Options Profit Calculator
See the profit or loss at expiration on a call or put you buy or sell, with the break-even stock price and the most you can make or lose.
At expiration a call is worth the stock price minus the strike, and a put the strike minus the stock price, or nothing if that is negative. The buyer's profit is that value minus the premium, times 100 shares per contract. One call with a $50 strike bought for $2.50 makes $250.00 if the stock ends at $55, and breaks even at $52.50.
This calculator shows the arithmetic of an option's payoff at expiration for general education; it is not investment, trading or tax advice, and it is not a recommendation to buy or sell any option. Options involve risk and are not suitable for all investors; selling options can lose more than the premium received, and a short call's loss is unlimited. Results leave out time value before expiration, commissions, fees, taxes, dividends, margin requirements and early assignment, and assume 100 shares per contract. Read the options disclosure document your broker provides, and consult a qualified financial professional before trading.
Profit at expiration, bought call
+$250.00
+$2.50 a share, 100% of the premium paid
- Break-even stock price
- $52.50
- Premium paid
- $250.00
- Option value at expiration
- $5.00 a share (in the money)
- Maximum gain
- Unlimited
- Maximum loss
- $250.00
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About the Options Profit Calculator
An option's payoff at expiration depends on four numbers: the strike, the premium, the stock price on the last day and the number of contracts. A standard equity option covers 100 shares, so a $2.50 premium costs $250.00 a contract. A call pays the amount by which the stock finishes above the strike. Suppose you bought the $50 call for $2.50; at $55 it is worth $5.00 a share: $500.00 back on $250.00 paid, a $250.00 profit. If the stock ends at $48 the call expires worthless and the $250.00 is lost. A call buyer breaks even at the strike plus the premium; a put buyer at the strike minus it. Two $40 puts bought at $1.75 break even at $38.25 and make $650.00 with the stock at $35. Selling flips every sign. Ten $30 puts sold for $1.10 bring in $1,100.00, lose $1,500.00 if the stock ends at $27.40, and can lose up to $28,900.00 if it falls to zero, while a call writer's loss has no ceiling. These are expiration figures only: before then an option also carries time value, which this calculator does not estimate.
Frequently asked questions
How is profit on a call option calculated?+
At expiration, take the stock price minus the strike (zero if the stock is at or below the strike), subtract the premium, and multiply by 100 shares per contract. A $50 call bought for $2.50 with the stock at $55 gives ($5.00 - $2.50) x 100 = $250.00.
What is the break-even price for an option?+
For a call, the strike plus the premium; for a put, the strike minus the premium. The same price applies to the buyer and the seller, since one side's gain is the other's loss. A $50 call bought for $2.50 breaks even with the stock at $52.50.
What is the most I can lose buying an option?+
The premium you paid. If the option expires out of the money it is worth nothing and the loss is the whole premium, $250.00 on one contract bought at $2.50. Sellers face larger risk: a short put can lose the strike minus the premium per share, times 100 shares a contract, and a short call has no limit.
Does this show what my option is worth before expiration?+
No. Before expiration an option's price also includes time value, which depends on volatility, interest rates and days left, and needs a pricing model this calculator does not use. It also leaves out commissions, fees, taxes, dividends and early assignment.
Break-even, maximum gain and maximum loss: The Options Industry Council, strategy pages Long Call, Long Put, Naked Call and Naked Put. Contract size: The Options Industry Council, Options Basics.
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