Options Profit Calculator
Free option profit calculator and option strategy calculator. Visualize P&L, Greeks, and breakevens for 22+ strategies. No signup required.
50,000+ calculations run · no signup required
Bullish
— Expecting price to riseThe simplest bullish options trade.
Buy a call, sell a higher-strike call.
Own 100 shares and sell a call against them to collect premium income — capping your upside.
Sell a put backed by cash and get paid to wait to buy a stock at a lower price.
Use a LEAPS call as a stock substitute and sell short-term calls against it for income.
Bearish
— Expecting price to fallNeutral / Income
— Range-bound or premium sellingSell an OTM call spread and OTM put spread simultaneously.
A low-cost, high-reward bet that the stock pins to a specific price at expiration.
Sell a closer option and buy a further OTM option.
Sell a near-term option and buy a longer-term option at the same strike.
Sell a put without holding cash to buy the shares.
Own shares, buy a protective put, sell a covered call.
Combines different strikes AND different expirations — a flexible blend of calendar and vertical spreads.
A put diagonal and call diagonal combined to profit from time decay and range-bound price action.
Own shares, sell an OTM call AND an OTM put to collect double premium.
Short stock + long call + short put — an arbitrage play exploiting put-call parity.
Volatile / Events
— Expecting a big move — earnings, newsHow It Works
Choose from 22+ strategies or build a custom multi-leg position.
Get real-time price and options chain data automatically.
Select strikes from the chain and set your expiration dates.
View P&L heatmap, chart, Greeks, breakevens, and probability of profit.
About This Options Profit Calculator
This free option profit calculator lets you model any options trade before you place it. Enter your stock price, strikes, expiration, and implied volatility — and instantly see the full P&L curve, max profit, max loss, breakevens, and Greeks. Use it as an option strategy calculator to compare approaches side-by-side: covered calls vs. cash-secured puts, iron condors vs. butterflies, or vertical spreads vs. diagonal spreads.
Whether you want to calculate options profit on a simple long call or model a complex multi-leg spread, the tool handles it all. The options spread calculator covers bull call spreads, bear put spreads, credit spreads, calendar spreads, and diagonal spreads. No account needed — just open the tool and start modeling.
Frequently Asked Questions
What is an options profit calculator?+
An options profit calculator helps traders visualize the potential profit and loss (P&L) of an options strategy across a range of stock prices and dates. It uses the Black-Scholes model to price options and shows Greeks like delta, gamma, theta, and vega.
How do I calculate options profit and loss?+
Options P&L is calculated by taking the current option value minus the premium paid (for long positions) or premium received minus current value (for short positions). Our calculator does this automatically for all expiration dates and stock prices.
What options strategies can I calculate?+
We support 22+ strategies including covered calls, cash-secured puts, iron condors, butterflies, straddles, strangles, vertical spreads, calendar spreads, diagonal spreads, and custom multi-leg strategies.
Is the options profit calculator free?+
Yes. The calculator is 100% free with no signup required. You can model unlimited strategies, view Greeks, heatmaps, and P&L charts at no cost.
What are the Greeks in options trading?+
The Greeks measure an option's sensitivity to various factors. Delta measures price sensitivity, Gamma measures delta's rate of change, Theta measures time decay, and Vega measures sensitivity to implied volatility.
How do I use an iron condor calculator?+
Select the Iron Condor strategy, enter your stock price, strike prices for both the call spread and put spread, days to expiration, and implied volatility. The calculator instantly shows your max profit, max loss, breakeven points, and P&L chart.
Can I use this as an option strategy calculator?+
Yes. This is a full option strategy calculator supporting 22+ strategies. Pick any strategy from the list — covered calls, spreads, straddles, iron condors, diagonal spreads — enter your parameters, and instantly see the full P&L profile, breakevens, and Greeks.
How accurate is the option profit calculator?+
The calculator uses the Black-Scholes model for option pricing, the industry standard for European-style options. Results are theoretical — actual profits depend on bid/ask spreads, early assignment risk (for American options), and changes in implied volatility.
How do I calculate profit on a covered call?+
Covered call profit equals the premium received plus any stock appreciation up to the strike price. Max profit = (strike price − stock purchase price) + premium received. If the stock stays below the strike at expiration you keep both the shares and the full premium.
What is the breakeven price for a long call option?+
The breakeven for a long call is the strike price plus the premium paid. The stock must rise above this level by expiration for the trade to be profitable. For example, a $100-strike call purchased for $3 breaks even at $103.
What is theta decay in options?+
Theta measures how much an option's value decreases each day due to the passage of time, all else being equal. Theta decay accelerates as expiration approaches and is highest for at-the-money options. Option sellers benefit from theta decay while buyers are hurt by it.
Free options profit calculator for retail traders — calculate P&L, breakeven, and Greeks for any options strategy. Model covered calls, iron condors, vertical spreads, butterflies, straddles, diagonal spreads, and more before you place a trade. Enter your stock ticker to pull real-time prices and option chains, set your strikes and expiration, then instantly see a full P&L chart, price heatmap, and Greeks (delta, gamma, theta, vega). Whether you're selling premium with credit spreads, buying long calls for earnings plays, or hedging with collars and protective puts, this calculator shows you max profit, max loss, probability of profit, and expected move — all powered by Black-Scholes pricing. No account needed. No ads. Just fast, accurate options analysis.
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