Ratio Spread Trading Journal — Track NSE Ratio Spreads in CernoQuant
Journal your NSE Ratio Spread trades in CernoQuant. Track net credit/debit, naked leg risk, and margin usage. behavioral analytics — free to start.
Strategy structure — legs
Buy 1 option (long leg)
ATM or OTM
Sell 2 (or more) options (short legs)
Further OTM (same expiry)
P&L profile
Net credit received + maximum spread gain if underlying moves to short strikes
Unlimited beyond the short strikes if naked legs are tested (requires active management)
Greeks at entry
Delta (Δ)
Slightly directional depending on ratio and strikes chosen
Theta (Θ)
Positive — net short premium earns theta decay
Vega (ν)
Negative — excess short options hurt on IV expansion
What to journal for every Ratio Spread trade
- Ratio used (1:2 or 1:3)
- Net credit or debit at entry
- Margin required for naked short legs
- Exit plan if underlying approaches short strikes
- IV at entry (ratio spreads need moderate-to-high IV for worthwhile credit)
Common Ratio Spread mistakes to avoid
- No exit plan for the naked short leg — unlimited loss if underlying trends strongly
- Using ratio spreads without adequate margin buffer
- Entering in low-IV environments — insufficient credit for the risk taken
Frequently asked questions — Ratio Spread
How do I journal a ratio spread in CernoQuant?
Enter the long leg and both short legs tagged with the same strategy name. CernoQuant shows net credit and aggregate ratio spread P&L.
What is the biggest risk of NSE ratio spreads?
The naked short legs beyond the hedge. CernoQuant tracks your ratio spread outcomes and flags when the position went beyond the short strikes — helping you build better adjustment rules.
When are ratio spreads suitable for NSE traders?
Ratio spreads work best in moderate-IV, range-bound markets with clearly defined support/resistance. CernoQuant tracks your ratio spread win rate by market regime and IV percentile.
Related F&O tools
Other F&O strategies
Start journaling your Ratio Spread trades today
Free during beta. Native Zerodha, Dhan, and Angel One sync. NSE F&O analytics built in.
Journal Ratio Spread FreeEducational content only. Not investment advice. Options trading involves significant risk. CernoQuant is not a SEBI-registered investment advisor. Trading decisions are your sole responsibility.