This free options profit calculator draws the payoff diagram for any options position with up to four legs. Enter your calls and puts and see your profit or loss at expiration across the whole price range, plus your max profit, max loss, and breakevens. Educational only, not advice.
Options Profit Calculator
Build a payoff diagram for up to 4 legs. See max profit, max loss, and every breakeven at expiration.
Position legs
Result at expiration
Breakeven price(s)
| Add a leg to calculate | — |
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How to use the payoff calculator
- For each leg, pick long or short, call or put, then enter the strike, premium, and contracts.
- Leave a leg blank to turn it off. Use one leg for a simple trade or up to four for spreads.
- Read the chart and the max profit, max loss, and breakeven readouts.
The math behind it
- Long call payoff at price S = (the greater of S minus strike or 0, minus premium) x 100 x contracts
- Short call flips the sign; puts use strike minus S the same way
- Net payoff = the sum of all active legs at each price
- Breakevens are the prices where the net payoff crosses zero
Options payoff FAQ
What is a payoff diagram?
It is a chart of your profit or loss at expiration for every possible price of the underlying stock. It makes the risk and reward of a spread easy to see at a glance.
Can it handle spreads and multi-leg trades?
Yes. Add up to four legs to model verticals, straddles, strangles, iron condors, and covered positions.
Does this include commissions or assignment?
No. It shows the clean payoff at expiration so you can compare structures. Add your own fees and remember American options can be assigned early.
Educational only, not financial advice.