Options Payoff Calculator
Profit and loss at expiry for options and strategies, with breakevens and a chart.
General information only, not financial advice. Results are estimates based on simplified formulas, so check them before you rely on them.
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History
Your results appear here. They are saved on this device only.
An options payoff diagram shows your profit or loss at expiry for every possible price of the underlying. Build a single option or a multi-leg strategy and see the maximum profit, maximum loss and breakeven prices, plus a chart and a table of results.
How it is calculated
At expiry a call is worth the amount the price is above its strike (or zero), and a put the amount it is below its strike. Each option leg pays quantity × multiplier × (value at expiry − premium); buyers gain that and sellers lose it. Shares legs pay quantity × (price − entry). The strategy result is the sum of its legs.
Worked example
A bull call spread buys a 100 call for 6 and sells a 110 call for 2. The net cost is 4 per share (400 per contract). The maximum profit is 600, reached at 110 or above, the maximum loss is 400, reached at 100 or below, and the breakeven is 104.
Things to know
- This shows the result at expiry only. Before expiry, option values also depend on time left and volatility; the Black–Scholes calculator estimates that.
- Early exercise, assignment, dividends and fees are not included.
- Selling options can mean large or unlimited losses. Make sure you understand the risk before trading them.