Risk disclosure
Not investment advice
The data, calculations and strategies on Options.uz (AZCapital) are for analysis and learning only. They are not investment advice, an offer to trade or a promise of any result. You are responsible for your trading decisions and their consequences.
Options risk
Options trading carries a high level of risk:
- you can quickly lose the entire premium paid for an option you buy;
- on an option you sell, the loss can exceed the premium received, and on an uncovered Call it is unlimited;
- a small amount controls a large position: even a small move in the stock price changes the result sharply;
- an option loses value as time passes;
- a wide spread between bid and ask worsens your entry and exit prices;
- American-style options can be exercised early.
Before you trade, a US broker gives you the OCC document “Characteristics and Risks of Standardized Options” — read it.
Market data
Our data source is Unusual Whales. Without an account and on the Free plan, data is shown with a delay of at least 15 minutes, and some sections show the previous session’s closing prices. On the Pro and Elite plans, data has no delay and refreshes every 15–30 seconds.
An option quote is the bid and ask at the contract’s last trade. Without trades the quote goes stale; the price is then recalculated by the model and marked as an estimate. Each group of figures shows its own time. Data may contain errors and gaps.
Calculations
Theoretical prices, IV, Greeks, probability of profit and expected move are model estimates. European-style SPX and XSP index options use the Black–Scholes–Merton model, American-style options the Leisen–Reimer binomial model. Future dividends are estimates.
Capital required and margin follow the standard CBOE rule and may differ at your broker. P&L at expiration is exact for the prices entered; before expiration it is an estimate. Strategy optimizer results are a calculation for the target price and date you enter, not a recommendation: the list does not guarantee that the target will be reached.
Historical calculator results are a calculation on past closing prices: they do not guarantee future results, and commission and the spread are not part of the main result.
Paper trading
Paper trading uses practice money; no real money is involved. Orders fill at the mid price in your plan’s data mode, which on Free is delayed.
Real trades fill at the bid or ask, with slippage and commissions, so a practice result is not a real result.
Backtests
Backtest results are hypothetical: they run on daily closing data and assume trades fill at the end-of-day mid. Past results do not guarantee future results.
Trade GPT
Trade GPT answers are written by a language model, and it can make mistakes. Numbers in an answer are checked against platform data: if they don’t match, the answer text is not shown and only the data cards remain. An answer is an explanation, not a recommendation. Trade GPT doesn’t trade: only you send a paper order, after confirming it.
Alerts
Price alerts are checked on the main session’s one-minute data and paper position P&L every 5 minutes, so a notification can arrive late. An alert only notifies you: it doesn’t buy or sell anything.