Options Break-Even Calculator

Find the break-even price, max profit, and max loss for call and put options — plus a full payoff table at expiry.

Strike Price ($)

Premium Paid (per share, $)

Contracts (1 = 100 shares)

Days to Expiration

Underlying Price Now (optional, $)

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Break-Even at Expiry

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Max Profit

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Max Loss (total)

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Total Premium Paid

Payoff at Expiry — Price Scenario Table

Stock Price at Expiry	Option Status	Per-Share P/L	Contract P/L	Total P/L (1 contracts)

Options Glossary

Strike Price

The price at which the option grants the right to buy (call) or sell (put) the underlying stock.

Premium

The cost you pay per share for the option contract. Total cost = premium × 100 × contracts.

ITM (In the Money)

Call: stock above strike. Put: stock below strike. The option has intrinsic value.

ATM (At the Money)

Stock price equals (or is very close to) the strike price.

OTM (Out of the Money)

Call: stock below strike. Put: stock above strike. Only time value remains.

Expiration / DTE

The date (or days until) the contract expires. After expiry, the option is worthless if OTM.

How Break-Even Is Calculated

Call option: Break-even = Strike + Premium. You need the stock to rise above this price by expiry to profit. Put option: Break-even = Strike − Premium. You need the stock to fall below this price.

Max Profit and Max Loss

For a long call: max loss is the total premium paid (the option expires worthless). Max profit is theoretically unlimited — the stock can rise indefinitely. For a long put: max loss is the premium paid. Max profit is limited to Strike − Premium per share (stock can only fall to $0).

1 Contract = 100 Shares

Standard US equity options represent 100 shares. A $3.50 premium per share means $350 total per contract. Always multiply by 100 when calculating actual dollar exposure.