Before you put the trade on: name the structure, compute max profit / max loss / break-evens, read the Greeks and IV-rank context, get an honest PoP with the "PoP ≠ EV" caveat, and a sized, managed plan — credit spreads, iron condors, long premium, covered calls, and short strangles included.
Works with: Claude Code · OpenAI Codex · Cursor · GitHub Copilot · Gemini CLI · 26+ tools that support portable agent skills.
Clone the skill into your agent's skills directory:
# Claude Code
git clone https://github.com/Viprasol-Tech/options-strategy-analyzer \
~/.claude/skills/options-strategy-analyzer
# OpenAI Codex
git clone https://github.com/Viprasol-Tech/options-strategy-analyzer \
~/.codex/skills/options-strategy-analyzer
# Cursor / Gemini CLI / other tools — clone anywhere your tool loads skills from, e.g.
git clone https://github.com/Viprasol-Tech/options-strategy-analyzer \
~/.config/skills/options-strategy-analyzerThe skill is a single self-contained skill.md (plus examples) — no
dependencies, no install step, nothing to build.
Paste a trade idea (or a view) and ask:
Is this a good trade? — SPY 30-DTE iron condor, 470/475/525/530, $1.40 credit, IV rank 35.
The skill will scope the trade, pick or confirm the structure against your view, compute the closed-form math (max profit / max loss / break-evens / R:R), report the net Greeks (Δ, Γ, Θ, ν), apply the IV-rank heuristic, give an honest PoP with the PoP-vs-EV caveat, run the risk-management and liquidity checks, and return a verdict banner (✅ / 🟡 / 🟠 / ⛔) with a trade-management plan.
Most losing options trades aren't bad analysis of the underlying — they're a structure mismatch (long premium in a 70 IV-rank market, short premium in a 20 IV-rank market), a size mismatch (a 5%-of-account-max-loss trade dressed up as a "small" position), an assignment / liquidity surprise the trader never priced in, or a probability illusion (a 90% PoP credit spread whose single loss eats 9 winners). The defense is a consistent pre-trade checklist — name the structure precisely, do the closed-form math, read the Greeks and IV rank, estimate PoP honestly, and run the sizing and liquidity gates. This skill encodes that checklist so your agent runs it the same way every time.
- Scopes the trade — underlying, account size, directional view, volatility view, event calendar, DTE preference, and any existing legs.
- Picks the structure against the Direction × Volatility matrix, marking defined vs undefined risk and giving one-line best/worst-when notes for each candidate.
- Computes the math in closed form — net debit / credit, max profit, max loss, break-even(s), R:R, and width for spreads. Formulas shown, numbers plugged in.
- Reports the Greeks at entry — net Δ, Γ, Θ (per day), ν (per 1 IV point), with the long-vs-short premium trade-off spelled out.
- Applies IV context — IV rank / percentile heuristic (sell > 50, buy < 30), skew, term structure for calendars.
- Estimates PoP honestly — delta-based PoP with the explicit "premium-implied, not edge" caveat; high PoP ≠ positive EV.
- Enforces risk management — position size as % account, 25–50% profit target, 21-DTE management rule, assignment/ex-div risk, liquidity thresholds, and margin for undefined-risk structures.
- Runs the red-flags scan — low-IV short premium, high-IV long premium, naked short calls without thesis, event-in-window, oversizing, illiquid options, high-PoP / low-EV mismatch.
- Outputs a verdict (✅ Recommended / 🟡 Acceptable / 🟠 Reconsider / ⛔ Avoid) + math table + Greeks table + IV context + management plan + disclaimer.
- 9 strategy structures with closed-form math — long call, long put, bull-put credit spread, bear-call credit spread, iron condor, iron butterfly, covered call, cash-secured put, short strangle (and the broken-wing condor case flagged).
- Direction × Volatility selection matrix — the right structure for the right view, defined-vs-undefined risk marked.
- Greeks at entry — per-leg Δ + net position Δ/Γ/Θ/ν with sign and rough magnitude.
- IV-rank heuristic — sell premium when IVR > 50, buy when < 30; skew and term-structure notes when they matter.
- PoP estimator with the EV caveat —
1 − |Δ_short|for short premium,1 − max_loss/widthfor credit spreads, both estimates reported when they diverge. - Risk-management plan — 1–2% account-max-loss sizing, 25–50% profit target, 21-DTE management, assignment/ex-div risk, liquidity threshold.
| Long Vol (buy premium) | Short Vol (sell premium) | |
|---|---|---|
| Bullish | Long call · Bull-call debit spread | Cash-secured put · Bull-put credit spread · Covered call |
| Bearish | Long put · Bear-put debit spread | Bear-call credit spread |
| Neutral | Long straddle/strangle · Calendar | Short strangle · Iron condor · Iron butterfly |
Pick the column from your IV view, the row from your directional view, then mark defined-vs-undefined risk before doing any math.
See full worked memos in examples/:
- Iron condor on SPY — 30-DTE 470/475/525/530 iron condor for $1.40 credit, IV rank 35 → 🟡 Acceptable with caveats.
- Bull-put credit spread — 45-DTE 95/90 bull-put spread for $1.20 credit, IV rank 62, $25k account → ✅ Recommended.
This skill provides educational analysis only — not financial, legal, or investment advice, and not a guarantee of any outcome. Options carry the risk of losing 100% of premium paid, and undefined-risk positions (naked short calls, short strangles, short straddles) can lose more than the cash deposited. Past win rates do not predict future results. The skill reasons only over the information you provide; it cannot see live quotes, the live chain, or live IV. Verify every number in your broker before entering a trade, and consult a qualified, licensed financial professional for personal investment decisions. Not affiliated with or endorsed by Anthropic.
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