Why options traders need a journal
Options move fast, decay every day and come with brokerage, STT and exchange charges on every order. It’s easy to remember the 3x premium on expiry day and forget the slow drain of small stop-losses, revenge trades and overtrading. A journal shows the truth in R: which setups, instruments and hours pay, how your expiry day compares with the rest of the week, and what each habit costs.
What Profit Prism tracks for options
Strike, CE / PE, expiry, lots
Each trade keeps the underlying, strike, option type and expiry, with quantity as lots × lot size — every trade card shows exactly what you traded, and results group by instrument.
Win rate, RR and R per setup
Every trade is measured in R (profit ÷ risk). Strategy cards show trades, win rate, average R and profit factor — ORB, breakout, expiry scalp, whatever you trade.
Brokerage and taxes
Save your broker’s charges once; they fill in on every trade, so your P&L and R are after costs. Averaging in and partial exits are handled.
Hours and days
A win-rate heatmap for every hour and results by weekday show whether your opening hour, lunch hour or expiry day is where the money goes.
Day View and calendar
Each day’s trades, P&L in ₹, net R and a note in one place — the review you skip when the day went badly.
Loss limits and discipline
Daily and weekly loss limits in R, mood tags (FOMO, revenge…) and a daily rules checklist, with a warning before you blow through the limit.
What to log for each options trade
| Field | Example | Why |
|---|---|---|
| Underlying, strike, type, expiry | BANKNIFTY 54000 PE, weekly | Results by instrument and weekday |
| Entry, stop, lots | ₹310 · ₹270 · 1 lot of 35 | Defines 1R = ₹1,400 |
| Exit(s) and charges | ₹268 · ₹60 | Your real result after costs |
| Setup, time and mood | Reversal · 10:40 · fear | Which setups and hours pay, which emotions cost |
| Rules followed? | No — moved the stop | Puts a price on each mistake |
Sizing a trade? The position size calculator turns your risk and stop into whole lots for Nifty and BankNifty options — rounded down, so you never risk more than you planned.
Do I need to connect my broker?
No. Profit Prism is a manual journal on purpose: typing the entry, stop and reason makes you review the trade, and you never share your broker login. Have a tradebook already? Export it as CSV and use Import CSV — you match the columns once.
Frequently asked questions
What is an options trading journal?
A record of every options trade — underlying, strike, call or put, expiry, entry, stop, lots, exit, charges, setup and how you felt — used to measure win rate, risk:reward and results by setup, weekday and hour.
How do I record lots in the journal?
Enter quantity as lots × lot size (1 lot of 75 = 75). Use the option premium for entry, stop and exit; the journal works out the money and the R.
Does it include brokerage and taxes?
Yes. Save your broker’s charges as a fee preset (a percentage and/or a flat amount per order); they are added to each trade so your results are after costs. You can also type the exact charges.
Does it work for US options too?
Yes. Use contracts × 100 as the quantity and $ as the currency. Rupee and dollar results are kept apart.
Is there a free options trading journal?
Our free trading journal template for Excel and Google Sheets works for options, and Profit Prism Journal has a 7-day free trial with no card.
Start journaling your options trades
7 days free, no card. Log a week of trades and see your win rate, RR and R by setup, weekday and hour.
Start the free trial Position size calculatorFor education only. Not investment advice. Options trading involves substantial risk of loss.