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Options Profit Calculator
See what an option trade is worth at expiration. Choose a call or put, set the strike, premium and contracts, then press Calculate to get the profit, breakeven and payoff curve.
Written by TopicDrill Editorial Team·Updated June 2026
Profit at each underlying price
P/L Strike
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How the options profit calculator works
The tool evaluates a single-leg position at expiration, the moment when an option is worth nothing but its intrinsic value. It works out that intrinsic value at every possible underlying price, subtracts or adds the premium depending on whether you bought or sold, and multiplies by the number of shares your contracts control.
The payoff diagram makes the shape of the trade obvious. The dashed line is the breakeven level where profit is zero, the kink sits at the strike, and the dot marks your result at the underlying price you entered. A long call slopes up without limit, while a short put flattens into a fixed gain.
A quick example
Buy one call with a 100 dollar strike for a premium of 3.50 dollars. One contract controls 100 shares, so you pay 350 dollars up front. Your breakeven is 103.50 dollars. If the stock finishes at 115 dollars, the call is worth 15 dollars of intrinsic value per share, or 1,500 dollars, leaving a profit of 1,150 dollars after the premium.
Things to keep in mind
This is an expiration snapshot, so it ignores time value, commissions, dividends and early assignment. For the official mechanics of listed options, the Options Industry Council is a neutral reference. To size how much capital a trade ties up against your overall picture, our net worth calculator can help.
Frequently asked questions
How is profit on an option calculated at expiration?
At expiration an option is worth only its intrinsic value. For a call that is the underlying price minus the strike, and for a put it is the strike minus the underlying price, with a floor of zero. The profit for a buyer is that intrinsic value minus the premium paid, multiplied by the number of shares the contracts control.
What is the breakeven price?
Breakeven is the underlying price where your profit is exactly zero. For a call it is the strike plus the premium, because the option has to rise enough to earn back what you paid. For a put it is the strike minus the premium. Above or below those points the position starts to make money.
Why can a short call show unlimited loss?
When you sell a call you collect the premium but take on the obligation to deliver shares at the strike. There is no ceiling on how high the underlying can climb, so the potential loss has no fixed limit. A short put, by contrast, caps its loss when the underlying falls all the way to zero.
Does this calculator account for time value or volatility?
No. This tool shows profit and loss at expiration only, when time value has decayed to nothing and just intrinsic value remains. Before expiration an option also carries time value driven by volatility and the time left, which a pricing model such as Black-Scholes would estimate.
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