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, and the standalone Qurxa site is now live at Qurxa.com.

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.

An option scenario calculator helps estimate how a specific option could react if the underlying stock or ETF moves by a chosen amount. Instead of only showing a static quote, it lets you change the stock move, time horizon, Greeks, and implied-volatility assumptions.

OptionsPeek is built around that scenario workflow. It is useful for planning and comparison, but every output should still be treated as an estimate rather than a guaranteed market price.

Yes, but the result should be treated as a planning estimate. Before the regular session opens, the stock may already be moving while the option quote is stale, wide, or unavailable.

OptionsPeek can use the premarket stock move as the scenario input, then estimate how the contract could react under the assumptions you provide. After the option chain starts trading normally, compare the estimate with the live bid/ask, spread, volume, and updated Greeks.

The chart plots stock price on the horizontal axis and estimated option value on the vertical axis. It lets you inspect nearby stock outcomes for the same option contract instead of looking at only one target move.

Open Explore charts from your scenario to use the dedicated page. Stock price selects a point on the curve; IV and elapsed days adjust the assumptions behind that curve. The preview updates locally, and Recalculate submits the current assumptions for a new estimate.

Explore stock price, IV and time

The main page has a stock-price chart and slider below Details & assumptions. For the advanced chart with stock price, IV and time controls, choose Explore charts beside the estimate or in the product menu. Your current scenario carries into that view. Back to scenario returns you to the calculator with your working inputs.

Stock price, implied volatility and elapsed days control one shared chart. Use the sliders for quick changes or type exact values. The days control follows the contract expiration, and At expiration selects the supported remaining horizon.

Explore stock price, IV and time

See what changed in chart exploration

Moving a slider updates the local chart preview using the scenario inputs already available. It does not fetch new market data, submit an estimate request, or save your work.

Choose Recalculate to submit the current assumptions for a new estimate. Choose Save to keep the setup in the selected Browser or Account location. The page distinguishes the current preview from the last submitted estimate.

See what changed in chart exploration

Browser saves belong to this browser and site. Clearing browser data removes them, and private browsing may not retain them. Account saves are stored with your account and can be loaded on other devices where you sign in to the same account.

When signed in, open Saved scenarios and check Saved scenarios location. Choose Browser or Account for the library you want to use. Saving is an explicit action; editing a field does not continuously save every change.

Learn how browser saves work

Read about account saves and browser imports

In the Account view of Saved scenarios, choose Check browser saves for import and review the import prompt. Signing in alone does not move your browser saves.

After the account confirms an import, unchanged browser originals are removed. Repeating an import of unchanged records does not create duplicate account copies. Failed imports and records edited during the operation remain in the browser. Browser Undo is available for confirmed cleanup.

Read about account saves and browser imports

Loading restores the saved inputs, units, Profit / Loss assumptions and market timestamp. It checks ticker availability while preserving the saved values. It does not automatically fetch replacement quotes or submit a new calculation.

Review the expiration and market-data timestamp, update the inputs or fetch current contract values when appropriate, then calculate. Expired scenarios cannot be loaded. A saved scenario holds hypothetical assumptions, not a guarantee of a future option price.

Read about restoring saved assumptions

When you have unsaved inputs, signing out offers Save and sign out, Discard and sign out, or Keep working. Save and sign out waits for acknowledgment; if saving fails, your session and inputs remain available.

The save uses your selected location. Choose Account when you want to load it on other signed-in devices, or Browser to keep it here. Keep working returns to your inputs.

Read about account saves and browser imports

The Greeks Breakdown shows the estimated contribution from Delta, Gamma, Vega, and Theta so the option estimate is not just one unexplained number. Delta usually shows the first directional effect, while Gamma, Vega, and Theta explain how the result bends with stock movement, IV changes, and time decay.

Use the bar lengths to see which forces matter most in the current scenario. If Vega or Theta is doing a lot of the work, the estimate may depend heavily on volatility or time assumptions instead of stock direction alone.

The Profit / Breakeven view is a lightweight option profit calculator inside OptionsPeek, available from the estimate pop-up and as its own expanded profit/loss calculator page. It answers a simple planning question: if you owned this call or put at an entry option price, and the stock moved to a selected target price, what would the estimated profit or loss be?

The contract line confirms the ticker, strike, side, and expiration being checked. The Contracts field controls position size, and the Entry option price is the premium per share you are assuming you paid. One standard listed option contract usually controls 100 shares, so OptionsPeek multiplies entry price by 100 and by the number of contracts.

The Target stock price control is the stock price you want to test. You can type a value or move the slider, and the breakeven marker appears on that slider when it falls inside the visible range.

Premium paid at entry is the estimated cost of the position: entry option price times 100 times contracts. Breakeven at expiration is strike plus entry price for calls, or strike minus entry price for puts.

Before expiration, OptionsPeek estimates the option price at the selected stock price with the same scenario timing, IV assumptions, Greeks, and pricing method used by the main estimate and price chart. It multiplies that estimated option price by 100 and by contracts to show estimated position value, then subtracts premium paid to show scenario P/L in dollars and percent.

If the scenario horizon reaches expiration, the option has no remaining time value and the calculator uses intrinsic value. The card labels this expiration case explicitly instead of applying expiration payoff math to an earlier scenario date.

Expiration breakeven and expiration probability of profit answer expiration questions. Estimated position value and estimated P/L answer what the position could look like on the selected scenario date. The model remains an educational estimate, not a live executable option quote; spreads, liquidity, IV changes, and market conditions can make actual prices differ.

OptionsPeek estimates probability of profit by first calculating the option position's breakeven at expiration. For a long call, breakeven is the strike plus the premium paid. For a long put, breakeven is the strike minus the premium paid.

It then uses the current stock price, implied volatility, time to expiration, risk-free rate, and dividend-yield assumption in a lognormal probability model related to Black-Scholes. A long call is profitable at expiration above its breakeven; a long put is profitable below its breakeven.

The contract card and expanded P/L calculator spell out expiration probability of profit and use the same current entry premium by default. The calculation updates automatically when the required contract inputs are available and when the editable entry premium changes.

Probability of profit is a model estimate, not a forecast or guarantee. Implied volatility can differ from realized volatility, while dividends, rates, early exercise, liquidity, spreads, and event risk can make actual outcomes differ. Delta is sometimes used as a rough probability shortcut, but OptionsPeek calculates POP from the premium-adjusted breakeven instead.

Qurxa can help extract scenario details from screenshot text when those details are visible enough to recognize. It looks for fields like ticker, call or put, strike, expiration, stock price, option price, Greeks, and implied volatility.

Screenshots can be cropped, stale, blurry, or incomplete, so review the populated fields before calculating. In OptionsPeek, manual corrections remain authoritative.

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.

OptionsPeek uses an adaptive Black-Scholes-style scenario method. Local scenarios use the entered or market Greeks as a transparent approximation. Larger moves, material time horizons, or estimates that would hit the zero-price floor trigger a full reprice when the required inputs are available.

When a current option price is present, it remains the starting anchor. The model applies a relative reprice at the target stock price, remaining time, and selected IV instead of silently replacing the user's value.

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.

Current option price gives OptionsPeek a cleaner anchor for the before-versus-after estimate. Without it, the app may need to lean on fallback pricing assumptions to infer the starting option value.

Qurxa can sometimes detect that value from your text or screenshots. You can review or override it in Trade Details before calculating.

Hold IV constant means you are saying implied volatility does not change during the scenario. Use target IV means you want OptionsPeek to model a specific volatility level after the move, which lets Vega actively change the result.

That choice matters because a trader can be right on direction and still get surprised by volatility repricing. Current IV, the IV mode, and Target IV are grouped together under IV Inputs so you can see how they interact.

Days tells OptionsPeek how long the scenario has to play out. A one-day move and a five-day move can produce very different results because Theta has more time to work and Gamma exposure can evolve along the way.

Blank Days means the scenario happens now, with no time-decay contribution. Enter a day count when the question is about a future point so OptionsPeek can apply the horizon explicitly and use adaptive repricing when that horizon is material.

Most traders think about IV in percentage points, so Vega per 1% IV means the option's sensitivity is being interpreted one volatility point at a time. That usually feels more intuitive than Vega per 1.00 IV, which is a much larger unit.

OptionsPeek keeps both choices because some data sources and traders think in different units. IV Inputs lets you match the math to the way your contract data was quoted.

Greeks are local sensitivities, so a fixed-Greek estimate becomes less reliable when the stock move is large, the horizon consumes meaningful time to expiration, the contract is near expiration, or volatility changes sharply. The OIC's Understanding Options Greeks guide is a useful explanation of why Greeks are theoretical guideposts rather than fixed promises.

OptionsPeek now attempts model repricing in those situations and shows a notice in the Estimate Summary. If the required model inputs are unavailable, it keeps the fixed-Greek estimate visible but labels it as a rough sensitivity estimate that deserves extra caution.

The notice appears when holding the starting Greeks fixed could create a misleading result, such as a false 100% loss caused by the zero-price floor. It can also appear for a large stock move or a time horizon long enough for the Greeks to change materially.

The Estimate Summary uses the repriced option value for the final change. The Greeks Breakdown remains visible as an educational view of the starting sensitivities, but those bars are not expected to add up to the repriced result.

Yes. OptionsPeek is built around that workflow: choose the contract, set the base stock price, enter a dollar or percent stock move, then calculate an estimated option change and new option price.

The result is still an estimate, not pricing truth. Review the Greeks Breakdown, chart, IV assumptions, and Profit / Breakeven view before using the number as a planning anchor.

Yes. Curated ticker pages can start an NVDA, TSLA, SPY, AAPL, AMD, QQQ, or similar scenario, and the option contract scenario card can resolve current contract details when market data is available.

Because active names can move quickly, confirm the expiration, strike, base price, Greeks, and option price before calculating.

Start with the call contract, choose the stock move direction and amount, then calculate. Delta gives the first directional push, Gamma can add curvature, and Vega or Theta can change the result if IV or time assumptions matter.

That is why the Estimate Summary and Greeks Breakdown should be read together. The summary gives the fast estimate, and the breakdown shows what drove it.

Explore includes option estimates, stock-price charts, IV and time adjustments, profit/loss tools, manual entry, Qurxa text parsing and screenshot import. An account can keep five active cloud scenarios; expired scenarios move to history.

Plus adds more active cloud scenarios, completed estimate snapshots, IV Crush comparisons and included scenario and P&L reports. More Plus features are planned. Open Menu, then plans, for current monthly pricing and availability. Pro is not available to purchase.

A saved scenario keeps editable inputs so you can reopen and change the assumptions. A Plus saved estimate keeps a snapshot of completed assumptions and estimated option value for later review.

Reviewing a plan or completing checkout does not automatically save an estimate or create a report. Return to the scenario and choose what to save. These are hypothetical analyses, not records of executed trades.

The Plus IV Crush comparison shows unchanged IV and reduced IV on the same stock-price chart at the same selected time horizon. Volatility-drop presets help explore how falling implied volatility could offset a favorable stock move.

The free Explore controls still let you change stock price, IV and time. All curves are assumption-based estimates; an IV preset does not predict an event or an actual future volatility level.

An active Plus subscription includes generating, viewing and downloading scenario and P&L reports without using purchased report credits. Explore accounts can use report credits; review the report offer for current purchase availability and pricing.

One report credit is used only when a report has been generated successfully and is ready to view. The report is saved to the account automatically, and downloading is optional. Existing credits do not expire.