Options basics

Options Profit/Loss Calculator

Model a single call or put option at expiration. Enter the strike, premium and contract count to see breakeven, max profit, max loss and a full payoff diagram.

—P/L at test price
—Breakeven price
—Max profit
—Max loss
Assumes standard 100-share contracts, held to expiration, and does not include commissions.

Calculated on your device. Nothing is uploaded or stored on a server.

How to use the options profit/loss calculator

Choose whether you're modeling a call or put, and whether you bought (long) or sold (short) it. Enter the strike price, the premium you paid or received per share, and how many contracts. Adjust the test price to see the exact profit or loss at any underlying price at expiration.

How option payoffs work at expiration

An option's value at expiration depends only on where the underlying price ends up relative to the strike. A call is worth max(price − strike, 0) per share; a put is worth max(strike − price, 0) per share. A long position's profit is that value minus the premium paid; a short position's profit is the premium received minus that value. Multiply by 100 shares per contract and the number of contracts for the total.

Long options: limited risk

Buying a call or put limits your maximum loss to the premium paid, while a long call has theoretically unlimited upside.

Short options: limited reward

Selling an option caps your maximum gain at the premium received, while a short call carries theoretically unlimited risk if the price keeps rising.

Options profit/loss calculator FAQ

Common questions, answered.

How is breakeven calculated?

For a call, breakeven is the strike price plus the premium. For a put, breakeven is the strike price minus the premium — the same formula applies whether the position is long or short.

Why is my max profit shown as Unlimited?

A long call has theoretically unlimited profit potential because the underlying price has no upper limit. Similarly, a short call has theoretically unlimited loss potential.

Does this include time value before expiration?

No. This calculator only models the payoff at expiration, when an option's value is purely intrinsic. Before expiration, an option's price also reflects time value and implied volatility.

What does the payoff diagram show?

The chart plots profit or loss (vertical axis) against the underlying price at expiration (horizontal axis) across a realistic price range around the strike, with a marker at your chosen test price.

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