The Options Strategy Builders, available on OIC's website, helps users develop and test two popular options strategies -- the collar and the covered call. Using the previous day's closing prices, the Options Strategy Builders can test multiple trade scenarios and visualize the potential profit and loss results in an easy-to-read graphic with no calculation required.

"Our goal in bringing our Options Strategy Builders to OIC is to popularize the use of options by encouraging people who may be unfamiliar with options trading to try out these popular strategies in a virtual trading environment," said Alex Zhigarev, COO at CBOE Vest Technologies. "Our user-friendly tool makes it simpler for users, regardless of their investing experience, to learn how collars and covered calls can be effectively used in an investment portfolio."

"We are thrilled to offer the Options Strategy Builders on the OIC website, as it will provide investors with the ability to better understand how the covered call and collar strategies work," said Mary Savoie, OIC Executive Director. "As a leading provider of unbiased options education, OIC is committed to helping investors, financial advisors, and market participants understand how these risk management products can provide valuable and versatile solutions for various investing goals."

To use the Options Strategy Builders, users first select which strategy builder to use, choose the stock or ETF symbol they'd like to test and then set the expiration date. The tool builds the strategy and displays the potential results. Users can also show option positions for more details and an explanation of the results.

The tool available on OIC's website is a portion of a broader platform offered by CBOE Vest Technologies. The complete platform, including expanded strategy testing and trade execution, is available with a CBOE Vest Technologies account and can be accessed through the CBOE Vest Technologies website.