About Option Geometry

What is Option Geometry?

The site has two parts: an interactive analysis tool and a set of long-form guides.

Options Strategy Analysis Workbench

The Options Strategy Analysis Workbench analyzes a strategy that you describe as a set of legs — long or short calls and puts, and stock — with one common expiration date, under market assumptions you enter. It shows:

• the payoff at expiration, breakevens, and maximum profit and loss;
• model values and profit and loss before expiration, with European (Black–Scholes–Merton) or American (finite-difference) pricing;
• position and per-leg Greeks, and the implied volatility of each entered premium;
• the effect of a continuous dividend yield or of a schedule of discrete cash dividends;
• early-exercise and assignment diagnostics for American options;
• scenario analysis across price, date and volatility, with every profit and loss after the opening costs you enter.

Strategies with more than one expiration date, such as calendar and diagonal spreads, are not supported.

Options Guides

The Options Guides are 10 long-form educational articles on options strategies, pricing, implied volatility, the Greeks, exercise mechanics and risk. They are based on research, explain the concepts with worked examples and cite the sources they rely on.

Operator and publisher

Option Geometry is a website operated and published by Cloudwards e.K., owned by Oliver Sinz. Option Geometry is the name of the website, not a separate company. The imprint is the authoritative source for the legal entity, its contact details and its commercial-register entry.

Editorial responsibility

Oliver Sinz, Diplom-Betriebswirt (FH), is responsible for the editorial content of Option Geometry. Oliver Sinz owns Cloudwards e.K. and has more than 20 years of experience developing financial-information and comparison websites, primarily for the German market.

At Option Geometry, Oliver Sinz is responsible for:

• the product concept and direction;
• editorial direction;
• publication decisions;
• ongoing development and maintenance.

Every guide names Oliver Sinz as editorially responsible, and the imprint names the same person as responsible for editorial content under German media law.

How the guides are researched and written

The guides are developed with AI assistance: AI tools support research, drafting and editorial development. The research draws on primary sources, academic references and institutional documentation, such as publications of exchanges, clearing organizations and regulators, and each guide cites the sources it relies on. Financial examples and mathematical explanations are worked out with explicitly stated assumptions, and the drafts go through review and correction passes before publication. Editorial direction and the decision to publish remain with Oliver Sinz.

AI assistance is a tool in this process, not evidence of accuracy. Neither it nor the review passes guarantee that a guide is free of errors.

What “Last verified” means

Each guide shows a “Last verified” date: the date of the guide's recorded verification of its facts and references. It is not a publication date or an automatic modification timestamp, and it does not mean that the guide is monitored continuously. Market conventions, contract specifications and regulatory information can change after that date.

Financial modeling and validation

The Workbench computes every figure from the inputs you enter:

• European exercise with a continuous dividend yield is valued with the Black–Scholes–Merton model.
• American exercise and discrete cash dividends are valued with a finite-difference model.
• Greeks and implied volatilities are computed with the model that values the position.
• The payoff at expiration is evaluated exactly: breakevens and maximum profit and loss are derived from the legs, not read off a sampled curve.
• Units, conventions, mathematical assumptions and the validated limits of the numerical model are documented. Inputs outside those limits are rejected, and values the model cannot compute are marked as unavailable instead of being estimated another way.

The engine is covered by automated unit tests, and the numerical model has been compared with independent reference values. These tests establish confidence within the documented assumptions and limits. They are not a certification or an external audit, and they do not guarantee that a figure is correct for a real position.

Every result is a theoretical estimate under the assumptions you specify. The Workbench does not obtain live market data and does not execute trades.

Read the methodology and limitations

Model boundaries and financial risk

The Workbench analyzes hypothetical scenarios that you define. It does not:

• use live options-market data or connect to a brokerage account;
• place or execute trades;
• simulate actual early exercise or assignment, or estimate assignment probabilities;
• analyze strategies with more than one expiration date;
• fully account for trading frictions, margin, financing, taxes or market liquidity: only the opening costs you enter are included;
• forecast market direction or future profitability: its probabilities describe the pricing model, not the real world.

Trading options involves substantial financial risk. Losses can exceed the amount invested, and some short option positions, such as uncovered short calls, have potentially unlimited losses. A maximum loss calculated by a model does not remove real-world risks such as early assignment, price gaps, illiquid markets or margin calls. Nothing on Option Geometry is investment advice or a recommendation to buy or sell a security.

Independence and commercial transparency

Option Geometry currently contains no advertising, affiliate links, sponsored content or paid placements, and it does not rank or compare brokers. It uses no analytics or marketing tracking, as described in the privacy policy. This describes the site as it is operated today.