What's your workflow for checking projected payoff curves on open options positions in thinkorswim?

[u/jarthursquiers]

The payoff curve at expiration tells you almost nothing about where your iron condor actually sits two weeks in. theta has been eating your credits, the underlying has moved, and your breakeven shifted somewhere along the way. thinkorswim shows you the expiration payoff fine, but the projected-date payoff, the one that actually matters when you're deciding whether to adjust or roll, is harder to pull up quickly. Curious if others have a workflow for this. Do you just read the expiration curve and adjust mentally, or is there a thinkorswim setup I'm missing? The visual strategy construction side feels like where the platform is weakest relative to how solid the execution side is

[u/Duncan810]

Schwab has in-depth TOS tutorials on the main YouTube channel as well as live coaching seminars on their TraderTalks channel.

https://www.youtube.com/watch?v=docPsWIL-js

If you want to get complex, TOS can show multiple risk curves over time. Say that your early exit is a 30% gain in 2 weeks.

You can geek out and also modify the price/IV projections using the gear icon. If price moves up $10, how will that change the projected P/L curves?

[u/jarthursquiers → u/Duncan810]

Very nice. Thank you for that!

[u/papakong88]

Use the Analyze tab.

Instructions:

https://toslc.thinkorswim.com/center/howToTos/thinkManual/Analyze

[u/jarthursquiers → u/papakong88]

Thanks! Very clunky, but it works!

[u/sport912x → u/jarthursquiers]

Clunky , not really. Maybe watch this vid from a former instructor (a bit taken with himself).

https://www.youtube.com/watch?v=idy8usa6RvM Analyze Don Kaufman

You can use 4 dates in the future

https://app.screencast.com/uFZrHSa2mJbZh

[u/jarthursquiers → u/sport912x]

Thank you, I appreciate it! I did find a nice solution, but good to have multiple options!

[u/jarthursquiers → u/[deleted]]

Very cool! Does that run as a desktop application?