Historical replay

Historical replay lets you paper trade any past trading session with full control of the clock. It's the best way to study setups, rehearse a strategy by hand, or see exactly how a trade would have evolved through the day.

Choosing a day

Open Historical and pick a date — you can replay every date we have on record. The trading screen loads the option chain and market data for that session, parked at the open.

Controlling time

The defining feature of historical mode is the clock. You can:

• Jump to any time between the open and the 4:00 PM ET close.
• Advance forward to watch positions mark-to-market and pending orders fill as their conditions are met.
• Rewind to before a trade — orders that hadn't filled by that point revert to pending, and later trades drop out of view.

Moving time is read-only: it recomputes your positions, delta, P&L, and buying power at the new moment without ever changing your orders. Nothing is destroyed when you rewind, so you can replay a day as many times as you like.

Trading the replay

Everything else works like live trading: build orders from the chain, track positions and their payoff chart, and review your orders and transactions in the activity view. Because you control the clock, you can place a limit order, jump forward to see whether and when it filled, then rewind and try a different price — a fast way to develop intuition for how 0DTE setups behave.

Pending orders and time travel

When you place a limit or stop that isn't immediately marketable, the simulator scans the rest of the session and pre-computes exactly when (if ever) it would fill. Advance past that moment and the order shows as filled with its trades visible; rewind before it and the order returns to pending. This makes "what would have happened" questions instant to answer.

End of day

Advance the clock to 4:00 PM ET and the session settles automatically: in-the-money options exercise or assign, out-of-the-money options expire worthless, and the results land in your realized P&L. See End-of-day settlement.

From manual replay to automation

Replaying a day by hand is great for learning, but to test an idea across many days at once, encode it as a strategy and run a backtest. The strategy builder turns a setup into a reusable, testable strategy.