How many contracts? Set your account, your max loss and your stop, and the planner sizes it for you, for any ticker and expiry.
Free, no login. Educational tool, not financial advice. Quotes indicative / delayed.
Divide the dollars you are willing to lose by the loss per contract at your stop. Example: $500 risk, $2.00 premium, −40% stop = $0.80 × 100 = $80 per contract, so 6 contracts. The planner does this for you and caps it at your account cash.
Many day traders want at least 1.5: you aim to make 1.5x what you risk. Below that, you need a high win rate to come out ahead. The planner flags any plan under 1.5.
The planner re-prices the option at your level with Black-Scholes, using the contract’s implied volatility and the time left, anchored to the real premium. It is an estimate; fills and spreads can differ.
The move the options market is pricing by expiry, read from the at-the-money straddle (or implied volatility). If your target is far beyond it, the trade needs an unusually big day.
No. Quotes are free, indicative and delayed at least 15 minutes. Always check your broker before trading. This is an educational tool, not financial advice.