Option Chain
Read option-chain identity and quotes, calculate spread friction, and distinguish volume, open interest, orders, and fills.
03. Buying a Call Option
Calculate a long call’s premium, expiration payoff, breakeven, full-loss scenario, and possible exercise-related stock purchase.
04. Buying a Put Option
Calculate a long put’s expiration economics and distinguish a standalone put, resale, exercise, and stock protection.
05. Intrinsic Value, Extrinsic Value, and Moneyness
Separate intrinsic value, residual extrinsic value, moneyness, premium, and trade profit using worked call and put examples.
06. Options Greeks
Read delta, gamma, theta, and vega with explicit signs, units, position quantities, and local-approximation limits.
07. Options Time Value and Theta
Understand option time value, changing theta, expiration selection, review deadlines, and the difference between timing and payoff.
08. Implied Volatility and Options Events
Explore implied volatility, event timing, competing premium influences, and why a favorable stock move may not produce an option gain.
09. Options Exercise, Assignment, and Expiration
Trace exercise and assignment into shares and strike cash, with expiration procedures and unmatched spread-leg scenarios.
10. Covered Calls
Evaluate covered-call stock downside, capped upside, assignment, buybacks, and the full combined-position result.
11. Cash-Secured Puts
Calculate cash-secured-put premium, strike purchase obligations, downside, assignment, and the acquired-stock ledger.
12. Protective Puts
Calculate a matched protective put’s expiration floor, premium cost, upside, quantity matching, and renewal decisions.
13. Debit Spreads
Compare bull call and bear put debit spreads using signed legs, width, debit, expiration breakeven, and assignment scenarios.
14. Credit Spreads
Compare bull put and bear call credit spreads using credit, strike width, expiration regions, closing costs, and operational risks.
15. Options Position Sizing and Journaling
Size a long-option premium exercise and build a complete journal for legs, fills, charges, stock transitions, and sample limits.
Educational calculations only. No live market data, contract selection, broker connection, real exercise, or account approval. Models omit product-specific details and operational events stated in each result. Options can involve loss of the entire premium or substantially greater obligations, depending on the position.