Options P&L Chart – SPX Butterfly & 0DTE Tracker
A free options profit and loss charting tool built for SPX butterfly spreads and 0DTE (zero days to expiration) strategies. Paste your trade confirmation, and instantly see a real-time P&L chart that updates every 5 seconds during market hours.
Supports multi-leg option strategies including butterfly spreads, with automatic strike parsing from broker confirmations (thinkorswim, Schwab format). Track entry cost, breakevens, max profit, max loss, and current P&L at a glance.
What Is a Butterfly Spread?
A butterfly spread is a neutral options strategy that combines a bull spread and a bear spread using three strike prices. In a put butterfly, you buy one higher-strike put, sell two middle-strike puts, and buy one lower-strike put. The result is a position with defined risk: your maximum loss is the premium paid, while your maximum profit occurs when the underlying asset expires exactly at the middle strike. SPX butterfly spreads are popular among options traders for their favorable risk-to-reward ratio on expiration day.
Why Track 0DTE Options in Real Time?
0DTE (zero days to expiration) options expire on the same day they are traded. SPX weekly options offer 0DTE opportunities every trading day. Because time decay (theta) accelerates dramatically on expiration day, butterfly spread values can change rapidly. A real-time profit and loss tracker lets you monitor your position, see how close the underlying is to your breakeven prices, and decide when to close the trade. This tool updates every 5 seconds during NYSE market hours (9:30 AM – 4:00 PM Eastern).
Features
- Paste a thinkorswim or Schwab butterfly confirmation and start charting instantly
- Live P&L chart with automatic updates every 5 seconds
- Breakeven calculation for upper and lower wings
- Max profit and max loss displayed alongside current P&L
- High-of-day and low-of-day tracking
- Automatic settlement calculation after market close
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