Default view is ±10% around the breakeven point.
Increase to expand the view (helpful to model bigger upside moves).
Results
Breakeven (Expiry)$0.00
Max Profit$0.00
Max Loss$0.00
Payoff Chart (Expiration)
Chart is centered around breakeven by default (±10%). Adjust range to expand.
Long Call Options Strategy (Buy Call)
A long call (also called a buy call) is a bullish options strategy that can profit
if the underlying stock price rises above the breakeven point by expiration. Your risk is typically
limited to the premium paid, and profit potential is often considered unlimited (theoretically).
Long Call Breakeven
A common breakeven estimate for a long call at expiration is:
Breakeven = Strike Price + Premium Paid.
If the underlying is above breakeven at expiration, the position is typically profitable (ignoring fees).
Max Profit and Max Loss
Max loss is usually the premium paid (per share) × 100 × contracts.
Max profit is theoretically unlimited because the underlying could keep rising.
When Traders Use Long Calls
Long calls are commonly used to express bullish directional views with defined risk, or to gain upside exposure
with less capital than buying shares outright. Real option prices before expiration depend on implied volatility (IV),
time decay (theta), and bid/ask spreads.
Long Call Calculator FAQ
Is my risk limited on a long call?
Typically yes. For a long call, max loss is usually the premium paid (plus fees/commissions).
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.
Does this calculator include Greeks and IV?
No. This is an expiration payoff model. Greeks and IV affect option value before expiration.
What happens if the stock rallies hard?
At expiration, a long call’s intrinsic value is (Underlying − Strike) if in-the-money. As the underlying rises, profit increases above the breakeven point.