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Deploy and trade options

Below the backtest on the options page sits the trade ticket panel, labelled Payoff graph. This is where you take a strategy live: edit the legs against the live price, read the position stats and Greeks, then forward-test it on paper, schedule it, or send a real order. This guide covers deploying and trading, not backtesting (that is the build and backtest guide).

Open options in the app →

Open the trade ticket and turn it on

The panel is titled Payoff graph but it is also your order ticket. It carries the legs from a backtest, or you can edit them by hand against the live price.

  1. Scroll to the Payoff graph panel below the backtest, or hit a Deploy button on a backtest result to auto-fill its legs here.
  2. Read the live price (spot, the current index price) in the ticker at the top.
  3. Use the ON / OFF chip at the top right to show or hide the payoff diagram and stats. OFF just collapses the chart, it does not stop anything.
  4. Pick BTC or ETH at the top of the page. The trade ticket follows the underlying you are working on.
The payoff diagram is OFF by default for a cleaner first view. It is one click on the ON chip away when you want the shape preview. Turning it OFF does not disable the Send button.
The Payoff graph trade ticket panel on the options page, with the ON / OFF chip.1Trade ticket panel2ON / OFF: show or hide the chart
1Trade ticket panel2ON / OFF: show or hide the chart
Open the trade ticketThe Payoff graph panel is also your order ticket.
Payoff graphlive · interactive
ON
BTC · spot$104,200
Build legs, then forward-test, schedule, or send
1/4Find the Payoff graph panelit is the trade ticket
  1. Find the Payoff graph panel (it is the trade ticket)
  2. Use the ON / OFF chip (shows or hides the chart only)
  3. Read the live price (your legs price against this)
  4. Read what the panel does (build, then deploy)

Build or edit the legs

Each leg is one option you buy or sell. Build legs is section A of the panel. You can carry legs over from a backtest or shape them here.

  1. Click + leg to add a leg, up to 6 (the Delta maximum). The header shows how many of 6 you have used.
  2. On Side, click BUY (you pay premium, a debit) or SELL (you collect premium, a credit).
  3. On Type, pick CE · Call (profits as price rises) or PE · Put (profits as price falls).
  4. Set the Strike with the minus and plus steppers, or type it. Steps match Delta (250 for BTC, 25 for ETH).
  5. Set Lots (your size on that leg) and check the Mark (the premium per unit at entry).
  6. Use the ✕ to remove a leg you do not want.
Selling a leg collects premium but carries open-ended risk and needs significant margin on Delta. Size short legs with care.
The Build legs section with the Side, Type and Strike controls and the + leg button.1Add a leg (up to 6)2BUY or SELL3Strike steppers
1Add a leg (up to 6)2BUY or SELL3Strike steppers
Build a legSection A: side, type, strike, lots, mark.
Build legs · 1 of 6 max
SELL
TypePE · Put
+ leg
1/5Set Side to BUY or SELLdebit or credit
  1. Set Side to BUY or SELL (debit or credit)
  2. Pick CE · Call or PE · Put (up side or down side)
  3. Set the Strike (steppers snap to Delta steps)
  4. Set Lots (your size on the leg)
  5. Click + leg to add more (up to 6 legs)

Set the per-leg stop, target, trail and arm

Each leg card has a risk row: SL %, TP %, Trail % and Arm %. These are the guards Vecktor enforces server-side once the trade is live.

  1. Set SL % (stop loss as a percent of the mark) to cap the loss on that leg. For a short leg it fires when the premium goes up by that percent.
  2. Set TP % (take profit as a percent of the mark) to lock in a win on that leg.
  3. Set Trail % (trailing stop, the drawdown from peak profit that triggers an exit). For example, trail 10 percent with a peak of plus 25 percent exits at plus 15 percent.
  4. Set Arm % to delay the trail until profit first reaches that level, so it does not fire on early noise. Arm is greyed out until you set a Trail.
  5. Open adv on a leg for the tp ladder (partial exits at tp1, tp2, tp3, each with a target % and a qty %) and intraday auto-close (a by time in IST, 24-hour Indian time).
Leave a field empty for no guard there. If the TP ladder is active, the simple TP % in the row above is ignored. Arm % stays greyed out until you set a Trail %.
The per-leg risk row with SL %, TP %, Trail % and Arm % on a leg card.1Per-leg stop loss2Trailing stop3Delay the trail
1Per-leg stop loss2Trailing stop3Delay the trail
Set the leg guardsSL, TP, Trail and Arm fire server-side once live.
adv ▾
1/5Set SL % to cap the losspercent of the mark
  1. Set SL % to cap the loss (percent of the mark)
  2. Set TP % to lock a win
  3. Set Trail % for a trailing stop (drawdown from peak profit)
  4. Set Arm % to delay the trail (needs a Trail first)
  5. Open adv for the TP ladder (partial exits + intraday close)

Read the position stats strip

Section B, Position stats, reads the legs you built and updates live as the price moves. It is a model estimate, not the exchange mark.

  1. Read Est. MTM (intrinsic): the estimated mark-to-market open profit or loss using intrinsic value at the current price. It ignores time value, so it is an estimate.
  2. Read Premium: the net premium, plus if you collect at entry, minus if you pay.
  3. Read Max profit and Max loss: the best and worst case at expiry across the modelled price range.
  4. Read Breakeven: the price or prices where the strategy crosses zero profit at expiry.
  5. Read POP: probability of profit (the model-implied chance the position is in profit at expiry).
These numbers are a model estimate for planning. Live profit and loss reconciles against real Delta marks once the order fills, so treat the strip as a guide, not a promise.
The Position stats strip with Est. MTM, Max loss and POP.1Estimated open P&L2Worst case at expiry3Probability of profit
1Estimated open P&L2Worst case at expiry3Probability of profit

Tune the pricing inputs (IV and DTE)

On the Payoff tab, a pricing inputs row lets you change the volatility and time the model uses, which moves the stats and the curve.

  1. Click the 📈 Payoff pill to switch section C (Payoff & Greeks) to the chart and Greeks.
  2. Open the pricing inputs disclosure (the row that reads pricing inputs · IV nn% · nnd).
  3. Drag IV (implied volatility, the market's expected swing) to match the contract you are pricing.
  4. Drag DTE (days to expiry, how long until the option settles) to the expiry you intend to trade.
  5. Click reset to return to the defaults (65 percent IV, 7 days).
IV and DTE only change the model preview (stats, curve, Greeks). They do not change the strikes or the order that gets sent. They help you sanity-check the shape before you commit.
The pricing inputs disclosure on the Payoff tab with the IV and DTE sliders.1Payoff tab2IV and DTE inputs
1Payoff tab2IV and DTE inputs

Read the net Greeks

On the Payoff tab, the Greeks pane sums the sensitivities of all your legs into one set of numbers.

  1. Read Δ Delta: how much the position moves per dollar of price. Near zero means it is roughly direction-neutral.
  2. Read Γ Gamma: how fast Delta itself changes. High gamma means a whippy, less stable position.
  3. Read Θ Theta: the daily profit or loss from time decay alone. Positive collects premium each day, negative bleeds it.
  4. Read ν Vega: profit or loss per one percent change in implied volatility. Negative means you profit when volatility falls.
Greeks are computed from the same model as the stats, using your IV and DTE inputs. They describe the shape now, not a guaranteed outcome.
The Net Greeks pane summing Delta, Gamma, Theta and Vega across the legs.1Summed sensitivities2Theta: daily time decay
1Summed sensitivities2Theta: daily time decay
Read the net GreeksAll legs summed into one set of sensitivities.
Δ Delta-0.04
Γ Gamma0.00012
Θ Theta+42.0
ν Vega-31.0
1/3Read Deltamove per $1 of price; near 0 is neutral
  1. Read Delta (move per $1 of price; near 0 is neutral)
  2. Read Theta (daily decay; positive collects premium)
  3. Read Vega (negative profits when volatility falls)

Check the order ticket before sending

The Order ticket tab is what you confirm against. It lists exactly what will be sent: each leg's side, symbol, size, and the net premium.

  1. Click the 📤 Order ticket pill in section C (it then reads Order ticket). The rows sit under the Per-leg order ticket heading.
  2. Read each per-leg row: BUY or SELL, the contract symbol (for example BTC-104000-C), its ITM, OTM, or ATM tag, and the lots.
  3. Read Net premium at the bottom: the total credit or debit the structure carries.
  4. Confirm the legs match what you intend before you send.
Orders route to your active mode (paper, testnet, or live) on Delta India using withdrawal-disabled keys. Vecktor never holds your funds.
The Per-leg order ticket on the Order ticket tab with the Net premium.1Order ticket tab2Exactly what gets sent3Total credit or debit
1Order ticket tab2Exactly what gets sent3Total credit or debit
Check the order ticketExactly what gets sent to Delta.
📈 Payoff📤 Order ticket
SELL · BTC-104000-C · ATM · 1 lot≈ 980.00
SELL · BTC-103750-P · OTM · 1 lot≈ 920.00
Net premium+1900.00
1/3Click the Order ticket pillshows what will be sent
  1. Click the Order ticket pill (shows what will be sent)
  2. Check each leg row (side, symbol, size)
  3. Read Net premium (the total credit or debit)

Check available margin first

On testnet and live, the panel shows the free margin that actually gates a new order, plus a warning when it looks too low.

  1. Find Available margin near the buttons. It shows the free margin in your Delta wallet for the active mode, not the total balance.
  2. Read the low-margin warning if it appears. Short option legs need significant margin, so the order may be rejected.
  3. Top up or trim your size if it warns, then check the figure again.
  4. Go ahead if the figure comfortably covers the structure.
Vecktor cannot pre-compute Delta's exact margin client-side, so the warning is a caution, not a precise number. If Delta does reject, you will see the exact amount it needed. Available margin is hidden in paper mode because paper has no Delta wallet.

Send an order (paper, testnet, or live)

The big Send button is mode-aware. Its label and colour change with your active mode so you always know what you are about to do.

  1. Check your active mode (set on the page, shown on the Send button).
  2. In Paper mode the button reads Switch to Testnet to trade options. Options have no local paper simulator, so practice runs on testnet (free demo funds, the real engine). Click it to switch.
  3. In Testnet mode the button reads Send testnet order · Delta and is tinted amber. Clicking sends to Delta's demo console with fake money, zero real risk.
  4. In Live mode the button reads Send live order · Delta. Clicking sends a real order with real funds. There is no undo.
  5. Watch the status line under the buttons for the confirmation or the exact error.
Paper is zero risk, testnet is fake money, live is real money. Backtesting, deploying, monitoring and the kill-switch (the one-click halt-all) are free. The AI features (Compose, the backtest analyst, the Optimizer) run on credits with a free monthly grant in beta.
The mode-aware Send button and the Forward test (paper) button on the options page.1Mode-aware Send button2Paper-test the legs
1Mode-aware Send button2Paper-test the legs
Send mode-awareThe button changes with your active mode.
Available margin$1,240.00
Low free margin: short legs may be rejected
Send testnet order · Delta
testnet order placed · demo funds
1/4Check Available marginthe free figure that gates the order
  1. Check Available margin (the free figure that gates the order)
  2. Heed any low-margin warning (Delta returns the exact shortfall)
  3. Click Send (testnet is fake money, live is real)
  4. Read the status line (confirmation or exact error)

Run now or schedule for later

The ⏱ Schedule button opens a small modal titled Run this strategy. Use it to fire now or set the same legs to run on a timer.

  1. Click ⏱ Schedule. It needs Delta keys connected, so it is greyed out in paper mode.
  2. Under When, pick Now (sends straight away, same as Send), Once (a single future date and time), Daily, or Weekly.
  3. For Once, set the Date and the Time (IST). For Daily and Weekly, set the Time of day (IST). For Weekly, also tick the days under On these days.
  4. Optionally type a name under Save to library (optional) and click Save to reuse it later.
  5. Click Send now · Delta (for Now) or Schedule strategy to confirm.
  6. After scheduling, find your scheduled runs in the jobs list further down the options page (not in the modal), where you can Cancel a pending one.
Scheduled runs fire automatically on your connected Delta account in the active mode (testnet or live). Recurring schedules re-arm after each run. A scheduled live run places a real order at that time with no further confirmation.
The Schedule button that opens the Run this strategy modal on the options page.1Run now or on a timer
1Run now or on a timer
Run now or scheduleThe Run this strategy modal: Now / Once / Daily / Weekly.
NowOnceDailyWeeklySchedule strategy
1/4Pick Now to send straight awaysame as Send
  1. Pick Now to send straight away (same as Send)
  2. Or pick Daily for a timer (Once, Daily, or Weekly)
  3. Set the Time of day (IST)
  4. Confirm the schedule (fires on your Delta account in the active mode)

Forward test on paper first

Forward test (paper) opens a paper position on live Delta prices. No real order, no risk. Use it to watch a structure behave for a while before you commit funds.

  1. Click Forward test (paper). The current legs are opened as a paper trade.
  2. Watch the status line confirm a forward-test session was created.
  3. Open /positions to follow the paper trade as live prices move it.
  4. Send it for real once you trust the structure.
Forward testing uses real live prices but places no order, so nothing touches your funds. It is the safest way to pressure-test exits before going live.

Watch the trade after you send it

The options page sends and schedules. Watching and managing the trade happens on the positions page.

  1. Open /positions after you send or forward-test.
  2. Watch fills, live profit and loss, and the guards (stop, target, trail) you set.
  3. Square off (close) a position there when you want out. Use the panic close-all if you need to flatten fast.
  4. Remember that turning off the payoff diagram, or leaving the page, does not close anything. Only a close on /positions does.
Close all cannot be undone, and stopping watching cancels the guards but does not close the position. Manage the open trade on /positions, not here.
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