Decide your risk before you click. Enter your account, the % you'll risk, your entry premium and your stop — get the max contracts that keeps a stop-out to exactly the risk you chose.
The stop is where you'd bail on the option — e.g. 30% means you cut it if it loses 30% of the premium.
For education only — not financial advice. Position sizing manages risk; it does not remove it. Options involve significant risk of loss.
Sizing is half the battle — knowing where the structure sits is the other. NoVo maps live dealer positioning on SPY, QQQ and IWM, recomputed every 60 seconds, with a written desk note every session.
Start the 7-day free trial — $129/mo →Position sizing is the difference between a bad trade and a blown account. The rule most disciplined traders live by: risk a fixed small percentage of your account per trade — often 1–2% — so no single loss can hurt you, and a losing streak can't wipe you out. This calculator turns that rule into a contract count.
Dollar risk = account × risk%. Loss per contract at your stop = entry premium × stop% × 100 (each contract is 100 shares). Max contracts = dollar risk ÷ loss per contract, rounded down. Size to that number and a stop-out costs you exactly the percentage you chose — no more.
0DTE options move fast and can go to zero, so oversizing is the fastest way to ruin. Fixing your risk before you click removes the emotion — you already know the worst case. Decide the stop before you enter, size to it with the math above, and honor it. More in the 0DTE Guide.
The member portal — delayed dealer levels with the gamma flip and the expected-move band on SPY, QQQ and IWM, plus sectors, movers and the week’s catalysts. Dr. NoVo’s Mid-Day Tape Review every trading day and the Week Ahead on Sundays. And the NoVo Discord: live discussion and Dr. NoVo’s daily dealer-map read.
Create your free account Join the new NoVo Discord →Market data on this page is delayed and provided for general information only — it is not financial advice or a recommendation to trade. VIX/VXN/RVX are ~15-minute delayed (CBOE); index values use E-mini futures. Options trading involves significant risk of loss. © 2026 NoVo Options Trading.