Options profit calculator
Work out profit, loss, breakeven and return for a long call or put — at expiration.
Runs 100% in your browser- Profit / loss
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- Return
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- Breakeven
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- Cost
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- Max loss
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- Max profit
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Payoff at expiration
| Stock price | Profit / loss | Return |
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How to calculate options profit
- Choose call or put. Pick the option type you bought.
- Enter strike, premium and contracts. Type the strike price, the premium per share you paid, and how many contracts.
- Set the expiration price. Enter a stock price at expiration to see profit, return and the payoff table.
Reading an options payoff at expiration
The profit on a bought (long) option at expiration depends only on where the stock lands relative to your strike, minus what you paid for it. A call gains as the stock rises above the strike; a put gains as it falls below the strike. Below (call) or above (put) the strike the option simply expires worthless and you lose the premium. This calculator turns those rules into the numbers that matter: the dollar profit or loss across stock prices, the breakeven, and the percentage return — scaled by the 100-share contract multiplier so the figures are real money, not per-share quotes.
Breakeven, defined risk, and the cost of being "almost right"
Two things trip up new option buyers. First, breakeven isn't the strike — it's the strike plus (call) or minus (put) the premium, so the stock has to move past the strike by at least what you paid before you make a cent. Being directionally right but only a little isn't enough. Second, the appeal of buying options is defined risk: the most you can lose is the premium, no matter how far the stock moves against you, while a call's upside is theoretically unlimited. That asymmetry is genuinely useful — but it's balanced by the fact that the entire premium is at stake on every trade.
Why time works against a buyer
An option is a wasting asset. Part of its price is time value that erodes to zero by expiration, so even a correct call can lose money if the move is too small or arrives too late — a major reason most long options expire worthless. That's why this expiration-only view is just the starting point. To value a position before expiry, where time value and volatility still matter, use the Black-Scholes calculator; to gauge how far the stock is likely to move in the time you have, the expected-move calculator sets realistic expectations.
Educational tool only — not financial advice. Options trading carries a high level of risk, including the loss of your entire premium, and is not suitable for every investor.
Frequently asked questions
- At expiration, a call is worth max(stock price − strike, 0) and a put is worth max(strike − stock price, 0), per share. Profit = (that value − the premium you paid) × contracts × 100. This calculator does it for you and also shows your breakeven and return.
- A standard US equity option contract controls 100 shares of the underlying stock. So a premium quoted as $2.50 actually costs $250 per contract, and every $1 move in the option's per-share value is worth $100 per contract. The calculator handles this multiplier so your figures reflect real dollars, not per-share quotes.
- For a long call it is the strike plus the premium; for a long put it is the strike minus the premium. Above (call) or below (put) that price, the trade is profitable at expiration. Note the stock has to move past the strike by at least the premium just to break even — simply being right about direction isn't enough.
- For a bought (long) call or put, the maximum loss is the premium you paid — nothing more. The maximum profit is theoretically unlimited for a call and (strike − premium) × 100 per contract for a put. That defined, limited risk is a key reason traders buy options rather than short stock — but the whole premium can still be lost.
- Because an option is a wasting asset: it has a deadline, and it only pays off if the stock moves enough in the right direction in time. Part of the premium is "time value" that decays to zero by expiration. So a buyer can be roughly right about direction and still lose if the move is too small or too slow — which is why timing and the price paid matter as much as the call.
- No — it shows profit and loss at expiration only. Before expiry an option also carries time value; use the Black-Scholes and implied-volatility calculators for the value of an open position.
- No. The calculation runs entirely in your browser. Nothing is uploaded or stored.