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Options Profit Calculator
Model a call or put, bought or sold, and see the profit or loss at expiration across a range of stock prices. Get the break-even price, maximum profit and loss and a payoff chart. Informational only, not investment advice.
Last updated:
Option type
Position
$
$
shares
Standard US equity options cover 100 shares.
$
Centers the price range and shows P/L if the stock is still here at expiry.
$
Total paid to open, per contract. Use 0 to ignore.
Enter your values to see the result.
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How to use the Options Profit Calculator
- Choose call or put and whether you buy or sell the option.
- Enter the strike price and premium per share.
- Set the number of contracts, the multiplier (100 for US stocks) and commission.
- Enter the current stock price and the range of prices to test.
- Read the break-even, max profit and max loss, then check the payoff chart and table.
Option payoff formulas at expiration
At expiration an option is worth only its intrinsic value. For a stock price S and strike K:
| Position | Profit / loss per share | Break-even | Max profit | Max loss |
|---|---|---|---|---|
| Long call | max(S − K, 0) − premium | K + premium | Unlimited | Premium paid |
| Short call | premium − max(S − K, 0) | K + premium | Premium received | Unlimited |
| Long put | max(K − S, 0) − premium | K − premium | K − premium | Premium paid |
| Short put | premium − max(K − S, 0) | K − premium | Premium received | K − premium |
Multiply by the number of contracts × the multiplier (100 shares for standard US equity options) and subtract commissions to get the total profit or loss.
Example: one $100-strike contract, $4.50 premium
| Stock at expiry | Long call | Short call | Long put | Short put |
|---|---|---|---|---|
| $80.00 | -$450 | $450 | $1,550 | -$1,550 |
| $90.00 | -$450 | $450 | $550 | -$550 |
| $95.00 | -$450 | $450 | $50 | -$50 |
| $100.00 | -$450 | $450 | -$450 | $450 |
| $104.50 | $0 | $0 | -$450 | $450 |
| $110.00 | $550 | -$550 | -$450 | $450 |
| $120.00 | $1,550 | -$1,550 | -$450 | $450 |
The long call breaks even at $104.50 and the long put at $95.50. The short positions are the mirror image: the seller's profit is the buyer's loss, before commissions.
Before you trade options
- Most options lose value as expiration nears (time decay), so a long option can lose money even when the stock moves your way, if it moves too slowly.
- Selling uncovered (naked) calls has theoretically unlimited risk and usually requires a margin account and broker approval.
- American-style options can be exercised early, and short positions can be assigned before expiry.
- This calculator is for education. Options involve significant risk; read your broker's options disclosure document before trading.
Frequently asked questions
How do you calculate profit on a call option?
At expiration, profit per share = max(stock price − strike, 0) − premium paid. Multiply by 100 shares per contract and the number of contracts, then subtract commissions. For example, a $100 call bought for $4.50 with the stock at $110 earns ($10 − $4.50) × 100 = $550 per contract.
What is the break-even price of an option?
For a call it is the strike plus the premium; for a put it is the strike minus the premium. Commissions move the break-even slightly further away for buyers. Above (call) or below (put) that price the buyer makes money at expiry.
What is the maximum loss when buying an option?
When you buy a call or put, the most you can lose is the premium you paid plus commissions, which happens if the option expires worthless.
Why is the risk of selling a call unlimited?
A short call obliges you to sell shares at the strike price. If the stock rises without limit, so does the cost of covering that obligation, unless you already own the shares (a covered call).
Does this calculator show the option value before expiration?
No. It shows the payoff at expiration only. Before expiry the option's market price also includes time value, which depends on time left, volatility and interest rates; a pricing model such as Black-Scholes is needed for that.
Is this investment advice?
No. It is an educational tool to understand option payoffs. Options are risky and not suitable for every investor.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.
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