Options Profit and Loss Calculator: Break-Even and Payoff at Expiration
· 2 min read
This calculator shows the profit or loss, the break-even price and the maximum gain and loss of a single option position if it is held to expiration. Pick a call or a put, choose buy or sell, enter the strike and the premium per share, and set the price of the stock at expiration.
Profit and loss at different expiration prices
| Move vs strike | Stock price | Profit or loss |
|---|
How the numbers are calculated
One contract controls 100 shares, so the premium per share is multiplied by 100. For a long call, the value at expiration is the stock price minus the strike (never below zero), and the profit is that value minus the premium paid. A long put uses the strike minus the stock price. A short position is the mirror image: you keep the premium and give back whatever the option is worth at expiration.
The break-even price for a call is the strike plus the premium, and for a put it is the strike minus the premium. A buyer’s maximum loss is the premium paid. A seller of an uncovered call faces a loss that has no upper limit, and a seller of an uncovered put can lose up to the strike price times 100 minus the premium received.
What the calculator leaves out
The result is the payoff at expiration only. It does not include commissions, fees, taxes, early exercise or assignment, dividends, or what the option is worth before expiration, which depends on time value and implied volatility. Use it to understand the shape of a trade, then confirm the real numbers on your broker’s platform.
The default values are an illustration, not a real trade or a recommendation. Trading involves risk of loss.
Curious how mirroring works on a real account? The 7-day free trial connects your account so you can check the fills yourself.
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