Options explained in plain English

Qurxa is the engine inside OptionsPeek that reads scenario text, detects contract details, and helps turn plain-English option questions into editable inputs. It is pronounced KURK-sa.

You will see Qurxa show up in the parser flow because that is where it earns trust: reading what you typed, what you spoke, or what a screenshot contained, then handing you something you can refine before calculating.

Delta is how much your option tends to move when the stock moves $1. A 0.50 delta call tends to gain about $0.50 if the stock rises $1. A -0.50 delta put tends to gain about $0.50 if the stock falls $1.

In OptionsPeek, Delta is the first force in the estimate. It is the quickest way to understand why an option moved a certain amount before Gamma, Theta, or Vega start bending the result.

Gamma is how fast Delta changes. High Gamma means your option's sensitivity is shifting fast while the stock moves, which is why at-the-money weeklies can suddenly feel explosive.

In OptionsPeek, Gamma is shown separately in the Greeks Breakdown so you can see when the move was not just Delta doing the work.

Theta is time decay. If you are long options, time is usually working against you. If you are short options, Theta is often the force you want on your side.

OptionsPeek treats Theta as a scenario-day effect, which helps explain why a one-day hold and a five-day hold can feel very different even if the stock move is the same.

Vega measures how much the option changes when implied volatility changes. If IV rises, long options often benefit. If IV gets crushed, buyers can be right on direction and still lose money.

That is why OptionsPeek lets you hold IV constant or model a target IV. The point is to show that stock direction is not the only driver.

Because the Greeks do not work in isolation. You might have stock movement helping you while time decay hurts you, or IV crush offsets the directional win.

This is one of the main reasons the Estimate Summary and Greeks Breakdown exist together in OptionsPeek. The summary gives the answer quickly, and the breakdown shows which forces were helping or fighting you.

OptionsPeek estimates how an option might react to a stock move under the assumptions you give it: stock price, move size, Delta, Gamma, Theta, Vega, scenario days, and implied volatility settings.

It is built for scenario questions like, "If TSLA goes up 10% tomorrow, what could this call do?" It is not trying to tell you the one true market price.

Because no simple options model knows the future path of the stock, the exact volatility repricing, order flow, spreads, or event risk. A scenario estimate is useful, but it is still an estimate.

That wording is there on purpose. OptionsPeek is meant to improve thinking and reduce guesswork, not pretend uncertainty has disappeared.

It is best described as a Black-Scholes-style scenario calculator. Black-Scholes gives a useful baseline for plain-vanilla option thinking, especially when you need fallback Greeks or a fallback model price.

OptionsPeek then layers the scenario framing on top of that so you can model stock moves, IV assumptions, and time decay in a way that feels closer to the question traders are actually asking.

Because some estimates need an anchor. A percent stock move needs the current stock price. A percent option move needs the current option price or a fallback model price. IV assumptions matter when you want Vega to participate realistically.

If a required input is missing, OptionsPeek tries to tell you clearly instead of pretending the estimate is more certain than it is.

They get shakier when the move is large, the time frame is short, or the contract is near expiration. In those situations Gamma can change quickly and volatility can reprice hard.

That is why OptionsPeek warns you on large moves. The estimate can still be useful, but it deserves more skepticism.