options

A framework for choosing and managing options strategies, which are contracts tied to the future price of an asset. It covers structures such as spreads, iron condors, butterflies, covered calls, and calendars.

In plain words
What is it for?
Selecting an options structure, considering volatility and time, reading risk measures called Greeks, sizing positions, and deciding when to close or adjust them.
Why use it?
Options positions can behave differently depending on price direction, movement size, volatility, time, and risk, making strategy choice difficult.

Skill for Claude CodeCodex

Part of the ib-portfolio-management plugin — 6 skills, 1 command, 1 agent, 2 hooks shipped together

Install

Getting it into your agent

One page per mod, every tool's command on it. A separate URL per tool would split the same page into five that compete with each other.

agentmods
npx agentmods add skills/oh-rid/claude-code-plugin-ib/options
Any agent
npx skills add oh-rid/claude-code-plugin-ib --skill options
Clone the repo
git clone --depth 1 https://github.com/oh-rid/claude-code-plugin-ib

Made for: Claude Code, Codex.

Or install ib-portfolio-management, the plugin that ships this one along with the rest of its 6 skills, 1 command, 1 agent, 2 hooks.

Per session 163 Skills are progressive disclosure: only the name and description are preloaded; the body loads when the skill is used.
When invoked 1,038 The whole file, excluding the scripts and references it only reads on demand.
Security scan A 0 findings. Scan, not verified.
Origin original No closer match found in the catalogue.
Token cost

What it costs to keep this loaded

Counted locally with the o200k_base tokenizer, which is exact for GPT models; Claude uses its own tokenizer and its counts differ. Treat this as one consistent yardstick across the catalogue rather than a bill. Prices are per million input tokens.

ModelPer sessionOnce invoked
Fable 5 $0.00163 $0.01038
Opus 5 $0.00081 $0.00519
Sonnet 5 $0.00033 $0.00208
Haiku 4.5 $0.00016 $0.00104

Measured 3d ago against content hash e7157b96be8a, method: parsed. Prices are Anthropic first-party input rates as of 2026-08-30, from the pricing page.

Security

Grade A, and why

options scanned grade A with 0 findings against 26 rules in 11 categories — prompt injection, anti-refusal, data exfiltration, privilege escalation, supply chain, agent snooping, system-prompt leakage, SSRF and excessive agency — measured 3d ago.

A static scan of the body, not an audit. Every finding is printed with the line that produced it so you can judge whether it matters here. A mod is markdown that instructs an agent; that is exactly why what it instructs is worth reading.

Nothing flagged

None of the 26 patterns this scan looks for appear in this file: no shell pipes, no recursive deletes, no credential paths, no hidden text, no instruction-override or anti-refusal phrasing, no agent-config snooping. That is not a guarantee, it is the absence of the things that are checkable.

skills/options/SKILL.md · 82 lines

How it starts

The opening of the file, as written. The whole thing — 82 lines — stays where its author put it; the contents beside it link to each section on GitHub.

Options — strategy framework

A framework for thinking about and constructing option positions. Based on McMillan's Options as a Strategic Investment (5e), Natenberg's Option Volatility & Pricing, and a handful of practitioner sources cited in the reference files.

Scope

This skill is the strategy layer:

  • Which structure fits which view (direction × magnitude × volatility × time)
  • How to size and stop
  • How to read Greeks
  • When to roll / close / let expire
  • Common spread mechanics and break-evens
  • Predictive indicators (put-call ratio, VIX, skew)

For live option data (chains, strikes, Greeks via IB) — use the ib-connector skill. Don't duplicate that logic here.

Workflow

When the user brings an options question:

  1. Identify what they're actually asking. Strategy selection? Risk/sizing? Greek interpretation? Roll decision? Assignment handling? Each goes to a different reference.
  2. Check regime — implied vol level (vs realized, vs history), skew direction, term structure. A sell-premium thesis only works in one regime; a buy-vol thesis only in another. (Pull realized vol from the underlying's price history; compare to current IV before committing.)
  3. Pick structure with explicit reasoning about max gain / max loss / break-even / margin requirement / commission drag.
  4. Size by Kelly fraction × your conviction tier, not by max-loss tolerance. See references/formulas-and-spreads.md (Kelly section).
  5. Pre-mortem: what does the position look like at -50% of remaining credit? At +50%? At 21 DTE? What's the assignment risk if assigned tonight? Don't enter without answers.

When to consult which reference

User is asking about Open this reference
Margin, assignment, roll mechanics, McMillan's 10 rules references/execution-and-philosophy.md
Intrinsic/extrinsic, break-even formulas, Kelly sizing, intermarket spreads, collar tables references/formulas-and-spreads.md
Put-call ratio, VIX interpretation, seasonal patterns, term-structure reading references/predictive-indicators.md
Breadth oscillator, TICKI, post-expiration reversal, systematic entry signals references/trading-systems.md

Read the full file on GitHub · 82 lines

Files

What ships with it

4 files beside SKILL.md in the same directory: the scripts, references and assets a skill reads on demand. Not counted in the per-session cost; read them before you install if any of them is executable.

Changes

What this file has done since we first saw it

Hashed on every crawl. A supply-chain change to an agent config is a question of when, not whether, so the history is kept rather than the latest state alone.

  1. 3d ago First seen · 82 lines · 163 tokens per session scan A e7157b96be8a

Subscribe to this mod's changes

options is a skill published in the GitHub repository oh-rid/claude-code-plugin-ib (5 stars, last pushed 3mo ago), licensed MIT. It adds 163 tokens to every session and 1,038 once invoked, about $0.0008 per session on Opus 5. A static security scan graded it A with 0 findings. No closer match exists in the catalogue, so it is treated as the original; first seen 2026-08-31.

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