Options Profit Calculator

Visualize P&L, Greeks, and break-even points for any options strategy. Free and open source.

Long Call

basic

Buy a call option to profit from upward price movement with limited downside risk.

1 leg

Long Put

basic

Buy a put option to profit from downward price movement with limited upside risk.

1 leg

Covered Call

basic

Own stock and sell a call to generate income, capping upside potential.

1 leg + stock

Cash Secured Put

basic

Sell a put backed by cash, collecting premium while willing to buy stock at the strike.

1 leg

Naked Call

basic

Sell a call without owning the underlying stock. Unlimited risk.

1 leg

Naked Put

basic

Sell a put without holding cash to buy. Risk to zero.

1 leg

Call Spread (Bull)

spreads

Buy a lower strike call and sell a higher strike call for a net debit bullish play.

2 legs

Put Spread (Bear)

spreads

Buy a higher strike put and sell a lower strike put for a net debit bearish play.

2 legs

Credit Spread

spreads

Sell an option closer to the money and buy one further out for a net credit.

2 legs

Poor Man's Covered Call

spreads

Buy a deep ITM LEAPS call and sell a short-term OTM call against it.

2 legs

Calendar Spread

spreads

Sell a near-term option and buy a longer-term option at the same strike.

2 legs

Ratio Back Spread

spreads

Sell one option and buy two further OTM options for unlimited profit potential.

2 legs

Iron Condor

advanced

Sell an OTM call spread and OTM put spread to profit from low volatility.

4 legs

Butterfly

advanced

Buy one lower, sell two middle, buy one upper call for a low-cost bet on a price target.

3 legs

Collar

advanced

Own stock, buy a protective put, and sell a covered call to limit both gains and losses.

2 legs + stock

Diagonal Spread

advanced

Buy a longer-term option and sell a shorter-term option at a different strike.

2 legs

Double Diagonal

advanced

Combine a put diagonal and call diagonal spread for a volatility play.

4 legs

Straddle

advanced

Buy a call and put at the same strike to profit from large moves in either direction.

2 legs

Strangle

advanced

Buy an OTM call and OTM put to profit from large moves at lower cost than a straddle.

2 legs

Covered Strangle

advanced

Own stock, sell an OTM call and OTM put to collect double premium.

2 legs + stock

Synthetic Put

advanced

Short stock and buy a call to create a position equivalent to a long put.

1 leg + stock

Reverse Conversion

advanced

Short stock, buy a call, sell a put at the same strike for an arbitrage play.

2 legs
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Custom Strategy

Build your own 2-8 leg strategy

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