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Options Calculator
Calculate profit, loss, breakeven, and risk/reward for call and put options.
Calls & Puts
Analyse both call and put options with full P&L breakdown
Breakeven Analysis
See exactly where your trade turns profitable
Risk/Reward
Understand your maximum risk and potential reward
Calculate Options Profit & Loss
Enter your option details to see potential profit, loss, and breakeven price.
How to Calculate Options Profit & Loss
The P&L Formula
Call P&L = max(0, Stock - Strike) - Premium
Put P&L = max(0, Strike - Stock) - Premium
Total = P&L per share x 100 x Contracts
Each option contract represents 100 shares. The premium is your cost per share. Your P&L is the intrinsic value at expiry minus the premium you paid, multiplied by the number of shares.
Worked Example
You buy 1 call option with a strike of £100 for a premium of £5 per share. If the stock rises to £115 at expiry: P&L = (£115 - £100 - £5) x 100 = £1,000 profit. If the stock stays at £100 or below, your maximum loss is £5 x 100 = £500 (the total premium paid).
Understanding Breakeven Price
Call Option Breakeven
Breakeven = Strike Price + Premium Paid. The stock must rise above this price for you to profit. For example, a £100 strike call with a £5 premium breaks even at £105. Every pound above £105 is pure profit (x100 shares per contract).
Put Option Breakeven
Breakeven = Strike Price - Premium Paid. The stock must fall below this price for you to profit. For example, a £100 strike put with a £3 premium breaks even at £97. Every pound below £97 is pure profit (x100 shares per contract).
How to Use This Options Calculator
Select Option Type
Choose call (bullish) or put (bearish).
Enter Trade Details
Stock price, strike price, premium, and contracts.
Review Results
See P&L, breakeven, max risk, and price table.
Calls vs Puts: Key Differences
- Call Options. Give you the right to buy at the strike price. You profit when the stock rises above your breakeven. Maximum loss is the premium paid; maximum profit is theoretically unlimited.
- Put Options. Give you the right to sell at the strike price. You profit when the stock falls below your breakeven. Maximum loss is the premium paid; maximum profit is the strike price minus premium (stock cannot fall below zero).
- In the Money (ITM). A call is ITM when stock price is above strike; a put is ITM when stock price is below strike. ITM options have intrinsic value and cost more in premium.
- Time Decay. All options lose value as expiry approaches (theta decay). This calculator shows intrinsic value at expiry — actual P&L before expiry may differ due to remaining time value.
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