Free Options Profit Calculator (Multi-Leg)
This calculator shows the profit or loss of an options position at expiration for any stock price. Add up to four legs to see max profit, max loss, breakeven and the payoff diagram.
Max loss is −$800; max profit is Unlimited; breakeven at expiration is $92 and $108.
Educational estimate, not advice.
How it works
Each leg's value at expiration is computed for a range of prices, multiplied by quantity and the contract multiplier, then added together.
- Long call = max(P − K, 0) − premium
- Short call = premium − max(P − K, 0)
- Long put = max(K − P, 0) − premium
- Short put = premium − max(K − P, 0)
- Total = Σ leg payoff × quantity × 100
Worked example
A long $100 call bought for $3.00: max loss is $300, breakeven is $103, and profit is unlimited above that.
Limitations
Shows values at expiration only; ignores commissions, early assignment, dividends and the time value an option has before expiry.
Questions
How do I calculate options profit?
At expiration, take the option's intrinsic value, subtract the premium paid and multiply by 100 per contract.
Does it work for spreads?
Yes — add one leg per option to model verticals, iron condors and covered calls.
Why does it say Unlimited?
When the payoff keeps rising (long call) or falling (short call) beyond the chart, the maximum has no cap.
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