An options profit calculator with a payoff chart
This options profit calculator shows what an option trade can make or lose. Pick a strategy — long or short call or put, covered call, protective put, bull and bear spreads, straddle, strangle, iron condor or butterfly — or build your own with up to eight legs. It draws the payoff chart and gives the breakeven prices, the maximum profit and the maximum loss at expiry, marking “unlimited” only when the maths says so.
It works for Nifty, Bank Nifty and stock options in India (₹, with the lot size you enter) as well as US and UK options (a multiplier of 100 for US equity options). A dashed line can show the estimated value before expiry using the Black-Scholes model, and a table lists the P&L at the strikes, the breakevens and ±5% and ±10% moves.
How to use the Options Profit Calculator
- Choose a Strategy and your currency. The preset builds strikes around the spot price using the strike step.
- Enter the underlying price, the lot size from your exchange, days to expiry and implied volatility.
- Replace the estimated premiums with the prices you see on your broker’s option chain, and adjust strikes, buy/sell and lots.
- Read the breakevens, max profit and max loss. Drag the slider or move over the chart to read the P&L at any expiry price.
- Tick or untick the before-expiry line and pick the day to see how the position may be valued before expiry.
Options Profit Calculator features
16 presets plus custom legs
Calls, puts and the underlying, bought or sold, up to eight legs and any lot count.
Exact breakevens and extremes
The payoff is checked at every strike and at zero, so maximum profit and loss are exact, not read off a sampled chart.
“Unlimited” done right
A short call or short straddle shows unlimited loss; a short put shows its real worst case if the price falls to zero.
Before-expiry curve
Black-Scholes value on any day you choose, from the volatility and rate you enter.
Lot size you control
Nothing is hard-coded: enter the exchange’s current lot size or the US multiplier of 100.
How option payoff is calculated
At expiry a call is worth max(S − K, 0) and a put max(K − S, 0), where S is the underlying price and K the strike. A buyer’s P&L is that value minus the premium paid; a seller’s is the premium minus that value. Multiply by lots × lot size, then add the legs together.
Because every leg is a straight line with one corner at its strike, the total is also made of straight pieces. The calculator evaluates it exactly at 0 and at every strike, then looks at the slope above the highest strike: if more calls are bought than sold, profit is unlimited; if more are sold, loss is unlimited.
Worked example (long call): buy one lot of 65 of a 25,000 Nifty call at ₹463.80. Max loss is the premium, 463.80 × 65 = ₹30,147. Breakeven is 25,000 + 463.80 = 25,463.80. At 26,000 on expiry the call is worth 1,000, a profit of (1,000 − 463.80) × 65 = ₹34,853.
Iron condor: buy the 24,600 put for 20, sell the 24,800 put for 50, sell the 25,200 call for 55 and buy the 25,400 call for 22. The net credit is 63, so max profit is 63 × 65 = ₹4,095, max loss (200 − 63) × 65 = ₹8,905, and the breakevens are 24,737 and 25,263.
Lot sizes and what is not included
- Indian index lot sizes are revised periodically. NSE’s circular NSE/FAOP/70616 of 3 October 2025 set Nifty 50 at 65 and Bank Nifty at 30 from the January 2026 expiries — always check the exchange’s current contract specification.
- Brokerage, STT, exchange charges, GST, stamp duty and taxes are not included, nor is the margin a short option needs.
- The payoff assumes the option is held to expiry and settled at its intrinsic value. American-style options can be exercised early.
- The before-expiry line uses one volatility for every strike; real markets have a volatility smile. For price, Greeks and implied volatility of a single option, use the Black-Scholes calculator.
Options Profit Calculator FAQ
How do I calculate option profit?
For a bought call, profit at expiry = (price − strike − premium) × quantity when the price is above the strike, otherwise you lose the premium. For a bought put, use (strike − price − premium). The options profit calculator does this for every leg and adds them.
How do I use an option calculator for Nifty?
Enter the Nifty level as the spot, set the lot size to the current NSE lot, pick a strategy and type the premiums from the option chain. Results are shown in rupees with Indian digit grouping.
What is the breakeven of a long call?
Strike plus premium. A 25,000 call bought for 463.80 breaks even at 25,463.80 on expiry.
Why is max loss unlimited for a short call?
The underlying price has no upper limit, and a sold call loses one point for every point the price rises above the strike. A short put’s loss is large but limited, because the price cannot fall below zero.
Is this investment advice?
No. It is a calculator only. Options carry high risk — SEBI’s study published on 23 September 2024 found 93% of individual equity F&O traders lost money over FY22–FY24. Size positions carefully with the position size calculator.
Are the premiums real market prices?
No. Presets estimate premiums with Black-Scholes from the volatility you enter. Replace them with live quotes from your broker for real numbers.