The thinkBack tool is a thinkorswim feature designed for option back-testing. It stores nearly a decade of historical option trade data and allows you to back test strategies by entering hypothetical trades in this virtual trading environment.
The interfaces of the Analyze tab provide you with analysis techniques of many kinds, including simulation of "what-if scenarios" on both real and hypothetical trades, volatility and probability analyses, the Economic Data indicator database, and option back-testing. These interfaces are: Add Simulated Trades, Risk Profile, Probability Analysis, Economic Data, thinkBack, Fundamentals, and Earnings.
The video below is a brief overview of the Analyze tab.
The interface of the Add Simulated Trades tab may be quite reminiscent of that of All Products. The principal difference between these two tabs is what the name of the former refers to - here, you add simulated trades in order to analyze various scenarios before you confirm and send the real order. Watch the video below to learn how this interface works. Refer to the Risk Profile and Probability Analysis pages to learn how to analyze your simulated trades.