A tool that enables a user to perform instruction operand tracing during debug is presented. While executing microcode on a simulator, a history of register and memory values is saved. A graphic user interface uses these values to present a view of the microcode in a thread history. The user can use the thread history to select any given cycle time of the simulation, and switch over to a thread window (or code list view). The instruction that executed at the cycle of interest is marked in the code list view, and right-clicking on the code line, the user is given options, including an option to jump backward in time to the code line where a source variable was set and/or the option to jump forward in time to a code line that used a result variable.