Max Profit, Max Loss, Breakevens & Payoff Chart at Expiration
Pick a strategy or build your own legs, type in your strikes, premiums, and number of contracts, and see profit and loss at expiration, your maximum profit and loss, every breakeven, and the payoff chart. It works for single calls and puts, vertical spreads, straddles, iron condors, covered calls, and protective puts. Everything is calculated from the numbers you enter, so nothing depends on live quotes.
Enter your own strikes and premiums. Results are profit and loss at expiration, not market quotes.
Picking a strategy fills in example strikes and premiums around the underlying price. Replace them with your own.
| Price at expiration | Profit / loss |
|---|---|
| $70.00 | -$400.00 |
| $85.00 | -$400.00 |
| $100.00 | $100.00 |
| $115.00 | $100.00 |
| $130.00 | $100.00 |
Options are 100 shares per contract. Profit and loss are for the whole position at expiration and exclude commissions, taxes, and early assignment.
The 100-share multiplier and your contract count change every dollar figure
Multi-leg trades have more than one breakeven, and short calls have no cap on losses
Single legs, spreads, straddles, strangles, iron condors, covered calls, and protective puts
Calculated from your strikes and premiums, including strategies with two breakevens
Profit and loss across a price range around the underlying
Long calls and short calls report open-ended profit or loss instead of a made-up number
Pick a preset such as a bull put spread or iron condor, or edit the legs yourself
Type the strike, the premium per share, and the number of contracts for each leg
Max profit, max loss, breakevens, and profit and loss at five prices
See where the position makes or loses money at expiration
This is hypothetical math from typed-in numbers, not a live quote. The calculator opens on this trade so you can change one number and watch the result move.
Example: Max profit
$130
Example: Max loss
$370
Example: Breakeven
$93.70
Credit and debit put spread payoff analysis
Max profit, max loss, and break-evens for iron condors
Estimate premium income, ROI, and downside cushion
Scan live option chains for trades worth modeling
Theoretical delta, gamma, theta, and vega
Everything you need to know about getting started
