Options Profit Calculator United States
This options profit calculator estimates the profit, loss, breakeven and maximum gain or loss of a call or put option at expiration.
What it does
The Options Profit Calculator estimates the profit or loss of a single-leg options position at expiration, along with its breakeven price and maximum profit and loss.
Data sources & parameters
This calculator uses standard financial formulas and runs entirely in your browser. It needs no external rate data — your result is computed only from the values you enter above.
We always strive to use the latest data for every variable so our results and reports are as accurate as possible. Even so, errors are possible — you should not rely on this tool or its report alone, and we accept no liability for any decision made based on it.
The formula
P&L per share = (intrinsic value − premium) for a long, or (premium − intrinsic value) for a short; total = per-share × contracts × 100
How it works
It compares the option's intrinsic value at your chosen expiration price against the premium, multiplied by 100 shares per contract, for long or short calls and puts.
Where it is used
- Estimating profit or loss at expiration
- Finding the breakeven price
- Comparing long and short call and put positions
Worked example
A long call struck at $100.00 bought for $5.00 per share, with the underlying at $120.00 at expiration, shows a profit of … and a breakeven of ….
What the options profit calculator does
The calculator estimates what a single-leg option position is worth at expiration. Choose whether you are buying or selling a call or a put, then enter the strike price, the premium per share, the number of contracts and the underlying price to test. It returns the profit or loss, the breakeven price, the maximum profit, the maximum loss and the return on the premium at risk.
Seeing the payoff in dollars makes a trade's mechanics clear before you commit money. It is a planning aid, not a recommendation to trade.
Long and short, calls and puts
- A long call profits when the underlying rises well above the strike. The most you can lose is the premium, and the upside is open-ended.
- A long put profits when the underlying falls well below the strike. The loss is capped at the premium, and the gain is largest if the underlying goes to zero.
- A short call collects a premium and profits if the underlying stays at or below the strike. The gain is capped at the premium, but the risk is open-ended if the underlying climbs.
- A short put collects a premium and profits if the underlying stays at or above the strike. The gain is capped at the premium, and the largest loss comes if the underlying falls to zero.
Buying and selling reverse both the direction of the premium and the shape of the risk, so know which of the four positions you hold.
How the calculation works
- It finds the option's intrinsic value at expiration: for a call, the underlying price minus the strike; for a put, the strike minus the underlying price; never below zero.
- It applies the premium: subtracted for a bought option, added for a sold one.
- It multiplies the per-share result by 100 shares per contract.
The payoff at expiration is plain arithmetic. The 100-share multiplier is a fixed feature of standard listed equity options.
Reading breakeven
Breakeven is the underlying price at which the position exactly recovers its premium. For a call it is the strike plus the premium; for a put, the strike minus the premium. For a buyer, it is the level the underlying must pass by expiration just to avoid a loss. Comparing it with the current price shows how far the underlying has to move.
Maximum profit and maximum loss
For a long call the maximum loss is the premium paid and the profit is open-ended; a long put reaches its maximum profit if the underlying falls to zero. For a short call the maximum profit is the premium received and the risk is open-ended; a short put's maximum loss comes if the underlying falls to zero.
A capped gain against an open-ended loss, as with a naked short call, is a very different bet from a capped loss against an open-ended gain, as with a long call. Seeing both limits helps you judge whether the reward justifies the risk.
What you need to enter
- The position: long or short, call or put.
- The strike price.
- The premium per share, as quoted in the option chain.
- The number of contracts, each controlling 100 shares.
- The underlying price to test at expiration.
The premium and strike set both the breakeven and the profit, so enter them accurately. Try several underlying prices to see how the position behaves across a range of outcomes.
When to use this tool
- Estimate the profit or loss of an option at a given expiration price.
- Find the breakeven the underlying must reach.
- See the maximum profit and loss before opening a position.
- Compare a call with a put, or a long position with a short one.
Options carry substantial risk and can expire worthless. The result assumes the position is held to expiration and ignores commissions, early assignment and tax, all of which can change the outcome.
This is general information only and not financial advice.
About This Options Profit Calculator
Use this options profit calculator to get an instant estimate based on the figures you enter. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.
Frequently asked questions
What does this options profit calculator do?
How is profit at expiration calculated?
How many shares does one contract control?
What does breakeven mean here?
Why is maximum profit or loss sometimes unlimited?
Does this include commissions or taxes?
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