Strategies

OptionsPro groups individual legs into named strategies so your journal reads like your trading plan, not a list of executions. Detection runs on every sync and re-runs whenever a trade is added or closed.

What gets detected

The detector recognizes a wide library of structures, including:

• Single-leg - Long Call, Long Put, Short Call, Short Put.
• Verticals - Bull Call, Bear Call, Bull Put, Bear Put.
• Ratio spreads and backspreads - Bull/Bear Ratio Spreads, Short Bull/Bear Ratio Spreads, Call/Put Ratio Spreads, Call/Put Ratio Backspreads.
• Ladder spreads - Bull Call Ladder, Bear Put Ladder.
• Butterflies and condors - Butterfly, Bull/Bear Butterfly, Iron Butterfly, Reverse Iron Butterfly, Condor, Bull Condor, Iron Condor, Reverse Iron Condor, Short Butterfly, Short Condor.
• Albatrosses - Albatross, Iron Albatross, Reverse Iron Albatross, Short Albatross.
• Calendars - Calendar Call/Put Spreads, Short Calendar Call/Put Spreads, Calendar Straddle, Calendar Strangle.
• Volatility plays - Long/Short Straddle, Long/Short Strangle, Long/Short Gut, Strip Straddle, Strap Straddle, Strip Strangle, Strap Strangle.
• Stock-and-options combinations - Covered Call, Covered Put, Covered Call Collar, Collar, Protective Put (Married Put), Protective Call.

Anything that doesn't match a known structure - including diagonals (different strike and different expiration) - is recorded as a Custom Strategy so its legs still aggregate together.

You can also group legs yourself when the detector's answer isn't the one you traded - see Custom Strategy Grouping.

Strategies page

The page is split into four tabs: Strategies, Conflicts, Opportunities, and Exclusions. Summary cards above the tabs show counts for each.

The Strategies tab lists every detected strategy with these columns:

• Symbol - underlying ticker.
• Strategy - the detected structure with a market-outlook badge (bullish / bearish / neutral / volatile).
• Expiration - earliest expiration, or a range when the structure spans multiple expirations (e.g. calendars). A colored badge shows days remaining (orange within 7 days, red if expired).
• Strike - strike(s) involved, separated by / when there is more than one.
• Legs - count of contract legs.
• Status - Active, Closed, or Partial.
• Portfolio - portfolio assignment for the underlying positions, or a count badge when legs span multiple portfolios.
• Source - Auto-detected, User-selected (you picked the structure when entering the trade), or Manual (you grouped it yourself, from the Conflicts tab or the grouping modal). Manual groups can also carry Locked and Edited badges.
• Confidence - Low / Medium / High indicator for how well the detected pattern matched, plus a suggested fills badge when new legs may belong to a group you customized.

Click a row to expand it and see each leg's direction, type, strike, expiration, quantity, average cost, cost basis, and realized P&L. The row's actions menu lets you Reject an auto-detected or user-selected strategy (which adds an entry to the Exclusions tab so it won't be detected again), Delete a manually resolved strategy, or Break up a group into simpler ones.

The page also has a search box; sort by clicking column headers. A Minimum Opening Legs filter controls how simple a structure has to be before it's listed - set it to 1 to include single-leg strategies, or raise it to hide them.

Selecting two or more rows from the same underlying reveals a Group into Strategy action above the table - see Custom Strategy Grouping.

Conflicts, Opportunities, and Exclusions

• Conflicts - positions that fit more than one valid structure. OptionsPro shows each candidate with a percent-match badge so you can pick the one you intended.
• Opportunities - partial matches: positions that would form a known structure if you added one or two more legs. Each card lists the missing legs.
• Exclusions - strategies you've rejected. They won't be detected again until you remove the exclusion from this tab.

Why a leg might not group

If a leg you expect to be part of a spread shows as standalone, the most common causes are:

• The positions match more than one structure and are sitting on the Conflicts tab waiting for you to choose.
• The structure is incomplete and is showing on the Opportunities tab instead.
• You (or someone in your org) previously rejected the structure - check the Exclusions tab.
• The leg is already part of a group you created or edited yourself. Those groups are locked, so auto-detection won't pull their legs into a different structure - see Custom Strategy Grouping.
• A portfolio filter is active and one of the legs is in a portfolio that's currently filtered out.
• The trade is still being enriched - the P&L refining indicator on the Trades page will be showing.

Detection re-runs automatically. If a structure doesn't appear after a minute, reach out to support.