Options Profit Calculator (Calls & Puts)
This free options profit calculator helps you estimate profit, loss, and breakeven
on common options trades using a clear payoff chart. Use it for call options and put options, and explore
strategy calculators like Iron Condor, Covered Call, and Bull Put Spreads.
How to Use This Options Trading Calculator
Enter the strike price, premium, underlying price, and number of contracts,
then click Calculate. The chart shows the payoff at expiration and the Results panel shows breakeven, max profit, and max loss.
Breakeven Formulas
Long Call breakeven is typically Strike + Premium. Long Put breakeven is typically
Strike − Premium. Your broker pricing and real-time option value can differ because true pricing depends on implied volatility,
time to expiration, and rates.
Popular Strategy Calculators
Jump directly to strategy pages (each is an option strategy + calculator page):
Note on Accuracy
This page uses an intrinsic-value payoff model at expiration. Real option prices also depend on
implied volatility (IV), time decay (theta), interest rates, and dividends.
Options Calculator FAQ
What does an options profit calculator do?
It estimates the payoff at expiration for call and put options, plus breakeven and basic max profit/loss, using your strike and premium inputs.
Does this include implied volatility and Greeks?
This home page uses a payoff-at-expiration model. Real-time option pricing depends on IV, time, rates, and dividends.
Where can I calculate strategy payoffs like Iron Condor or Covered Call?
What is the breakeven price for a call option?
For a long call at expiration, a common breakeven estimate is Strike + Premium.
Above that price at expiration, the position is typically profitable (ignoring fees).
What is the breakeven price for a put option?
For a long put at expiration, a common breakeven estimate is Strike − Premium.
Below that price at expiration, the position is typically profitable (ignoring fees).
Does this calculator include commissions and fees?
No. Results are shown before commissions, exchange fees, and assignment/exercise costs. If you pay fees, your real breakeven can be slightly different.
Why does my broker P&L differ from this chart?
This chart shows payoff at expiration using intrinsic value. Your broker shows mark-to-market value, which depends on time to expiration, implied volatility, and bid/ask spreads.
What does “max loss” mean for long and short options?
For long options, max loss is usually limited to the premium paid. For short calls, risk can be very large (often described as “unlimited”),
and for short puts risk increases as the underlying falls.
Can I use this calculator for multiple contracts?
Yes. Enter the number of contracts. Each contract represents 100 shares, so the calculator scales the payoff by 100 × contracts.
What is intrinsic value vs extrinsic value?
Intrinsic value is the in-the-money amount at a given price. Extrinsic value (time value) reflects volatility and time remaining. This page focuses on intrinsic value at expiration.