Long Call Option Calculator
Use this free Long Call Calculator to estimate the payoff of buying a call option at expiration. A long call is a bullish options strategy where you buy a call to benefit from a rise in the underlying price. This calculator estimates the breakeven, maximum loss (premium paid), and the profit/loss payoff curve at expiration.
What Is a Long Call?
A long call gives you the right (not the obligation) to buy the underlying at the strike price (K) before expiration. At expiration, the call’s intrinsic value is max(0, S − K). Your approximate payoff at expiration is max(0, S − K) − premium per share (before fees).
Long Call Breakeven Formula
A common breakeven estimate for a long call at expiration is: Breakeven = Strike Price + Premium.
Risk & Reward
A long call has limited risk and theoretically unlimited upside. The maximum loss is typically the premium paid. If the underlying rises significantly above breakeven, profits can increase substantially.
When Traders Use Long Calls
Traders often buy calls when they expect an up move, want defined risk exposure to upside, or prefer leverage versus buying shares. Before expiration, option prices can change due to implied volatility, time decay, and bid/ask spreads.
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Compare with: Long Put Calculator, Bull Call Spread Calculator, Covered Call Calculator.