Calculator

Options payoff calculator

See your profit or loss at expiration for a long call, a long put or a covered call, with breakeven, maximum gain and maximum loss.

One standard U.S. equity option contract covers 100 shares. Results are at expiration only and ignore commissions, fees, taxes and early assignment.

At expiration

Breakeven stock price-
Maximum profit-
Maximum loss-
Cost (or credit) to open-
Stock at expirationProfit / loss

How it's calculated

Long call P/L = (max(0, S − K) − premium) × 100 × contracts

Long put P/L = (max(0, K − S) − premium) × 100 × contracts

Covered call P/L = (S − purchase price + premium − max(0, S − K)) × 100 × contracts

Options can lose their entire value. Read Options explained and The risks of options first.