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I'm a CS student who's been trading options for a while, and I keep seeing the same pattern across r/options, r/thetagang, and the other options subs. A lot of beginners trying to figure out what their own contracts actually do. Not "what's a call option" type questions — more like "I bought this three days ago, it's down 40%, can someone tell me why?".
So I built Strike Wise which has two main features(currently).
* Find a contract. Tell it your conviction (ticker, direction, target price, target date) and it surfaces five live contracts that fit, ranked and explained.
* Translate a contract. Paste a contract you're already considering and it breaks down what you actually own — premium in dollars, breakeven, what happens to the position as SPY moves, time decay and a P&L heatmap across price × time.
There's also a beginner primer covering the basics , calls, puts, strikes, greeks etc.
[Example of $SPY 700P expiring on May 8th 2026](https://preview.redd.it/ibrq14oc67zg1.png?width=1037&format=png&auto=webp&s=bb54b1348fbab1cf0846976925ea9e34a3fd9ea1)
It's free, no signup needed. Currently uses previous-session close data (live data is part of Phase 2, which is paper trading options on live markets).
I built this because I got tired of mentally translating my own positions every time I opened my broker. Figured if I needed it, others might too.
Any feedback is genuinely appreciated! Especially what feels off, what you'd add, and whether the plain-English approach actually helps or feels off. Link in comments.