Thetary

What is Thetary?

Thetary is an innovative options journal^[1] designed specifically for traders who engage in options strategies, particularly the wheeling strategy. It aims to simplify the process of tracking trades, calculating true cost basis^[3], and providing deep performance insights. By eliminating the need for cumbersome spreadsheets, Thetary allows users to visualize their trading performance^[2] effectively, making it easier to understand their growth and improve their trading strategies. The platform is built to enhance the trading experience, offering features like public journals for sharing trading journeys and insights.

How to use Thetary?

1. Sign up for a free account on Thetary's website.
2. Access the Tradepad to log your trades manually, entering details such as trade type, cost basis, and any relevant notes.
3. Utilize the performance summary^[4] feature to review your overall profit and loss, as well as insights into specific product types.
4. Monitor your open positions^[5] to keep track of your active trades, including their cost basis and market value.
5. Engage with the community by sharing your journal entries and insights to foster learning and accountability.

What are the main features of Thetary?

• Comprehensive Portfolio Overview: Get a complete snapshot of your options trading performance, including daily and overall P&L, open positions, and cash balance.
• Performance Summary: Clear insights into overall profit and loss, profit by product type, and realized vs. unrealized P&L.
• Open Positions Tracking: Monitor active trades with details on cost basis, moneyness, delta, and theta.
• Closed Positions History: Access a detailed history of closed trades for easy reference.
• Benchmarking Tools: Compare your portfolio's performance against market benchmarks or buy-and-hold strategies.
• Premium Calendar: Track daily premium earnings and visualize income generation.
• Tradepad: A flexible tool for logging trades across various asset types.
• Event Management: Automatically manage trades related to significant market events.
• Risks Matrix: Visualize potential gains and losses across different market scenarios.

Who is Thetary for?

Thetary is designed for options traders, particularly those utilizing strategies like covered calls and cash-secured puts. It caters to both novice and experienced traders looking for an organized and efficient way to track their trades and performance. This tool is ideal for individuals who are tired of managing complex spreadsheets and want a streamlined approach to monitor their trading activities. Additionally, Thetary appeals to those who value community support and shared learning experiences, as it enables users to share their trading journeys and insights.

What are the use cases of Thetary?

1. Tracking Options Trades: Users can log and track various options trades, including complex strategies, to maintain an accurate performance record.
2. Analyzing Performance: Traders can utilize Thetary's performance metrics to assess their trading strategies and identify areas for improvement.
3. Community Engagement: Users can share their trading journals with others, fostering a supportive community for learning and accountability.
4. Managing Cost Basis: The platform helps users calculate and manage their cost basis accurately, ensuring better financial decision-making.
5. Event-Driven Trading: The event management feature allows traders to stay organized and respond effectively to significant market events.