You can use Robinhood’s Options analyzer to analyze options trades across all your positions on the same symbol, including equities and options positions. This tool gives you a complete, symbol-level view of your options trades to help you understand risk, exposure, and investing opportunities at a glance.

To access and use the Portfolio analyzer:

1. Confirm you have Options investing enabled, which is required to access and use this tool.
2. Within your account, select Investing → Options
3. Scroll down and select Options analyzer, where you can do the following analysis.

• Symbol selection: Use the navigation bar at the top to swipe between different symbols in your portfolio. Note that for portfolios with more than 20 symbols with options positions, you can use the Search tool to locate and select a symbol.
• Positions: Add or exclude specific positions, strategies, or legs to or from the analysis by selecting the checkbox next to each in the list below the analyzer.
• Price and time: Use the interactive chart to simulate price movements and the date slider to move forward in time.
• Strategy scaling: Use the quantity buttons (+/-) on any strategy row to simulate how increasing or decreasing your position size affects your total risk and return.
• Simulating past expiration: If you slide the date past an expiration pin, the tool maintains the P&L by assuming the contract was either exercised (in-the-money) or expires (out-of-the-money).
• Resetting: Select Reset to clear what’s selected.
• Empty state: If no options positions are available to analyze, an empty state with SPX will be shown by default.

The following shows an example of what you can view in the analyzer:

• Pinned metrics: As you scroll through your positions, a condensed view of the underlying price and your updated Unrealized P&L stays visible at the top of the screen.
• Aggregated Greeks: You can view consolidated Delta, Gamma, Theta, and Vega across all the selected positions to gauge total exposure.
• Scaling: Shows at the position level with a Greek value multiplied by the trade value of multiplier (TVM), which is typically 100, and the quantity. For example, a position of 10 contracts whose Delta is 0.40 per contract would show on the analyzer as 400 (0.40 * 100 * 10).

• Trading: You can start an options trade directly from the analyzer by selecting Open, Close, or Roll.
• Rolling: Available only when a single-leg position is selected. This selection is not available for multi-leg positions.
• Available actions: Trading options are designed to enable the specific action being simulated. For example, if you simulate a reduction in quantity, Close will be the only available option to match the simulation.

Robinhood’s Portfolio analyzer tool doesn’t show actual returns, but possible returns based on the effects of stock movement and time decay. The results shown in this tool are hypothetical and only as accurate as the tool’s model and inputs. This tool may lead to inaccurate conclusions due to insufficient or incorrect variables, incorrect assumptions, and accuracy of source data. Although this tool can help you make investment decisions, it doesn’t reflect actual investment results or guarantees of future results.

Be aware of the risks associated with your specific options strategy, as options trading and certain options strategies are not appropriate for all investors. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. To learn more about the risks associated with options, read the Characteristics and Risks of Standardized Options before you begin trading options.

Because of the importance of tax considerations to all options transactions, consult your tax advisor about how taxes affect the outcome of each options strategy. Also be aware of the risks listed in Day Trading Risk Disclosure Statement and FINRA Investor Information. Examples included in this article are for illustrative purposes only.