Calculate your exact profit, loss, and breakeven for any call or put option.
| Stock Price | Intrinsic Value | P&L / Share | Total P&L | ROI % |
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Select whether you're trading a call (right to buy) or put (right to sell) option, then choose your position as either long (buyer) or short (writer/seller). Enter your strike price, the premium you paid or received per share, the number of contracts, and the current stock price. Hit Calculate P&L to instantly see your profit or loss, breakeven point, and a full breakdown table.
Options pricing can feel abstract until you see the numbers laid out clearly. A trader who buys 2 call contracts on a $150 stock with a $5 premium is risking $1,000 total (2 × 100 × $5). If the stock climbs to $165, each share is worth $15 in intrinsic value — that's $2,000 total, a $1,000 gain and a 100% return on investment. But if the stock stays below $150 at expiration, the entire $1,000 is lost.
For short (written) options, the dynamics flip. A covered call writer collects the premium upfront but caps their upside. A naked put seller collects premium but assumes significant downside risk if the stock crashes. Knowing exactly where your breakeven is — and what happens at every price level — is essential for managing risk. This calculator gives you that complete picture in seconds, whether you're a beginner exploring options or an active trader stress-testing a position.
Each standard options contract controls 100 shares. Here are the core formulas:
Note: This calculator shows intrinsic value P&L at expiration and does not account for time value (theta), implied volatility, or other Greeks. For pre-expiration scenarios, actual option prices will differ based on time remaining and IV.
Intrinsic value is the real, exercise value of an option — for a call, it's how far the stock is above the strike price. The premium is the total price you pay for the option, which includes both intrinsic value and time value. At expiration, time value goes to zero, so the premium equals intrinsic value (or zero if out of the money).
A long call gives you the right to buy shares at the strike price no matter how high the stock goes. Since there's theoretically no ceiling on how high a stock can climb, a long call's maximum profit is unlimited. Short calls, on the other hand, have unlimited theoretical loss potential for the same reason.
No — this tool shows gross P&L before commissions, fees, or taxes. Most brokers charge per-contract fees ranging from $0.50 to $1.00. For active traders, these add up and should be factored into your actual profit calculations, especially on low-premium, high-volume strategies.
Going "short" an option means you're the seller (writer) of the contract, not the buyer. You collect the premium upfront but take on the obligation to fulfill the contract if the buyer exercises it. Short puts obligate you to buy shares at the strike; short calls obligate you to sell. Short positions require margin and carry more risk than buying options outright.