Options Profit Calculator (Calls and Puts at Expiry)
Enter the option type, strike, premium and the stock price at expiry to see the result.
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Options Profit Calculator (Calls and Puts at Expiry) by TheCalcTools
How the Options Profit Calculator (Calls and Puts at Expiry) works
At expiration a call is worth max(stock − strike, 0) per share and a put max(strike − stock, 0). The buyer’s profit is that value minus the premium paid, times the shares covered; the seller’s is the opposite.
Before expiry, options also carry time value, so their market price differs from this payoff. This calculator ignores commissions, early exercise and taxes.
The formula
Worked example
Using the default values shown in the calculator:
| Option | Call |
|---|---|
| Position | Buy (long) |
| Strike price | $100 |
| Premium per share | $4.5 |
| Contracts | 2 |
| Shares per contract | 100 |
| Stock price at expiration | $112 |
- Buying 2 calls (200 shares) at the 100 strike for $4.50, with the stock at $112: $1,500.00.
- Break-even is $104.50; maximum loss $900.00.
Result:
| Profit or loss at expiry | $1,500.00 |
|---|---|
| Break-even stock price | $104.50 |
| Return on premium | 166.7% |
| Maximum profit | Unlimited |
| Maximum loss | $900.00 |
Frequently asked questions
What is the break-even for a call?
Strike plus premium. A 100 call bought for $4.50 needs the stock above $104.50 at expiry to profit.
Why is a short call's loss unlimited?
The stock price has no upper limit, so the obligation to sell at the strike can cost any amount.
Sources and further reading
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This calculator gives estimates for information only. It is not financial advice, and your lender's or provider's figures will govern. Rates, fees and rules vary. See our disclaimer.