01 / Overview
Key Features
Full Black-Scholes Engine
Complete BS model for option pricing and reverse-solving for stock prices at each TP and SL. More accurate than Delta-only estimation.
Auto-Fetch Live Price
Constructs the TradingView options ticker and fetches the real-time option price. Calculates IV via bisection automatically.
4 Take-Profit Levels
TP1–TP4 as percentage gains. Each line shows: profit %, dollar gain per share, option price at target, and required stock price.
2 Stop-Loss Levels
SL1 (hard stop, solid red) and optional SL2 (warning stop, orange). Two-tier stop management.
Entry Lock
Two lock mechanisms: checkbox that captures price at the moment you check it, and manual stock entry field. All calculations anchored to your fill.
Estimate Level
Enter any stock price to see what the option will be worth there using full BS pricing. Model 'what if' scenarios before entry.
R:R Table Row
Automatically calculates Risk:Reward for all 4 TPs vs SL1. Shown in aqua in the table.
6 Built-In Alerts
Fires on TP1/TP2/TP3/TP4 and SL1/SL2 when stock price crosses the calculated level.
02 / Concept
How It Works
01
Establish Base Option Price
If Auto-Fetch is ON and the ticker resolves, the live option price is used. If Auto-Fetch fails, Black-Scholes is calculated using the current stock price and your Manual IV %.
02
Apply Entry Lock
If Lock checkbox is checked OR a Manual Stock Buy-In Price is entered, all calculations anchor to that stock price. TP/SL lines reflect where the stock needs to go FROM your entry — not from the current price.
03
Calculate TP and SL Option Prices
TP option price = Base Price × (1 + TP%). SL option price = Base Price × (1 − SL%). These are the option premium values you are targeting.
04
Reverse-Solve for Stock Price
For each target option price, Newton-Raphson iteration with BS pricing finds the exact underlying stock price that produces that option value. This is the stock price level drawn on your chart.
05
IV Calculation — Bisection Method
When Auto-Fetch succeeds, IV is calculated via 100-iteration bisection search. Range: 0.001% to 2500%. Handles deep OTM and short-DTE options with extreme IV accurately.
→ Options MultiplierAll dollar gain/loss amounts in the table are per share. Multiply by 100 for the actual dollar value per contract. Example: $1.07 gain per share = $107 per contract.
03 / Reference
Settings
⚡ Trade Setup
| Setting | Default | Range | Description |
|---|---|---|---|
| Expiry | Manual | Manual/0DTE/1DTE/Next Fri/2x Fri/Monthly | Quick expiry presets. Set to Manual to use the calendar picker. |
| Expiry Date | 📅 | Date picker | Active when Expiry = Manual. Only the date is used. |
| Contract | Calls | Calls / Puts | Calls for bullish, Puts for bearish. |
| Strike ± | 0.0 | Any | Auto ON: offset from ATM (0=ATM, +3=3 above). Auto OFF: exact strike price. |
| Auto Strike | ON | ON / OFF | Auto-snaps to nearest listed strike. Strike field becomes an offset when ON. |
| 📌 Lock | OFF | ON / OFF | Check the moment you fill. Captures live stock price as entry reference. |
| Entry $ | 0.00 | Any | Type exact fill price to override Lock checkbox. Set 0 to use live price. |
| Opt $ | 0.00 | Any | Manual option entry price. Set > 0 to override Auto-Fetch. |
| IV % | 50.0 | 0+ | Fallback IV for BS pricing when Auto-Fetch fails. |
| Auto-Fetch | ON | ON / OFF | Fetches live option price from TradingView. Calculates IV via bisection. |
Profit Targets
| Setting | Default | Range | Description |
|---|---|---|---|
| TP1 Show / % | ON / 20% | ON/OFF, % | First profit target. Default 20% gain on the option. |
| TP2 Show / % | ON / 50% | ON/OFF, % | Second target. Default 50%. |
| TP3 Show / % | ON / 100% | ON/OFF, % | Third target. Default 100% (2× the option price). |
| TP4 Show / % | ON / 200% | ON/OFF, % | Extended target. Default 200% (3× the option price). |
Stop Loss
| Setting | Default | Range | Description |
|---|---|---|---|
| SL1 Show / % | ON / 50% | ON/OFF, % | Primary stop loss. Default 50% loss. Drawn as solid red. |
| SL2 Show / % | OFF / 20% | ON/OFF, % | Warning stop. Default 20% loss. Drawn in orange. Disabled by default. |
Estimate Profit Level
| Setting | Default | Range | Description |
|---|---|---|---|
| Show Estimate | OFF | ON / OFF | Draws a line at a target stock price showing projected option value. |
| Stock Price to Estimate | 0.0 | Any | The stock price to model. Label shows estimated P&L and option price. |
Visual Settings
| Setting | Default | Range | Description |
|---|---|---|---|
| Show P/L Lines | ON | ON / OFF | Master toggle for all TP and SL lines. |
| Show Level Labels | ON | ON / OFF | Toggles text labels at the right end of each line. |
| Profit Line Color | Lime | Color | Color of all 4 TP lines. |
| SL1 Line Color | Red | Color | Color of the SL1 line. |
| SL2 Line Color | Orange | Color | Color of the SL2 line. |
| Line Style | Dashed | Solid / Dashed / Dotted | Style of TP lines. SL1 is always Solid. |
| TP Line Width | 1 | 1–4 | Thickness of TP lines. |
| SL Line Width | 2 | 1–4 | Default 2 — thicker for visual priority. |
04 / Reading
Reading the Table
Table Row Reference
| Setting | Default | Description |
|---|---|---|
| Contract | TICKER $STRIKE C/P · N DTE | The contract. SPY $580C · 21 DTE = SPY Call at $580 strike with 21 days to expiry. |
| Stock Entry | ■ Locked: $X.XX Live: $X.XX | Your entry reference vs current live price. Orange = locked/manual. Yellow = live. |
| Option Price | $X.XX ∆:X.XX Vol: X.Xk | Current option price, Delta, and volume in thousands. |
| TP1–TP4 | +20% $stock | $option | +$gain | Stock price needed, option value at target, dollar gain per share (×100 for per-contract). |
| SL 1 | 50% $stock | $option | -$loss | Stock price at which 50% option loss triggers. |
| Risk/Reward | X.XX • X.XX • X.XX • X.XX | R:R for TP1 • TP2 • TP3 • TP4 vs SL1. Values above 1.0 = reward exceeds risk. |
05 / Alerts
Built-In Alerts
TP1 Hit
Calls: crossover ↑ | Puts: crossunder ↓. Stock reaches the TP1 stock price level.
TP2 Hit
Calls: crossover ↑ | Puts: crossunder ↓. Stock reaches TP2.
TP3 Hit
Calls: crossover ↑ | Puts: crossunder ↓. Stock reaches TP3.
TP4 Hit
Calls: crossover ↑ | Puts: crossunder ↓. Stock reaches TP4.
Stop Loss 1 Hit
Calls: crossunder ↓ | Puts: crossover ↑. Stock crosses SL1 in the loss direction.
Stop Loss 2 Hit
Calls: crossunder ↓ | Puts: crossover ↑. Stock crosses SL2 in the loss direction.
06 / Best Practices
Pro Tips
Lock Entry the Moment You Fill
Strike and expiry first. The instant your order fills, type the stock price in Entry $ or check Lock. All TP/SL lines now reflect the required move from your actual entry.
Use 4 TPs for a Complete Exit Plan
TP1 at 20% = quick partial exit. TP2 at 50% = halfway home. TP3 at 100% = the double. TP4 at 200% = the home run. A professional exit strategy hits TP1 to reduce risk, TP2 for base profit, and lets TP3/TP4 ride.
Enable SL2 for a Two-Tier Stop
Set SL2 at 20% (warning) and SL1 at 50% (hard stop). When SL2 is hit, reassess. Is the trade still valid? SL1 is your absolute maximum loss. Two decision points force discipline.
Check R:R Before Buying
Before clicking buy, look at the R:R row in the table. If TP2 R:R is below 1.0, the setup doesn't justify the risk. Adjust TP or SL percentages until TP2 R:R is at least 1.0.
Use Estimate Level for Pre-Trade Modeling
Enter your target stock price in Estimate before buying. The label shows what the option will be worth if price reaches that level. If the estimated profit at the next resistance is only 15%, reconsider the setup.
IV Matters — Update When Auto-Fetch Fails
When Auto-Fetch fails, all calculations depend on Manual IV %. A 10% IV error shifts stock price targets by several dollars. Get the current IV from your broker's option chain.
07 / Use Cases
Who Uses This
| Setting | Scalp (0–3 DTE) | Swing (1–4 Week) | Position (1+ Month) |
|---|---|---|---|
| Auto-Fetch | ON | ON | ON |
| Manual IV % (backup) | 50–80% | 30–50% | 20–35% |
| Lock at Entry | Manual price field | Lock checkbox | Manual price field |
| TP1 % | 15% | 20% | 20% |
| TP2 % | 30% | 50% | 50% |
| TP3 % | 60% | 100% | 100% |
| TP4 % | 100% | 200% | 300% |
| SL1 % | 40% | 50% | 50% |
| SL2 | OFF | 20% ON | 25% ON |
| Show Estimate | OFF | ON (next S/R) | ON (measured move) |
→ sXSuite IntegrationsX Options Analyzer is the execution layer of the formula. Get the setup from sXRadar, confirm with sXMTF Trends, map targets from sX SBox and enter the TP stock prices into Estimate Level or direct TP stock price mode. Pick the contract from sX Options Chain, then configure your full exit plan here before you buy.