Calculate Max Profit, Max Loss & Probability of Success
Confused by put spread math? Can't figure out your max profit and breakeven? Our calculator shows your complete risk/reward picture—max profit, max loss, breakeven, probability of profit, and short-leg assignment risk—instantly.
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Two Different Strikes, Two Different Outcomes — Impossible to track mentally
Max Profit is Hidden in the Spread Width — You don't know if it's worth your time
Breakeven is Counterintuitive — Not the same as your short strike
Assignment is Confusing — You don't know what happens if stock crashes
Estimated from the short put's delta
Estimated from distance to breakeven vs. implied volatility
Is this trade worth it?
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Master credit spreads with our comprehensive guides. Learn optimal DTE selection, risk management, and how to choose between call and put spreads.
Bullish strategy using put credit spreads
Bearish strategy using call credit spreads
Compare credit spread strategies side by side
Data analysis: 30, 45, and 60-day credit spread performance
Strike selection, DTE, and adjustment rules for bearish spreads
Enter tickers and a days-to-expiration range to scan
Each short put (what you're selling) is paired with a long put (your protection floor) and priced from the live option chain
See max profit, max loss, breakeven, and whether the risk/reward ratio is worth it
Example: Max Profit ($1.00 credit)
$100
Example: Max Loss ($5-wide spread)
$400
Example: Breakeven ($575 short put)
$574
Example: Return on Risk
25%
Bullish strategy using put credit spreads
Bearish strategy using call credit spreads
Compare credit spread strategies side by side
Data analysis: 30, 45, and 60-day credit spread performance
Everything you need to know about getting started
