🎯 Risk Analysis / PayOff Chart

PatOff Chart for the TTF Sep-25 40/50 Call Spread 

📝 Description

The Option Payoff Chart visualizes the P&L of an options strategy across different underlying prices, while dynamically incorporating sensitivities such as Greeks, time decay, and volatility shifts. It provides an intuitive view of the trade’s payoff landscape — both at expiry and at the current time — to support deeper understanding and better decision-making.

This chart helps evaluate how an options structure performs under different market conditions by plotting:

• Real-time payoff
• Payoff at expiry
• Greek exposure (e.g., Delta, Vega)
• Dynamic changes in underlying, volatility, and time

It is a powerful tool to understand directional bias, risk zones, and how Greek exposures shift across the price curve.

🎛️ Interactive Controls

Greeks Dropdown - Choose which Greek (e.g., Delta Contract, Vega) to overlay on the chart.

• Standard Deviation Range Slider - Adjust the price range (X-axis) in σ units to center the view around spot.
• Aged By (days) - Shift the evaluation point forward in time to assess theta impact.
• Implied Vol Change (%) - Flex implied volatility up/down to see effect on P&L and Greeks.

📌 Chart Components

🔹 Main Plot

X-Axis

• Represents underlying asset price range (centered around current spot).
• Tick marks scaled in standard deviations (σ) from the current price.

Y-Axis

• Left Side: Profit and Loss (in $k)
• Right Side: Selected Greek value (Delta, Vega, etc.)

📚 Data Sources

• Option Valuation: Derived from settlement pricing and volatility curves.
• Greek Calculations: Performed on-the-fly using trade structure and selected shifts.
• Payoff at Expiry: Based purely on intrinsic value at each price node.

🧩 Interpretation Tips

• Payoff vs Expiry Line: Use the gap to see how time value or volatility premiums affect returns.
• Delta Curve: Shows how directional exposure evolves — steep changes indicate Gamma-heavy zones.
• Volatility Shift Sensitivity: Use the slider to model vega risk; higher vol helps long options, hurts shorts.
• Time Aging: Advancing time helps see whether theta will benefit or erode the position.