Options Profit Calculator

Start by selecting one of the four options strategies at the top of the page: Long Call, Long Put, Covered Call, or Cash Secured Put. Each represents a different market outlook, from bullish to bearish to income-generating.

Next, enter a stock ticker and click "Load Chain" to pull real market data. The calculator will fetch available expiration dates and strike prices directly from the options market. Select your desired expiration and strike, and the premium will auto-fill based on the most recent closing price.

You can manually adjust any field to run hypothetical scenarios — for example, testing how the trade would look if you paid a different premium or if the stock were at a different price. The P/L chart updates instantly to show your profit and loss across a range of stock prices.

The chart displays three lines: the "At Expiration" line shows your profit or loss if you hold the option to expiry, the "Today" line shows the theoretical current value using Black-Scholes pricing, and the "Midpoint" line shows the estimated value halfway to expiration. The table below the chart provides exact dollar amounts and percentage returns at key price points.

An option's value is made up of two components: intrinsic value and time value. Intrinsic value is the amount the option is "in the money" — for a call, that's the stock price minus the strike price (if positive). Time value represents the remaining potential for the option to become more valuable before it expires.

This is why the "Today" line on the chart differs from the "At Expiration" line. Before expiration, even an out-of-the-money option has some value because the stock could still move favorably. As expiration approaches, time value decays (known as theta decay), and the "Today" line converges toward the sharp hockey-stick shape of the expiration line.

The break-even point is the stock price at which your trade neither makes nor loses money at expiration. For a long call, it's the strike price plus the premium paid. Understanding where your break-even falls relative to the current stock price helps you assess the probability and magnitude of potential outcomes.

Long Call — A bullish bet where you buy a call option, giving you the right to purchase shares at the strike price. Your maximum loss is limited to the premium paid, while profit potential is theoretically unlimited as the stock rises. Best used when you expect a significant upward move.

Long Put — A bearish position where you buy a put option, giving you the right to sell shares at the strike price. Maximum loss is the premium paid, and maximum profit occurs if the stock drops to zero. Useful for hedging a long stock position or speculating on a downturn.

Covered Call — An income strategy where you own 100 shares and sell a call option against them. You collect the premium as income, but cap your upside if the stock rises above the strike. Ideal for neutral-to-slightly-bullish outlooks when you're willing to sell at a target price.

Cash Secured Put — You sell a put option while holding enough cash to buy the shares if assigned. You collect premium income upfront and may end up buying the stock at a discount. Works well when you want to own a stock at a lower price while getting paid to wait.