Options Profit Calculator
An options profit calculator shows you the maximum profit, maximum loss, and breakeven price for any options trade before you place it. Select your strategy below, enter your inputs, and get an instant P&L breakdown.
Options P&L Calculators by Strategy
Every options strategy has a different profit and loss profile. Choose the calculator that matches your trade to model P&L, breakeven, and return metrics using live options data.
Income strategies
Generate premium income from stocks you own or want to own. Both strategies cap upside in exchange for defined, repeatable cash flow.
Directional strategies
Defined-risk directional plays when you expect a meaningful move up or down before expiration.
How Options Profit Is Calculated
Options P&L depends on the strategy. The two universal inputs are the premium paid or received and the stock price at expiration. From there, each strategy has its own formula.
| Strategy | Max Profit | Max Loss | Breakeven |
|---|---|---|---|
| Long Call | Unlimited | Premium Paid | Strike + Premium |
| Long Put | (Strike − Premium) × 100 (if stock → 0) | Premium Paid | Strike − Premium |
| Covered Call | (Strike − Cost Basis + Premium) × 100 | Cost Basis − Premium (to zero) | Stock price − Premium* |
| Cash-Secured Put | Premium Received | (Strike − Premium) × 100 | Strike − Premium |
All formulas apply per contract (100 shares). Multiply by the number of contracts for total P&L. * Covered call calculators use the current stock quote as cost basis.
What Is an Options Profit Calculator?
An options profit calculator models the P&L of an options position at expiration. Choose a strategy, load a ticker, pick strike and expiration from the live chain, set contracts — and the calculator outputs maximum profit, maximum loss, breakeven price, and return on risk.
Benzinga calculators load live options chain data for any U.S. stock or ETF, so premiums reflect real bid/ask quotes rather than hypothetical numbers.
Live options data
Real bid, ask, and midpoint premiums from the chain — no manual premium entry.
Full P&L metrics
Breakeven, max profit, max loss, return on risk, and payoff at any target price.
Payoff diagrams
Interactive charts show profit or loss at every stock price at expiration.
How to Choose the Right Options Strategy
The right strategy depends on your market outlook, whether you already own shares, and how much risk you want to take.
| If you… | Use this strategy | Calculator |
|---|---|---|
| Own shares and want to generate monthly income | Covered Call | Open calculator → |
| Want to buy stock at a discount while earning premium | Cash-Secured Put | Open calculator → |
| Expect a stock to rally significantly | Long Call | Open calculator → |
| Expect a stock to fall, or want to hedge | Long Put | Open calculator → |
| Cycle between income strategies systematically | The Wheel (CSP → CC) | Open calculator → |
Options Calculator FAQ
What is an options profit calculator?▾
How do you calculate profit on an options trade?▾
How do you calculate breakeven on an options trade?▾
What is the most popular options strategy for income?▾
What is the difference between a long call and a long put?▾
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