Investment Lab
Stocks, cash, regular investing and retirement withdrawals.
Open Investment LabYOUR RESEARCH WORKSPACE
Choose the question.
Open the right lab.
Explore retirement, investing and options with simulations whose assumptions you can inspect.
The free covered call lab needs no account at all. The hosted labs require an active trial or subscription — new here, start with the Investment Lab or RMD & Household Tax Lab.
A payment method is required. You are not charged for 14 days. The trial does not cancel itself — it becomes a paid plan unless you cancel first, which you can do at any time from your account page. How the free trial works, and how to cancel.
Retirement & investing
Household decisions, long-term portfolios and withdrawal rules.
RMD & Household Tax Lab
Compare IRA withdrawals, Roth conversions and modeled household taxes.
Open RMD & Household Tax LabSignal Lab
Does a quarterly target rule protect a portfolio, or just cost return?
Open Signal LabOptions strategies
Explore how strategy rules and market assumptions affect outcomes.
Covered Call Pro
Study shares plus short calls, including rolling and assignment.
Open Covered Call ProCSP / Wheel Pro
Compare cash-secured puts and the full Wheel cycle.
Open CSP / Wheel ProLEAPS Pro
Compare long-dated calls with a stock investment.
Open LEAPS ProPMCC Pro
Study long-dated calls paired with repeated short calls.
Open PMCC ProLEAPS Short-Call Strike Calculator
Use your actual costs and premiums to compare strikes and check whether assignment would recover your net investment. Manual inputs; no API.
Open Strike CalculatorConditional Edge Lab
When does a covered call actually have an edge?
Open Conditional Edge LabMarket analysis
Read the conditions a strategy would have to survive.
Regime Lab
What market state are we probably in, and is it likely to persist?
Open Regime LabYour research workspace
Run your own experiments and keep what you find.
Research Console
Turn a research question into a structured experiment.
Open Research ConsoleResearch Library
Review saved research experiments and results.
Open Research LibraryFinished studies
Completed research with published methods, results and rerunnable comparisons.
Do Short Calls Really Improve a LEAPS Strategy?
PMCC-001: short calls increased terminal wealth in 92 of 96 baseline historical-model configurations; median improvement $11,266. Without an assumed IV premium, only 59 of 96 improved. These are overlapping model runs, not independent trials or real option-chain backtests.
Read findings and run the comparison →Browse all finished studies →Research you can run yourself
The studies on the research site are Mark L. Morrissey’s own, not a reading list of other people’s papers. Each one has a stated question, a frozen protocol and a published finding — and each one is a simulation you can open and run. The assumptions that change the answer are exposed as controls rather than buried, so you can take any study, put your own numbers in the withdrawal rate or the horizon or the seed, and run it again in your browser in about a second. A result you cannot stress is a picture, not a finding.
For example: a retiree holds nothing but T-bills at 4% — at what yield does that beat owning the index? and do covered calls make a retirement safer, or just feel safer?
Build your own investment website
From Simulating Trading and Investment Strategies: Use ChatGPT to Explore Possible Market Outcomes before You Risk Your Money, by Mark L. Morrissey.
The book walks you through putting your own copy of this site online. This is the companion file it asks you to upload: a standalone version of the Investment Lab, yours to host under your own name. The calculations run in the browser, so it needs no account, no subscription and no keys.
Paperback and Kindle. The companion file is free and needs no account.