Free calculator
Options profit calculator
Model any supported option position and see max profit, max loss, breakevens and the payoff diagram at expiration.
Position
Legs
Result
- Net debit / credit
- $160.00
- Max profit
- $160.00
- Max loss
- -$340.00
- Breakeven
- $93.40
- Capital at risk
- $340.00
- Return on risk
- 47.06%
| Move | Underlying | P/L |
|---|---|---|
| -20% | $80.00 | -$340.00 |
| -10% | $90.00 | -$340.00 |
| -5% | $95.00 | $160.00 |
| spot | $100.00 | $160.00 |
| +5% | $105.00 | $160.00 |
| +10% | $110.00 | $160.00 |
| +20% | $120.00 | $160.00 |
Assumptions and limits
- The diagram values the position at expiration and assumes the legs are held to expiration.
- A single underlying price is used for every leg; dividends, early assignment and American exercise are not modelled.
- Results are pre-fee and pre-slippage.
How the profit calculator works
The calculator builds your position from its option legs and evaluates the value of each leg at expiration. Profit and loss is the sum of the intrinsic value of every leg minus the premium paid, plus any attached share position.
Because the payoff of an option portfolio is piecewise linear in the underlying, the maximum profit, maximum loss and breakeven are exact for the strikes you enter, not a sampled estimate.
Reading the results
The net debit or credit is the cash paid or received at entry. Max profit and max loss describe the position at expiration, and the breakevens are the underlying prices where the position is worth exactly zero.
- Debit strategies pay cash to open and profit from a move or from volatility.
- Credit strategies receive cash and profit when the position decays toward zero.
- Undefined-risk positions show an unbounded max profit or max loss rather than a number.
FAQ
- Is this calculator free?
- Yes. Every calculation runs in your browser with no signup.
- Does it include commissions and slippage?
- No. Enter net premiums you expect to fill at; commissions, fees and slippage are not modelled.
- Which strategies are supported?
- Long calls and puts, cash-secured puts, covered calls, vertical spreads, iron condors, straddles and strangles.
- Why is max profit unbounded for a long call?
- A long call has no upper limit on the underlying, so the theoretical profit is unbounded.