Options Profit Calculator
Calculate your options P&L at expiration for calls and puts. See breakeven price, max profit, max loss, and P&L at every price level.
Free — no signup, no ads, instant results
Inputs
Results
Total P&L at Current Price
+$150.00
Return on Investment
+42.9%
Breakeven Price
$103.50
Total Cost (Max Loss)
$350.00
Max Profit
Unlimited
Intrinsic Value
$5.00
P&L at Expiration
| Underlying Price | P&L |
|---|---|
| $80.00 | $-350.00 |
| $82.00 | $-350.00 |
| $84.00 | $-350.00 |
| $86.00 | $-350.00 |
| $88.00 | $-350.00 |
| $90.00 | $-350.00 |
| $92.00 | $-350.00 |
| $94.00 | $-350.00 |
| $96.00 | $-350.00 |
| $98.00 | $-350.00 |
| $100.00 | $-350.00 |
| $102.00 | $-150.00 |
| $104.00 | +$50.00 |
| $106.00 | +$250.00 |
| $108.00 | +$450.00 |
| $110.00 | +$650.00 |
| $112.00 | +$850.00 |
| $114.00 | +$1050.00 |
| $116.00 | +$1250.00 |
| $118.00 | +$1450.00 |
| $120.00 | +$1650.00 |
Who Is This For?
This calculator is for options traders who want to calculate profit and loss at expiration before entering a trade. It works for stock options (calls and puts) and is useful for both beginners learning options and experienced traders evaluating setups with different strike prices and premiums.
When to Use This Calculator
- Before buying calls or puts to see max profit, max loss, and breakeven
- When comparing different strike prices to find the best risk/reward
- When calculating how far the stock needs to move to be profitable
- When evaluating whether the premium is worth paying for a given setup
Formula
At expiration, an option's value is purely intrinsic:
Call P&L = (Price - Strike - Premium) x 100 x Contracts
Put P&L = (Strike - Price - Premium) x 100 x Contracts
Each standard options contract represents 100 shares. Your maximum loss when buying options is always limited to the premium paid.
Worked Example
Scenario: Buy 2 call contracts at $100 strike, $3.50 premium per share.
Step 1: Total cost = $3.50 x 2 x 100 = $700 (this is your max loss).
Step 2: Breakeven = $100 + $3.50 = $103.50.
Step 3: If the stock goes to $110: profit = ($110 - $100 - $3.50) x 200 = $1,300.
Result: ROI = $1,300 / $700 = 185.7%. The stock only needed to move 10% for a 185.7% return on your options investment.
Assumptions & Edge Cases
- Calculates P&L at expiration only — not before expiration when time value still exists
- Does not include Greeks (delta, gamma, theta, vega) which affect pre-expiration pricing
- Assumes standard 100-share contracts
- Does not account for early exercise or dividends
Frequently Asked Questions
For a call option: profit = (current price - strike price - premium paid) x 100 x contracts. For a put option: profit = (strike price - current price - premium paid) x 100 x contracts. If the result is negative, the option is unprofitable at that price.
For calls: breakeven = strike price + premium paid. For puts: breakeven = strike price - premium paid. The underlying must move beyond the breakeven price for the option to be profitable at expiration.
The maximum loss when buying options (calls or puts) is the total premium paid. This is one of the advantages of buying options — your risk is capped at the premium regardless of how far the underlying moves against you.
Intrinsic value is the amount an option is in-the-money (ITM). For a call, it's the current price minus the strike price (if positive). Time value is the premium minus intrinsic value — it represents the probability of further movement before expiration and decays over time (theta).