calculator
Free Options Strategy P/L Calculator
Calculate maximum profit, maximum loss, breakeven points, and probability-of-profit for the eight most-traded options strategies: long call, long put, covered call, cash-secured put, vertical debit/credit spreads, iron condor, and short straddle. Uses Black-Scholes-based probability assuming lognormal price distribution. Built for retail and semi-pro traders who don't want to open a brokerage paper account just to model a position.
Inputs
Results
Net Debit (+) / Credit (-)
$450
Max Profit
$999,999
Max Loss
$450
Breakeven 1 (Lower)
$205
Breakeven 2 (Upper, if applicable)
$0
Profit Range Lower Bound
$205
Profit Range Upper Bound
$0
Probability of Profit at Expiry
29.8%
Risk:Reward Ratio
0
Return on Max Risk
0.0%
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About the Author
David Shadrake
David Shadrake works on strategic business development and tech partnerships, with focus areas across AI, fintech, venture capital, growth, sales, SEO, blockchain, and broader tech innovation. Read more of his perspective on partnerships, market dynamics, and emerging technology at davidshadrake.com.