I built a heatmap to compare option yields across strikes and expiries
u/ThetaHedge ·
Reddit — r/thetagang
· May 23, 2026 at 14:36
· ⬆ 22 pts
· 💬 4 comments
| View on Reddit ↗
No analysis available.
Score22
Comments4
Upvote %92%
▶ Full Post Text
Hi All,
I've been selling options for a while, and one thing I always found annoying was comparing contracts across expiries. I would end up manually checking premium yields and jumping through option chains to figure out which contracts were actually attractive.
To make this easier for myself, I built an options heatmap that lets me compare strikes and expiries in one view. It also highlights earnings weeks since elevated premiums can sometimes reflect event risk rather than better opportunities.
The heatmap currently has a few views:
• Premium Yield – quickly identify higher-returning contracts
• Assignment Risk Indicator (ARI) – estimates assignment risk using remaining extrinsic value and time to expiry
• Delta – traditional probability view of finishing ITM
Clicking a contract opens additional details like Greeks and premium metrics.
One thing I found interesting is seeing how delta distribution broadens across higher DTEs.
I’m looking for feedback from experienced option sellers - is there anything important you think is missing?
You can try it here (free, no login required): [app.thetahedge.io](http://app.thetahedge.io)