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Options Profit Calculator

Global tools

An option is a contract on 100 shares, so the price quoted for it is never the amount of money at stake: a $3.50 premium on one contract is $350, and the same contract is worth $1,000 if the stock finishes $10 above the strike. This calculator turns the quote into those dollars.

Options Profit Calculator - Danfio

https://danfio.com/tools/options-profit-calculator/ - printed from this page

Currency: USD ($) - display only, nothing was converted

A call pays when the share price finishes above the strike plus the premium; a put pays when it finishes below the strike minus the premium. The type decides which side of the strike the payoff lives on.

A long option can lose its premium and no more. A short one collects the premium and carries the obligation.

How many contracts are open. One contract covers 100 shares, so the whole position is this number times 100 times the per-share premium.

$

The price per share the contract locks in.

$

What the option itself costs, per share. One contract covers 100 shares, so the per-share price is multiplied by 100.

$

The only input the payoff depends on. This is not a forecast - it is the price you want to test.

$

Charged once to open and once to close. Many brokers charge a small per-contract commission with no ticket fee.

Results update as you type. Nothing leaves your device.

Currency symbol

Symbol only - nothing is converted and no exchange rate is used. Figures quoted in the explanation text stay as the sources publish them.

Profit at expiration

$648.70

100 shares at a break-even of $103.51, worth $1,000.00 with the stock at $110.00.

Return on the premium
184.66%
Break-even price
$103.51 3.51% from the strike
Maximum profit
Unlimited A long call has no ceiling
Maximum loss
-$351.30 The premium and the fees, and no more

What the option is worth against what it cost

  • Premium and commissions$351.30
  • Value at expiration$1,000.00

Both bars are drawn against whichever figure is larger. The trade is only ahead once the value at expiration clears the premium and the commissions charged on opening and on closing.

The arithmetic behind the answer

LinePer shareFor the position
Premium$3.50$350.00
Commissions, open and close$0.01$1.30
Cash paid at the open$3.51$351.30
Value at expiration$10.00$1,000.00
Profit at expiration$6.49$648.70
Break-even price$103.513.51% from the strike

The per-share column is the one that travels: the break-even moves with the premium per share, not with the number of contracts held.

The same trade at other prices on expiration day

Price at expirationOption valueProfit or lossReturn on the premium
Underlying at zero - $0.00$0.00-$351.30-100%
25% below the strike - $75.00$0.00-$351.30-100%
10% below the strike - $90.00$0.00-$351.30-100%
At the strike - $100.00$0.00-$351.30-100%
Break-even price - $103.51$351.30$0.000%
The price you typed - $110.00$1,000.00$648.70184.66%
25% above the strike - $125.00$2,500.00$2,148.70611.64%
50% above the strike - $150.00$5,000.00$4,648.701,323.28%
Double the strike - $200.00$10,000.00$9,648.702,746.57%

One row per closing price, all valued at expiration. The break-even row hands back exactly the premium and the commissions; the rows beyond it are paid for by the option finishing in the money.

One call on 100 shares at a $100.00 strike cost $351.30 including $1.30 of commissions, and every contract covers 100 shares. With the stock at $110.00 the right is worth $1,000.00, so the trade makes $648.70. It turns a profit once the stock is above $103.51.

What this page deliberately leaves out

  • Time value. Before expiration an option trades for its intrinsic value plus whatever the market pays for the time left, so every figure here is the value the option decays towards, not its price today.
  • Implied volatility and the Greeks. Nothing here estimates a probability - it is arithmetic on a price you supply, not a forecast of which price is likely.
  • Closing the position early. Selling an option back before expiration usually means crossing the bid-ask spread, so a position can be down even when the intrinsic value says it is up.
  • Early exercise and assignment. Equity options can be exercised before expiration, often around a dividend, and a short leg can be assigned at any time, which is why the cash and the margin behind a short position matter more than this number.
  • Multi-leg positions. A spread, a straddle or a covered call is several of these legs at once; this page prices one of them.
  • Taxes. Holding periods, the wash-sale rule and the special treatment of broad-based index options are not modelled.

Enter the type of option, which side of the trade you are on, the strike, the premium, the price you want to test at expiration and the commission your broker charges, and the page reports the profit or loss at expiration, the return on the premium, the break-even price and a price ladder from a worthless underlying to double the strike.

About this options profit calculator

This page answers one question: if the option is held until it expires and the stock is at some particular price that day, what is the trade worth? That figure is the intrinsic value, the part of an option price that a payoff diagram draws. It is not a forecast, and it does not need one - every number here comes from the strike, the premium and the price you type.

What it deliberately leaves out is everything that depends on the future and on assumptions you cannot check: time value, implied volatility, the probability that any price happens, early exercise, assignment and the bid-ask spread you would cross to close a position before expiration. A calculator that quietly assumed a volatility would print a number that looks precise and cannot be reproduced, which is worse than printing the intrinsic value and saying what it is.

The other half of the page is the arithmetic people get wrong on paper: one contract covers 100 shares, so the premium is multiplied by 100 and the commission is charged twice, once to open and once to close. A trade can be up on the option price and still lose money once both commissions are counted, which is why the net premium and the round-trip commission are shown as separate figures rather than folded into a single adjusted price.

How this options profit calculator works

The arithmetic at expiration

The intrinsic value of one share is what the right is worth the moment it expires: for a call, the amount the stock finishes above the strike, and for a put, the amount it finishes below it. Neither can be negative, because the owner of an option simply does not exercise a right that is worth nothing.

A long position pays the premium and collects that payoff, so the profit is the payoff on the whole position minus the premium and both commissions. A short position collects the premium and pays the payoff, which is the same expression with the sign reversed. The break-even price is the strike plus, for a call, the cost per share of the premium and the commissions - the price at which the payoff exactly repays what the position cost.

One contract is 100 shares

A standard US listed equity option covers 100 shares of the underlying, a market constant set by the exchanges and cleared through the Options Clearing Corporation rather than a setting on this page. That is why a premium of $3.50 on one contract costs $350, and why a $1 move in the stock moves the value of the position by $100.

The multiplier is what makes options leveraged compared with buying the shares outright, and it cuts in both directions. The same $350 controls 100 shares, and the same $350 is what a long position can lose in full.

Two commissions, one at each end

A per-contract commission is charged when the position is opened and again when it is closed or exercised, so a round trip costs twice the per-contract figure. On one contract at $0.65 that is $1.30, which is small next to a $350 premium but not next to a $35 one.

This page charges both sides because a position held to expiration still ends with a sale, an exercise or an expiry that the broker charges for. If your broker charges no commission on closing, set the field to zero and the arithmetic changes by exactly that amount.

What a short option changes

Selling an option reverses the cash flow and the risk. The premium is collected up front, which caps the profit at that credit, while the loss depends on what the stock does. A short put has a floor that arrives when the stock reaches zero, but a short call has no floor at all: every dollar the stock rises past the break-even adds another dollar to what the position owes.

That is why the page prints those two cases in words rather than as a number. A maximum loss that does not exist cannot be formatted, and a large finite-looking figure would understate the risk. Selling options also brings margin and assignment into play, which this page does not model.

Worked examples

Each example below was run through the calculator on this page when the site was built, so the numbers match what you see when you enter the same inputs.

A long call that finishes $10 in the money

Type of option: Call - the right to buy · Your position: Long - you bought the option · Contracts: 1 · Strike price: $100.00 · Premium per share: $3.50 · Share price at expiration: $110.00 · Commission per contract: $0.65

Profit at expiration

$648.70

100 shares at a break-even of $103.51, worth $1,000.00 with the stock at $110.00.

Return on the premium: 184.66% · Break-even price: $103.51 · Maximum profit: Unlimited · Maximum loss: -$351.30

The contract is worth $1,000 at expiration against $350 of premium and $1.30 of commissions, so the trade clears $648.70 and breaks even at $103.51 - just under the $110 finish.

A long put with two contracts in the money

Type of option: Put - the right to sell · Your position: Long - you bought the option · Contracts: 2 · Strike price: $50.00 · Premium per share: $2.20 · Share price at expiration: $40.00 · Commission per contract: $0.65

Profit at expiration

$1,557.40

200 shares at a break-even of $47.79, worth $2,000.00 with the stock at $40.00.

Return on the premium: 351.88% · Break-even price: $47.79 · Maximum profit: $9,557.40 · Maximum loss: -$442.60

The put is worth $2,000 on 200 shares against a $440 premium and $2.60 of commissions, leaving a profit of $1,557.40. The break-even sits at $47.79, below the strike, because a put gains as the stock falls.

A short call overtaken by the stock

Type of option: Call - the right to buy · Your position: Short - you sold the option · Contracts: 1 · Strike price: $25.00 · Premium per share: $1.10 · Share price at expiration: $28.00 · Commission per contract: $0.65

Loss at expiration

-$191.30

100 shares at a break-even of $26.09, worth $300.00 with the stock at $28.00.

Return on the premium: -175.99% · Break-even price: $26.09 · Maximum profit: $108.70 · Maximum loss: Unlimited

The premium collected is $108.70 after commissions, but the contract has to be settled at $300, so the trade loses $191.30. The break-even is $26.09: the stock has to stay below that for the seller to keep anything.

A short put on five contracts that expires in the money

Type of option: Put - the right to sell · Your position: Short - you sold the option · Contracts: 5 · Strike price: $40.00 · Premium per share: $1.75 · Share price at expiration: $35.00 · Commission per contract: $0.50

Loss at expiration

-$1,630.00

500 shares at a break-even of $38.26, worth $2,500.00 with the stock at $35.00.

Return on the premium: -187.36% · Break-even price: $38.26 · Maximum profit: $870.00 · Maximum loss: -$19,130.00

Collecting $870 after $5.00 of commissions while the puts settle for $2,500 leaves a loss of $1,630.00 on 500 shares - the mirror image of buying the same put, and the reason a short put is a promise to buy the stock at the strike.

Frequently asked questions

How do I calculate the profit on an option?

Value the option at expiration, multiply by 100 shares per contract, and subtract what the position cost. A call is worth the amount the stock finished above the strike and a put the amount it finished below, neither less than zero. From that payoff, take the premium and the commissions charged on both sides.

Why is my profit not just the option price change?

Because the price quoted for an option is per share, and one contract covers 100 shares. A premium that moves from $3.50 to $5.00 is a $150 gain on one contract, not $1.50 - and once $1.30 of round-trip commissions is counted, the profit is $148.70.

What is the break-even price of an option?

It is the price of the stock at expiration where the payoff exactly repays the premium and the commissions. For a call it sits above the strike by the cost per share: on one contract at a $100 strike with a $3.50 premium and $1.30 of commissions it is $103.51. For a put it sits the same distance below the strike.

Can a long option lose more than the premium?

No. The buyer of an option holds a right, not an obligation, and can let it expire worthless, so the most a long position can lose is the premium plus the commissions paid. A short position is the one with open-ended risk, which is why the page warns in words instead of printing a maximum loss for a short call.

What does this calculator leave out?

Time value, implied volatility, the probability of any price, early exercise, assignment, the bid-ask spread you would cross to close early, taxes and multi-leg positions such as spreads, straddles and covered calls. It prices one leg at expiration, using the price you supply rather than a forecast of what the stock will do.

Do I still pay a commission if the option expires worthless?

You pay the commission to open the position whatever happens afterwards, and most brokers charge again to close or exercise. If an option expires worthless there is often nothing to close, so the second commission may never be charged - set the field to zero if that is how your account works, and the profit figure rises by exactly that fee.

Assumptions and sources

  • Payoff arithmetic: at expiration a call is worth the share price minus the strike when that is positive and nothing otherwise, and a put is worth the strike minus the share price when that is positive and nothing otherwise, each multiplied by 100 shares per contract, the standard US listed-equity-option size cleared through the Options Clearing Corporation; break-even is the strike plus (for a call) or minus (for a put) the premium and commissions per share, and your broker sets its own commission schedule.
  • This is not investment advice. Options can expire worthless, a short option carries open-ended or large risk, and selling one requires margin and can be assigned early. The calculator works on the numbers you enter and says nothing about whether a trade is sensible.
  • Runs in your browser; nothing is uploaded.

Last reviewed 2026-10-08. Not investment or insurance advice; quotes come from a licensed provider. Read the full disclaimer.

Where a figure on this page comes from an official agency — HUD, IRS, FICO or a state body — the site keeps a dated snapshot of the source page in its sources library, and a scheduled job re-checks that snapshot, so the number can be traced back to the document it came from.

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