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Option Profit Calculator

Enter option type, strike price, premium paid, number of contracts, and the underlying price at expiration to see profit or loss per contract, total P&L, and the breakeven price. This calculator covers long calls and long puts only.

Risk notice: Options can lose 100 percent of the premium invested if the option expires out of the money. Options trading involves substantial risk and is not suitable for all investors. This calculator is for educational purposes only and is not financial or investment advice.

Inputs

One contract = 100 shares. Enter the per-share price quoted in the options chain.

Results

Total P&L--
Profit or loss per contract--
Breakeven price at expiration--
Max loss (100% of premium)--
Option status--

Enter your option details above.

Jessica Martinez
By Jessica Martinez, Contributing Writer, Business & Finance
Updated June 20, 2026

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How option profit and loss is calculated

A long call makes money at expiration when the underlying price exceeds the strike price plus the premium paid. A long put makes money when the underlying price falls below the strike price minus the premium paid. In both cases, if the option finishes out of the money, it expires worthless and you lose 100 percent of the premium invested in the trade.

The 100 percent loss scenario is common, not rare. Studies of retail options activity consistently show that the majority of options purchased expire worthless. The premium is gone whether the underlying moves a little in the wrong direction or a lot. This is not a warning to avoid options, but a reason to size positions appropriately and understand the math before trading.

Calls vs. puts: what each one bets on

A call option gives you the right to buy 100 shares of the underlying at the strike price before or at expiration. You profit when the underlying price rises above your breakeven (strike plus premium). A put option gives you the right to sell 100 shares at the strike price. You profit when the underlying price falls below your breakeven (strike minus premium). Neither requires you to actually buy or sell the shares: you can sell the option itself before expiration to capture any remaining value.

What this calculator does not cover

This calculator models a long call or put held to expiration. It does not model: options sold short (naked or covered), spreads, straddles, or other multi-leg strategies; time value before expiration (which requires pricing models such as Black-Scholes); dividends or early exercise on American-style options; or broker commissions. For anything beyond a single long option, use a dedicated options analytics platform.

Key terms

TermWhat it means
Strike priceThe fixed price at which you have the right to buy (call) or sell (put) the underlying stock.
PremiumThe price you pay per share for the option. One contract covers 100 shares, so total cost is premium times 100 times number of contracts.
In the moneyA call is in the money when the underlying is above the strike; a put is in the money when the underlying is below the strike.
BreakevenThe underlying price at expiration where profit equals zero. For a call: strike plus premium. For a put: strike minus premium.
Intrinsic valueThe amount an option is in the money. Out-of-the-money options have zero intrinsic value at expiration.

This tool is informational and educational. It is not financial or investment advice. Options trading involves risk of loss, including the total loss of premium paid. Consult a qualified financial professional before trading options. See FINRA's options education at finra.org.

Jessica Martinez
About the author
Jessica Martinez
Contributing Writer, Business & Finance, Encore Editorial

A reformed credit analyst, Jessica Martinez turns dense financial paperwork into something you can actually use. She writes the explainers behind these calculators and checks every formula against a primary source before it ships.

Good to know

FAQs

How do you calculate option profit?

For a long call, profit per share at expiration equals the maximum of zero or (underlying price minus strike price), then subtract the premium paid. Multiply by 100 (shares per contract) and by the number of contracts for total profit or loss. For a long put, profit per share equals the maximum of zero or (strike price minus underlying price), minus the premium. If the option expires out of the money, you lose 100 percent of the premium paid.

What is the breakeven price for a call option?

The breakeven price for a long call is the strike price plus the premium paid per share. At expiration, the underlying stock must be above this price for the trade to be profitable. Below the strike, the call expires worthless and you lose the full premium.

What is the breakeven price for a put option?

The breakeven price for a long put is the strike price minus the premium paid per share. At expiration, the underlying stock must be below this price for the trade to be profitable. Above the strike, the put expires worthless and you lose the full premium.

Can you lose more than the premium on a long option?

No. A buyer of a call or put option has defined risk: the maximum loss is limited to the total premium paid (premium per share times 100 times the number of contracts). The option can expire worthless, which means a 100 percent loss on the capital invested in the trade, but you cannot lose more than you put in.

What does in the money mean for an option?

A call option is in the money when the underlying price is above the strike price, meaning the option has intrinsic value. A put option is in the money when the underlying price is below the strike price. Options that are out of the money at expiration expire worthless. The difference between current price and strike is the intrinsic value; any additional market price above that is time value.