Iron Condor Options
Calls, Puts & Strategy Sim
Only for iPhone
Free · In‑App Purchases · Designed for iPhone. Not verified for macOS.
iPhone
New: 4 calculators (Black-Scholes, IV reverse, probability, DTE) and ticker presets for the simulator. 60 quiz questions across 4 categories.
Iron Condor Options is an options simulator and a structured course in one app. Build the Iron Condor, learn what calls and puts actually do, and watch the payoff diagram of any options strategy redraw as you change it.
THE STRATEGY SIMULATOR
Build any position up to four legs. Combine calls and puts, long and short, across different strikes and expirations. Move spot, IV, and DTE and watch the payoff curve, the breakeven, and the aggregated delta, gamma, theta, and vega update on every frame. Pull a live options chain for a real ticker to start from current strikes and IV, or work fully offline from typical values. Save any position to your library and reopen it later.
LEARN OPTIONS, ONE LESSON AT A TIME
55 lessons across four tracks, each one written to be read in 4 to 8 minutes.
Foundations: what an option is, calls, puts, premium, strike, expiration.
Greeks: delta, gamma, theta, vega, and how each one moves a position.
Mechanics: vertical spreads, the Iron Condor, butterfly, calendar, strangle, and how every one is built.
Mastery: adjusting, rolling, and managing a position that moves against you.
A free Iron Condor Fast Track links nine of these lessons into one path, from your first call to the namesake trade in about half an hour.
24 OPTIONS STRATEGIES, EVERY PAYOFF DRAWN
A reference card for every named structure: long call, long put, vertical spread, the Iron Condor, iron butterfly, calendar, strangle, straddle, ratio spread, covered call, and the rest. Each card lays out the structure, max profit, max loss, breakeven, when to use it, and a worked numeric example. The payoff diagram on each one is drawn by a real Black-Scholes pricer, not a stock image.
FOUR CALCULATORS
A Black-Scholes pricer with the full set of Greeks.
Implied volatility solved backward from a market price.
Probability of touching a level and of finishing ITM at expiration.
A DTE counter for any expiration date.
PRACTICE AND REFERENCE
60 quiz questions across four categories. Answer three in a row and the category is marked as mastered. Test out of lessons you already know.
A glossary of 50 terms in plain language, searchable, each with an example.
Typical IV ranges for 63 popular tickers, useful as a sanity check on a chain or a starting point for the simulator.
HOW IT WORKS
Lessons, strategies, glossary, calculators, and quiz are bundled in the app. No account, no signup. The simulator fetches a live options chain only when you want real strikes and IV, and falls back to typical values when you are offline. Every calculation runs on your device.
No subscription. The app is free, with one optional Remove Ads purchase for US$4.99.
Languages: English, Português, Español.
Educational reference only. This app is not investment advice. Trading options carries a substantial risk of loss.
Ratings & Reviews
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The developer, Cleiton Tortato, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Identifiers
- Usage Data
- Diagnostics
Accessibility
The developer has not yet indicated which accessibility features this app supports. Learn More
Information
- Seller
- Cleiton Tortato
- Size
- 41.7 MB
- Category
- Finance
- Compatibility
Requires iOS 13.0 or later.
- iPhone
Requires iOS 13.0 or later. - iPod touch
Requires iOS 13.0 or later. - Mac
Requires macOS 11.0 or later and a Mac with Apple M1 chip or later. - Apple Vision
Requires visionOS 1.0 or later.
- iPhone
- Languages
- English
- Age Rating
4+
- 4+
- Contains
Advertising
- In-App Purchases
Yes
- Remove Ads $4.99
- Copyright
- © 2026 Cleiton Tortato