The Options Lab ( at http://www.TheOptionsLab.com ) has two buttons called QuickLoss in red and Quickgain in green that many traders found very helpful. Those two functions are used to give Options Traders a quick analysis on what the gain or loss will be if everything goes your way or everything goes against you. let's say your strategy is a short vega, long theta and long delta position such as Split Strike with long underlying. Once you click on QuickGain, The Options Lab will drop the volaility by 5% out of current IV. If the current IV is 56%, one click will drop IV to 53%. Within the same click, The Options Lab will also decrease the Days by one, If the current days is 18, it will change it to 17 days ( since it is a long theta ) Also within the same click, The Options Lab will jump the underlying price by 1% ( since it is a long delta ). If you keep clicking on QuickGain button, the Options Lab will keep adjusting all three values to increase your profit. Clicking on the QuickLoss, The Options Lab will do the opposite, which means it will jump the IV by 5% of the current IV, drop the stock by 1% and Days will stay the same ( Days will never increase ) Want to see it in action ? here is how: 1. Go to http://www.TheOptionsLab.com 2. Click on Online tab 3. Enter Symbol 'aapl' 4. Click on Split Strike from the left hand side. 5. Click on the QuickGain If you want to go back to the original position, hit Refresh button. Now watch those greeks and Net P & L very carefully ( espically the Totals row )