Skip to main content

DigitalCalculators.net

Menu

Options Profit Calculator

Work out the profit or loss on a call or put option at expiration, whether you buy or sell it, with the break-even price, maximum gain and loss, and a payoff table.

Results

ItemValue

Profit or loss at expiration

Stock priceProfit or loss
Shows value at expiration only. Before expiration, option prices also depend on time left and volatility. Each standard US stock option contract covers 100 shares. Selling options can lead to large losses, especially uncovered calls. This is not investment advice.

Quick Answer

At expiration, a call is worth the stock price minus the strike, and a put is worth the strike minus the stock price, never less than zero. Subtract the premium and multiply by 100 shares per contract. Buying one $50 call for $2.20 and seeing the stock at $56 gives a profit of $380.00. The break-even is $52.20.

Last updated: 2 November 2026 ·How we calculate this: the option payoff at expiration

Table of Contents

How This Options Profit Calculator Works

Choose a call or put, and whether you are buying or selling. Enter the strike price, the premium per share, the number of contracts and the stock price at expiration. The calculator finds the option's value at expiration, subtracts the premium and fees, and shows your profit or loss, the break-even price and the most you could gain or lose. A table shows results across a range of stock prices.

Quick explanation: buyers pay a premium for a right. Sellers collect the premium and take on an obligation.

  • Call: the right to buy shares at the strike price.
  • Put: the right to sell shares at the strike price.
  • Contract: usually 100 shares.

How to Use the Options Profit Calculator

  1. Choose call or put, and buy or sell.
  2. Enter the strike price and the premium per share.
  3. Enter the number of contracts.
  4. Enter the stock price you expect at expiration, and any fees.
  5. Press Calculate and check the payoff table.

Core Formulas

  • Call value at expiration: max(0, stock price − strike)
  • Put value at expiration: max(0, strike − stock price)
  • Buyer's profit: (value − premium) × 100 × contracts − fees
  • Seller's profit: (premium − value) × 100 × contracts − fees
  • Break-even: strike + premium for calls, strike − premium for puts

Key Terms

  • Strike price: the price at which the option lets you buy or sell the stock.
  • Premium: the price of the option, quoted per share.
  • Expiration: the last day the option can be exercised.
  • In the money: a call with stock above the strike, or a put with stock below it.
  • Break-even: the stock price where profit is zero at expiration.

Worked Example

You buy 2 put contracts with a $100 strike for $3.50 each. The stock ends at $92.

  • Put value = $100 − $92 = $8 per share
  • Profit = ($8 − $3.50) × 100 × 2 = $900.00
  • Break-even = $100 − $3.50 = $96.50

Real-Life Examples

  • Bullish bet: one $50 call bought for $2.20 makes $380.00 if the stock reaches $56, but loses the full $220 if it stays below $50.
  • Protective put: a $100 put bought for $3.50 limits losses on shares if the price falls.
  • Covered call income: selling a $55 call for $1.50 collects $150 per contract, kept in full if the stock stays at or below $55.
  • Planning exits: use the payoff table to see results at several prices.

Calls vs Puts

  • Buying calls: profit if the stock rises above strike + premium. Loss is limited to the premium.
  • Buying puts: profit if the stock falls below strike − premium.
  • Selling options: collects premium, but losses can be large. FINRA warns that options carry significant risk.

What Moves Option Prices Before Expiration

  • Stock price: calls gain as it rises, and puts gain as it falls.
  • Time left: options usually lose value as expiration nears.
  • Volatility: bigger expected price swings raise option premiums.
  • Interest rates and dividends: have smaller effects on premiums.

Common Mistakes to Avoid

  • Forgetting the 100-share multiplier. A $2 premium costs $200 per contract.
  • Ignoring the premium. A call can be in the money and still lose money.
  • Selling uncovered calls. Losses have no upper limit.
  • Holding to expiration by habit. Time value fades fastest near the end.
  • Ignoring fees. Small trades can lose much to fees.

Frequently Asked Questions

At expiration, find the option's value, subtract the premium, and multiply by 100 shares per contract and the number of contracts. Subtract fees.

The strike price plus the premium.

The strike price minus the premium.

The premium you paid, plus fees.

If you do not own the shares, the possible loss is unlimited, because the stock can keep rising.

Standard US stock options cover 100 shares, so premiums are multiplied by 100.

No. It shows results at expiration.

Only as a rough guide. Real option prices before expiration include time value.

A call with the stock below the strike, or a put with the stock above it. It has no intrinsic value.

Generally yes, as capital gains. Holding periods and special rules apply, so check with a tax professional.

Selling a call on shares you already own, to earn premium. If the stock rises above the strike, your shares may be sold at the strike price.

A bought option that expires out of the money is worth nothing, and you lose the premium paid. A sold option that expires worthless lets you keep the whole premium.

Yes. FINRA notes options can involve significant risk. Learn the rules and only risk what you can afford to lose.

References & Sources

SourceUsed ForLink
Investor.gov (SEC), An Introduction to Options Calls, puts, premiums and the 100-share contract. https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-63
FINRA, Options How options work and their risks. https://www.finra.org/investors/investing/investment-products/options