Options Profit Calculator

Every standard US equity option contract controls 100 shares. This calculator takes your strategy, contracts, premium, strike, and a hypothetical stock price at expiry, and shows the payoff in plain dollars: what you would make or lose if the option expired at that price, plus your breakeven, maximum profit, and maximum loss.

Long call — you pay a premium for the right to buy shares at the strike. It has value at expiry only when the stock finishes above the strike, and you profit once it clears the strike plus what you paid per share.

Long put — you pay a premium for the right to sell shares at the strike. It has value at expiry only when the stock finishes below the strike, and you profit once it falls below the strike minus what you paid per share.

Covered call — you own 100 shares per contract and sell a call against them, collecting the premium. The premium lowers your effective cost basis, but if the stock finishes above the strike your shares are assumed called away, so the upside is capped at the strike.

This is an expiry payoff model, not a live mark-to-market model: time value, implied volatility, dividends, and early assignment are excluded from the math.

Shared pieces: multiplier = 100; option notional = contracts × 100 shares controlled; premium total = premium × contracts × 100 (paid for long options, received for a covered call); per-share fees = fees ÷ contracts ÷ 100.

Long call: intrinsic value = max(price at expiry − strike, 0) × contracts × 100. Net profit = intrinsic value − premium total − fees. Breakeven = strike + premium + per-share fees. Max loss = premium total + fees. Max profit = unlimited — upside keeps rising with the stock price.

Long put: intrinsic value = max(strike − price at expiry, 0) × contracts × 100. Net profit = intrinsic value − premium total − fees. Breakeven = strike − premium − per-share fees; if that value is $0 or below, no profitable breakeven exists because the put cannot profit even if the stock falls to $0. Max loss = premium total + fees. Max profit = (strike × contracts × 100) − premium total − fees, reached if the stock goes to $0.

Covered call: stock profit = (min(price at expiry, strike) − cost basis) × contracts × 100 — above the strike, upside is capped because shares are assumed called away. Net profit = stock profit + premium total − fees. Breakeven candidate = cost basis − premium + per-share fees; it is a real breakeven only when it is at or below the strike — otherwise assignment caps recovery below your adjusted cost basis and no breakeven exists. Max profit = ((strike − cost basis) + premium) × contracts × 100 − fees; if negative, it is shown as the guaranteed maximum loss, not as profit. Max loss = (cost basis × contracts × 100) − premium total + fees, the worst case if the stock goes to $0, partly offset by premium.

Return on premium = net profit ÷ premium total × 100 — only meaningful for long calls and long puts.

Inputs: strategy = long call, contracts = 2, premium = $3.20, strike = $100, price at expiry = $112, fees = $1.30.

• Option notional = 2 × 100 = 200 shares controlled.
• Premium total = $3.20 × 2 × 100 = $640.00.
• Intrinsic value at expiry = max($112 − $100, 0) × 2 × 100 = $12 × 200 = $2,400.00.
• Net profit = $2,400.00 − $640.00 − $1.30 = $1,758.70.
• Return on premium = $1,758.70 ÷ $640.00 × 100 = 274.80%.
• Breakeven price = $100 + $3.20 + ($1.30 ÷ 2 ÷ 100) = $103.2065, displayed as $103.21.
• Max loss = $640.00 + $1.30 = $641.30.
• Max profit = unlimited.