Options Profit Calculator
Calculate profit, loss, break-even and Black-Scholes Greeks for Call and Put options — Long and Short positions supported
4 Position Types
Long Call, Short Call, Long Put, Short Put — with correct max profit, max loss, and break-even for each
Black-Scholes Greeks
Instantly calculate Delta, Gamma, Theta (daily decay) and Vega using the Black-Scholes model
Expiry PNL Table
See your profit or loss at 11 price scenarios across a ±30% range with the break-even row highlighted
Related Keywords & Topics
Options Profit Calculator
Call & Put · Long & Short · Black-Scholes Greeks
Option Parameters
Long: you buy the option and pay the premium
PNL Results
Long Call
1 contract · 100 shares
Fill in Underlying Price, Strike Price and Premium to see results
Complete Guide to Options Trading
Call vs Put Options
📈 Call Option
- • Right to BUY at the strike price
- • Profitable when underlying goes UP
- • Long Call: unlimited profit potential
- • Break-even = Strike + Premium
📉 Put Option
- • Right to SELL at the strike price
- • Profitable when underlying goes DOWN
- • Long Put: profits limited to strike − premium
- • Break-even = Strike − Premium
Max Profit & Loss by Position
| Position | Max Profit | Max Loss | Break-Even |
|---|---|---|---|
| Long Call | Unlimited | Premium Paid | Strike + Premium |
| Short Call | Premium Received | Unlimited | Strike + Premium |
| Long Put | Strike − Premium | Premium Paid | Strike − Premium |
| Short Put | Premium Received | Strike − Premium | Strike − Premium |
Understanding the Greeks
Delta (Δ)
Range: 0 to 1 (Call) / -1 to 0 (Put)
How much the option price changes for every $1 move in the underlying. An ATM option has ~0.5 Delta.
Gamma (Γ)
Range: Always positive
Rate of change of Delta. Highest for ATM options near expiry — Delta changes quickly as price moves.
Theta (Θ)
Range: Usually negative for buyers
Daily time decay. Long options lose this much value every day — even if the stock doesn't move.
Vega (ν)
Range: Always positive
Sensitivity to implied volatility. A 1% rise in IV increases the option value by this amount.
Options Trading Tips
Tip 1: Theta is your enemy as a buyer but your friend as a seller — short options strategies profit from time decay.
Tip 2: Buy options when IV is low (cheap premiums) and sell when IV is high (expensive premiums).
Tip 3: Check the break-even price before entering any trade — the underlying must move beyond break-even for a Long option to profit at expiry.
Common Options Mistakes
❌ Ignoring Theta Decay
Long options lose value every day. An option that looks profitable today may expire worthless if the underlying doesn't move fast enough.
❌ Buying Expensive High-IV Options
High implied volatility inflates premiums. Buying options right before earnings (when IV spikes) often leads to an "IV crush" loss even if the move is in your favour.
❌ Selling Naked Calls Without a Plan
Short calls have theoretically unlimited risk. Always have a defined exit strategy or hedge when writing uncovered options.