You can see the dealer's book.
Where do the strikes go?
Build an SPX 0DTE options strategy on the gamma ladder — a condor, a strangle, a straddle, or any four legs you like. Read it against the measured dealer book for nothing. Then, when you want to know whether it has ever paid, test it over 1,077 archived sessions on real quotes and real settlement.
Open it in the terminal Pricing
Free, on any session, with no account
- Build it by clicking strikes. The gamma ladder is already the strike axis, so a leg lands where you click it, marked with what you did — −C a short call, +P a long put. Or start from a preset and widen it.
- The payoff at settlement, drawn on the same axis as the measured book: profit above the zero line, loss below, your breakevens marked, and the expected-move band behind it.
- Against the book. Where your short strikes sit relative to the measured call wall, the put wall and the zero-gamma flip — the thing no payoff calculator can tell you, because it needs a dealer book to compare against.
- The number that decides a short-premium trade. The win rate your strategy has to hit just to break even, against the probability the market is actually pricing today. Both are arithmetic off your own legs and today's quotes.
Then test it: 10 credits
- One press runs 63 versions of it — seven widths of your own geometry across nine entry times — over every session in the archive. A single check would answer the wrong question: if one geometry loses, you cannot tell whether the idea is bad or only the strikes.
- Honest fills. Short legs sold at the bid, long legs bought at the ask, $1.25 a leg. That is not a conservative choice: measured on 13.1M prints of our own SPX 0DTE tape, the median print pays the full quoted half-spread and 92.6% execute exactly at the touch — so these fills are the median outcome, and optimistic above a handful of contracts.
- It tells you where to move. The result leads with the marginal by width: your setting against the recommended one, both with their error bars. A direction is recommended only when the marginal is ordered across the whole range and a withheld holdout agrees with it.
- It never names a best cell. With 63 variants the best one is best by chance, so the finding is the gradient and never the maximum — and the number of variants tried is printed beside the answer.
- What it pays, with the width of the answer. Per session and per month, on the holdout and on the full sample, each with the error bar that comes from session-to-session dispersion. When that bar crosses zero the page says so instead of quoting the mean.
What it will not do
- It never says which way. The tester answers distance — how far price usually travels, and what a structure earned. Per-print trade signing on SPX 0DTE is close to a coin flip, so a directional call built on it would be a guess wearing a number.
- It does not promise an edge. Most short-premium strategies win most days and still lose money, and the result says that plainly when it is true — including the chance that a run of twenty sessions ends underwater.
- SPX 0DTE only. Same-day expiry: no calendars, no diagonals, no other symbols. The AM-settled monthly root is not ingested, and the pane says so rather than failing quietly on a strategy it cannot price.
What it costs
Building and reading a strategy is free, on any of the 1,091+ finished sessions, with no account — the same terms as the rest of the archive. Testing one over the history spends 10 LAB credits, and a failed run refunds them.
There is no separate subscription for this and there will not be one. It shares LAB's credits, so if you already subscribe you have nothing else to buy; if you do not, packs start at $9 and the $49 monthly plan carries 200 credits.