Frequently asked questions

What is Vega Lab?

Vega Lab is a browser-based options strategy visualiser. You enter a ticker, load a live option chain, and build multi-leg positions — covered calls, iron condors, spreads, straddles, and more. The dashboard shows a payoff chart at expiry, a P&L heatmap across price and time, live Greeks, and scenario analysis.

It is a modelling and education tool. It does not execute trades or connect to a brokerage account.

Is this financial advice?

No. Vega Lab is for educational and informational use only. Nothing on this site is a recommendation to buy, sell, or hold any security, option, or financial instrument. Always verify information with a qualified professional or your broker before making any trading decision.

What data source does Vega Lab use?

Option chain data is sourced from a live market data provider. The risk-free rate used in pricing is fetched from US Treasury yield data. Earnings calendar events are sourced from Financial Modeling Prep (FMP).

Data may be delayed, incomplete, or different from what your broker shows. Use it for modelling, not for execution decisions.

Is Vega Lab connected to my broker?

No. Vega Lab does not connect to any brokerage account, execute trades, or custody assets. You cannot place orders through Vega Lab. It is a standalone analytics tool.

How is probability of profit (PoP) calculated?

Probability of profit is estimated using the Black-Scholes model. Vega Lab takes the implied volatility of your position and models the log-normal distribution of the underlying at expiry. PoP is the fraction of that distribution where the strategy produces a positive P&L.

This is a model-based estimate, not a guarantee. Real markets are not perfectly log-normal — fat tails, skew, and gaps all mean actual outcomes may differ from model predictions.

How are the Greeks computed?

Delta, gamma, theta, vega, and rho are computed analytically using the Black-Scholes model for each leg, then aggregated to a portfolio level. The risk-free rate is updated from live Treasury data on load. IV for each leg is derived from the option chain data.

Can I save my strategies?

Yes. The dashboard has a save button in the top bar. Strategies are stored locally in your browser using IndexedDB — no account is required. Saved strategies persist across sessions on the same device and browser, but are not synced across devices.

What strategies can I model?

You can model any combination of calls and puts — long or short — on the same underlying. The builder supports up to four legs. This covers all common multi-leg strategies: iron condors, iron butterflies, covered calls, protective puts, bull/bear spreads, straddles, strangles, ratio spreads, and more.

Strategy presets are available in the builder for the most common structures.

How do I use the heatmap?

The heatmap shows your strategy's P&L across a grid of underlying prices (vertical axis) and days to expiry (horizontal axis). Green cells are profitable; red cells are a loss. The white dashed line marks the current spot price; yellow dashed lines mark your strikes.

Hover over any cell to see the exact price, date, P&L, and Greeks at that point. You can adjust the price range and DTE range using the sliders below the heatmap.

Is my data stored anywhere?

Saved strategies are stored locally in your browser's IndexedDB — they never leave your device. No account, login, or server-side storage is involved. Vega Lab does not collect or store any personal trading data.