Options Profit Calculator
See a single-leg options trade before you take it. Pick calls or puts, long or short, and get your profit or loss, breakeven, max profit and max loss — plotted on a payoff diagram.
One contract controls 100 shares. Premium is quoted per share, so total cost/credit = premium × 100 × contracts. This models the value at expiration only (no time value remaining).
Profit / loss at expiration
Free bonus
Get the free Options Payoff & Risk Cheat-Sheet
A one-page reference you can print and keep by your screen — the formulas and rules behind this calculator. We'll email it along with our Options Income Starter Kit (free lessons, no spam).
The calculator stays free — this is just a bonus reference. Unsubscribe anytime.
How to use the calculator
- Choose the option position — long call, long put, short call, or short put.
- Enter the strike, the premium per share, and how many contracts you're trading (each is 100 shares).
- Set the price at expiration you want to test. The result updates instantly.
- Read your P/L, breakeven, max profit and max loss, and watch where your price sits on the payoff diagram.
The four single-leg payoffs
Every single-leg option trade is defined by three numbers: breakeven, max profit and max loss. A long call costs the premium you pay (that's your max loss), breaks even at strike + premium, and has unlimited upside as the underlying climbs. A long put also risks only its premium, breaks even at strike − premium, and profits as the underlying falls — its max profit is (strike − premium) × 100 × contracts if the underlying goes to zero.
Selling flips the picture. A short call collects the premium as its maximum profit but carries theoretically unlimited risk if the underlying rallies, which is why it's usually only sold covered or as part of a defined-risk spread. A short put — the cash-secured put — also keeps the premium as its max profit and breaks even at strike − premium, with a max loss of (strike − premium) × 100 × contracts if the underlying collapses to zero. The calculator colours profit green and loss red so the risk side is always obvious.
Frequently asked questions
How do I calculate profit on a call option?
For a long call, profit at expiration = (the greater of underlying − strike or 0) − premium, multiplied by 100 shares per contract. You break even when the underlying rises to strike + premium. Below the strike the option expires worthless and you lose the premium you paid.
What is the breakeven on a put option?
For a put, breakeven = strike − premium. A long put profits as the underlying falls below that level; its maximum profit is (strike − premium) × 100 × contracts if the underlying goes to zero, and its maximum loss is the premium paid.
Why is max loss unlimited on a short call?
When you sell (short) a call, your profit is capped at the premium you collect, but there's no ceiling on how high the underlying can climb — so the loss has no theoretical limit. A short put is different: its max loss is (strike − premium) × 100 × contracts, reached only if the underlying falls to zero.
Does this include time value or Greeks?
No. This is a payoff-at-expiration calculator, so it assumes no time value remains — the option is worth only its intrinsic value. That's the standard way to see a trade's breakeven and max profit/loss. It does not model early exercise, assignment timing, or option Greeks before expiration.
More free trading tools
Get a Free Trading Guide
Pick the path that fits how you want to trade. Each guide is a practical PDF — enter your email on the page and we'll send it straight to your inbox.
Prefer to watch first? Watch the free training
Educational tool only — not financial advice. Options involve substantial risk and are not suitable for every investor. Also see our trading blog.