Options profit calculator
Enter your own strikes and premiums. This computes what your position pays at expiry. It does not tell you what to trade.
Disclosure: I earn nothing from this page. There are no affiliate links here, no broker deals, and nothing is gated. If that ever changes, I will say so right here, in this spot, before anything else.
The probability number here will not match your broker's. Probability of profit is not one number explains why, and which one flatters you.
| Leg | Type | Side | Strike | Price per share | Qty |
|---|
Stock legs use 100 shares per unit of quantity, so one covered call is 1 stock unit against 1 short call. Option prices are per share, the way your broker quotes them.
Net debit / credit
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Max profit
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Max loss
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Breakeven
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Prob. of profit
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Table view
| Underlying at expiry | P/L | Return on risk |
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Where to go next
- Probability of profit is not one number Why implied and realized volatility give different answers, and which one flatters you.
- Futures calculator Tick values, P/L and position sizing across 25 CME contracts.
- 8 best trading apps for beginners Where to actually place any of this.
- The trading journal Real trades, real size, and the drawdown that produced these rules.
Want the spreadsheet version?
The calculator stays free and open either way. If you want the underlying model as a spreadsheet you can edit, plus a note when I add another tool, leave your email. No sequence, no pitch, no selling your address to anybody.
How the numbers are produced. Payoff is computed at expiry only, from the strikes and prices you enter. It ignores commissions, assignment before expiry, dividends, and any change in the option's value before the expiry date.
Probability of profit is a model estimate: it assumes the underlying price at expiry is lognormally distributed with zero expected drift and the annual volatility you typed in the box. That is not implied volatility from the market, and it is not a forecast. Real option prices reflect implied vol, which is usually higher than realized vol, so a probability computed this way will disagree with your broker's.
Nothing here is investment advice, a recommendation, or a solicitation. Options carry risk of total loss and short options carry risk beyond the premium collected. Check live quotes before trading anything.
Nothing here is investment advice, a recommendation, or a solicitation. Options carry risk of total loss and short options carry risk beyond the premium collected. Check live quotes before trading anything.