Options Profit Calculator
Build a position one leg at a time — or start from a strategy — and see exactly what it makes and loses at expiration, where it breaks even, and what the payoff looks like.
Bullish. Defined risk, unlimited upside.
Legs
1 contract = 100 sharesShow the numbers as a table ▾Hide the table ▴
| Stock at expiry | Profit / loss |
|---|---|
| $73.75 | −$300.00 |
| $80.94 | −$300.00 |
| $88.13 | −$300.00 |
| $95.31 | −$300.00 |
| $102.50 | −$300.00 |
| $109.69 | $168.75 |
| $116.88 | $887.50 |
| $124.06 | $1,606.25 |
| $131.25 | $2,325.00 |
Preset premiums are placeholders that put the right shape on screen — replace them with real prices from a chain. This is the payoff at expiration, which is exact arithmetic; before expiry a position is worth more than its intrinsic value, and how much more is a modelling question, not this one.
Options profit calculator, explained
Is this the profit at expiration or before it?
At expiration, and that is a deliberate choice. At expiry an option is worth precisely its intrinsic value, so every number here is exact arithmetic with no model behind it — no volatility input, no assumption about how returns are distributed, nothing that can be wrong. Before expiry an option carries time value on top of intrinsic, and working out how much takes a pricing model and a guess at implied volatility. That is a different question, and the probability calculator is where we answer it.
Why does it say max loss is unlimited?
Because it is. Any position whose payoff still slopes downward above the highest strike — a naked short call, a short straddle, a ratio spread with more sold than bought — has no worst case, since there is no ceiling on the stock. The downside is always bounded, on the other hand, because a stock cannot go below zero, so a max loss on the put side is a real number however large it looks.
Why can a position have two break-evens?
Because the payoff is a bent line, not a straight one, and it can cross zero more than once. A straddle breaks even on both sides of the strike; an iron condor breaks even just inside each short strike and is profitable only between them. The calculator finds every crossing rather than assuming there is one.
Are the premiums it fills in real prices?
No, and it will not pretend otherwise. Picking a strategy fills in placeholder premiums so the right shape appears with the right number of legs — replace them with real prices off a chain before you read anything into the numbers. Quoting invented premiums as though they were market prices is the one thing a calculator has no business doing.
Does it handle stock, not just options?
Yes — set a leg to Stock and it counts as 100 shares per lot, so a covered call is one stock lot against one short call and the two scale together. That is what makes covered calls, collars and protective puts come out right instead of being modelled as bare options.
Where do I find candidates to run through it?
Discover screens the whole optionable universe daily, and every ticker has a max pain, IV rank and gamma page. If you are sizing around an earnings date, the Options Desk has the implied move for every company reporting this week.
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Educational, not investment advice. These are standard models applied to the numbers you enter — they describe what the maths implies, not what the market will do.