Calculate profit, loss and break-even price for call and put options. Works for both buying and selling options.
Long Call: Profit when stock rises above strike + premium. Max loss = premium paid.
Long Put: Profit when stock falls below strike − premium. Max loss = premium paid.
Short Call: Profit when stock stays below strike. Max profit = premium received. Unlimited risk above breakeven.
Short Put: Profit when stock stays above strike. Max profit = premium received. Risk = strike − premium.
Note: This calculator shows intrinsic value (expiry P&L). Actual mid-trade value also includes time value (theta).
Each standard US options contract controls 100 shares of the underlying stock. So a $5.50 premium actually costs $550 per contract ($5.50 × 100).
The stock price at expiration where your trade neither gains nor loses money. For a long call: Break-even = Strike + Premium. For a long put: Break-even = Strike − Premium.
No — this shows the intrinsic value P&L at expiration. Before expiry, your actual P&L will differ due to theta (time decay), vega (implied volatility), and delta (directional) effects.