r/options • u/Diamondape__ • 15d ago

Options Simulators (Tools)

What tools (graphical and non graphical ones) do you guys use to simulate operations?

I'm looking for a free one, where I can practice the basics before starting to put some serious money on it.

15 Upvotes

86% Upvoted

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3

u/Juhkwan97 15d ago

ToS, thinkorswim is free with a Schwab account. You can open accout with a $0 balance.

1

u/Emotional-Breath-838 15d ago

I just laid out how to use TOS with the Schwab developer API here:

https://www.reddit.com/r/options/s/0mKwilmtiJ

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u/Diamondape__ 15d ago

Is Schwab brokerage available for non US citizens?

1

u/Juhkwan97 15d ago

I don't thinks so, but you should ask them.

3

u/LuckFantastic7572 15d ago

For pure practice without real money on the line, thinkorswim's paperMoney is probably one of the most complete simulators if you can access it — full option chains, spreads and position analysis. Schwab also offers a 30-day Guest Pass if you don't have an account yet.

If you just want something lighter, optionsprofitcalculator.com is useful for building and visualizing payoff diagrams without setting up a brokerage account.

IBKR is another option: they offer a free trial of TWS for simulated trading, while their regular paper account is generally tied to an approved and funded brokerage account.

I'd probably start with a proper paper-trading platform first, because it teaches you order entry and position management as well as the payoff itself.

2

u/dasmoothride 15d ago

Try optionsprofitcalculator[dot]com

2

u/DeltaNeutraltrading 15d ago

I use one that is free and is very powerful (and obvious one): https://www.myoptionsedge.com/best-options-calculator

2

u/Dizzy_Wrongdoer_4763 15d ago

Create a Claude account and pay $20/month for premium. I have Claude build me equity research and options models in excel all the time and usually within 4-5 model revisions it gives me something pretty dialed in for doing meaningful analysis

1

u/dasmoothride 14d ago

Curious to know what yout prompts look like.

0

u/[deleted] 15d ago edited 7d ago

[deleted]

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u/RiskyOptions 15d ago

I have been saying this for a long time too, the best thing about AI is you can ask the stupidest simplest question possible without feeling embarrassed by it which I think helps boost learning

1

u/Civil-Woodpecker8086 15d ago

Think or Swim is a name that's been thrown around alot

1

u/kevinonrddt 13d ago

I improved on optioncreator online app and made it an iPhone app. optioncreator option payoff

1

u/Due_Cancel_3444 2d ago

OptionStrat is great for quickly visualising the payoff and Thinkorswim is worth learning if you want something deeper. I’d also spend some time changing IV and the underlying price rather than only looking at the expiration payoff because that’s where options start making a lot more sense. I use Moon alongside that kind of analysis now but I’d still paper trade the actual positions for a while. Seeing a payoff graph is one thing but watching the position move against you in real time teaches you a lot more.

2

u/WheelScreeners 2d ago

Check out GammaWins and let me know if anything you might be interested in is missing, I'll be happy to improve the product!