One option feature that I have used and found to be very useful is the price calculator. This nifty feature provides estimated price for option given the underlying price, IV and risk-free rate (all values can be adjusted or use current/defaults). Additionally, we can also adjust the date (days to expiry) to see how the price change depending on how many days left from expiry.
Screenshot below for$Tesla (TSLA.US)$185.00 Call option with expiry date 26-May-2023. When the underlying price is adjusted to 165, the tool gives us the theoretical price which we can use to plan our entry.
How cool is that!
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