Credit Spreads · Iron Condors · Defined Risk

Know your risk and your return on every spread you sell.

Spread Ledger is a one-file tracker for credit-spread sellers — automatic max loss, Return on Risk, live quotes with probability of profit, and the management flags that keep winners from becoming losers. No subscription. Your data never leaves your browser.

🎮 Try the Live Demo See Editions & Pricing

$0.95 credit on a $5 wide → RoR 23.1%

Short strike Δ .28 → POP ~72%

62% of max profit captured → 🏁 consider closing

19 days left → ⏰ 21-DTE rule

Editions

Three editions, one file each.

Every edition is a single HTML file you own forever. Start where you are — the format never changes, so moving up is painless.

🌱

Starter

$9.99 one-time

The spread logbook — for your first credit spreads.

Bull put & bear call spreads, both legs
Auto width, max loss, break-even & RoR%
⏰ 21-DTE management flag + attention banner
Theta-per-day on every open position
Monthly credit chart & expirations list
CSV export & JSON backup · dark mode

🛒 Get Starter on Etsy Try the demo →

Plus

$19.99 one-time

For active sellers — trade it live, see it priced.

Everything in Starter
📡 Live quotes — natural credit, cost-to-close, unrealized P&L
🎲 POP — probability of profit from real deltas
📊 Profit Matrix — P&L across ±10% moves
🏁 50%-of-max-profit take-profit flag
🔁 One-click rolls
📄 Anonymized HTML Trade Report

🛒 Get Plus on Etsy Try the demo →

🦅

Pro

$29.99 one-time

The strategist — find the setups that actually pay.

Everything in Plus
🦅 Iron condors — broker-accurate margin math
📁 Multiple portfolios (IRA, taxable, paper)
🔁 Roll campaigns with cumulative chain credit
🎯 Premium Goal — weekly target, per-symbol %/yr
🧠 Win rate by symbol, width & DTE + expectancy

🛒 Get Pro on Etsy Try the demo →

Features

Built for how spread sellers actually trade.

Credit spreads win often and lose big. Spread Ledger automates the discipline that makes the math work.

📐

Risk math, automatic

Enter both legs and the app computes width, max loss, break-even, Return on Risk, and annualized return as you type — with warnings for inverted legs, credit ≥ width, and duplicate positions.

🏁

50%-profit flag

When a live quote shows you've captured half the max profit, the Manage column says so — the classic mechanical take-profit rule, applied for you.

⏰

21-DTE rule

Inside 21 days, gamma risk grows fastest. Every position crossing the line gets flagged, and a banner on the Overview lists everything needing attention.

🎲

Probability of profit

Quotes carry the short strike's real delta, so POP shows right under RoR — the market's own odds your spread expires in your favor.

📡

Live quotes

A free Polygon.io key prices both legs: natural credit when you enter, cost-to-close and unrealized P&L while you hold. Free-tier friendly pacing built in.

📊

Profit Matrix

P&L at expiration across underlying moves from −10% to +10% — see exactly where the cliff is and how much cushion your short strike has.

🔁

Rolls & campaigns

Close and reopen in one form with a net credit-or-debit preview. Rolls chain into campaigns, so you know if the whole rescue was worth it.

🎯

Premium Goal

Set a target annualized return on your risk capital — weekly progress bar, 12-week history, per-symbol targets, and a gentle nudge when reality disagrees.

🧠

Analytics that teach

Win rate by symbol, by spread width, by DTE bucket, plus expectancy per trade. Learn which setups actually pay you — from your own history.

⏱

Theta per day

Every open position shows what holding it pays you per day — decay made visceral.

📄

Shareable Trade Report

One click exports a polished HTML report — KPIs, positions, win rate — with no name, portfolio, or identifying details. Safe to post publicly.

🔒

Your data, your machine

Everything lives in your browser's local storage. JSON backup and restore, CSV for tax time, no account, no server, no tracking.

Compare

Which edition is right for you?

Same file format, same design — each tier matches how far you've taken the strategy.

Feature	🌱 Starter	✨ Plus	🦅 Pro
Bull put & bear call spreads	✓	✓	✓
Auto max loss, break-even & RoR%	✓	✓	✓
⏰ 21-DTE flag + attention banner	✓	✓	✓
Theta-per-day	✓	✓	✓
Charts, CSV export, JSON backup, dark mode	✓	✓	✓
📡 Live quotes & unrealized P&L	—	✓	✓
🎲 POP (probability of profit)	—	✓	✓
🏁 50%-profit take-profit flag	—	✓	✓
📊 Profit Matrix	—	✓	✓
🔁 One-click rolls	—	✓	✓
📄 Anonymized Trade Report	—	✓	✓
🦅 Iron condors	—	—	✓
📁 Multiple portfolios	—	—	✓
🔁 Roll campaigns (chained credit)	—	—	✓
🎯 Premium Goal with per-symbol targets	—	—	✓
🧠 Win-rate analytics & expectancy	—	—	✓

FAQ

Questions

Is this really just one HTML file? ⌄

Yes. Download it, double-click it, and it runs in your browser — Mac, Windows, or Linux. No installation, no account, no server. Your trades are stored in your browser's local storage and never leave your machine.

Do live quotes cost anything? ⌄

Quotes use a free API key from polygon.io (takes two minutes to get). The free tier allows about 5 requests per minute, and Spread Ledger paces itself automatically to stay inside it. Without a key, everything except live pricing still works.

What are the 🏁 and ⏰ flags? ⌄

Two mechanical rules spread sellers live by: take profits at 50% of max profit (the remaining credit rarely justifies the remaining risk), and manage positions at 21 days to expiry (where gamma risk grows fastest). Spread Ledger watches both for you.

Can I upgrade editions later? ⌄

Yes — export a JSON backup from your current edition and import it into the new one. Same data format across all three.

Does it work with my broker? ⌄

Spread Ledger is broker-independent — you log trades yourself (the form takes seconds, with quick picks and live credit fill). That means it works with every broker, and your record survives broker switches.

Is this financial advice? ⌄

No. Spread Ledger is a record-keeping and education tool. The flags implement widely-taught mechanical guidelines, but every decision — and its outcome — is yours.