Options Profit Calculator

This calculator models any options position — single-leg or multi-leg — using real-time market data. You get P&L at expiration and at any date before using Black-Scholes pricing. Here's how it works:

Step 1: Type in a ticker. The live quote loads with current price, daily change, and 52-week range.

Step 2: Pick your strategy from the dropdown. Buying a call? One leg. Iron condor? Four legs. The calculator sets up the right structure for you.

Step 3: Choose an expiration. You'll see DTE for each date and monthly expirations are highlighted. If the company reports earnings before your expiration, you'll get a warning.

Step 4: Click a strike in the chain to fill each leg. You'll see live bid/ask, IV, delta, and open interest for every strike. ITM strikes are highlighted so you don't accidentally pick the wrong side.

Step 5: Review the results — max profit, max loss, breakeven, probability of profit, net Greeks, payoff diagram, and a full P&L heat map across prices and dates. Everything you need to decide if the trade is worth it.

Don't have a specific ticker? Use manual entry mode to model a hypothetical trade. Just enter a stock price, strike, premium, and IV directly.

It depends on what you think the stock will do. Here's the quick version:

• Bullish: Long Call, Bull Call Spread, Bull Put Credit Spread, Cash-Secured Put
• Bearish: Long Put, Bear Put Spread, Bear Call Credit Spread
• Neutral / Income: Covered Call, Iron Condor, Covered Strangle, Collar — these are my bread and butter
• Big move, don't know which way: Straddle (ATM) or Strangle (OTM). I rarely use these, but they have their place around earnings.
• Wheel Strategy: Cash-Secured Put → Covered Call cycle for recurring income. This is how I grew a $6K account. Read the Wheel Guide →

Long Call P&L at Expiry: Max(0, Stock Price − Strike) − Premium Paid

Long Put P&L at Expiry: Max(0, Strike − Stock Price) − Premium Paid

Short Option P&L: Premium Received − Intrinsic Value at Expiry

Breakeven (Long Call): Strike + Premium Paid

Breakeven (Long Put): Strike − Premium Paid

Annualized Yield: (Premium / Capital) × (365 / DTE)

Before expiration, the calculator uses Black-Scholes pricing to estimate what your option is worth. It factors in time remaining, IV, the risk-free rate, and current stock price. It's not perfect — IV changes constantly — but it gets you close enough to make good decisions.