OFPayoff Spectrum

Payoff studio · updated 2026-07-30

Options Profit Calculator

Model option profit, loss, breakeven, and payoff shape at expiration before you commit to a trade idea.

Open the calculatorStudy examples

What this site gives you

A complete payoff workflow, not a hype page.

Use the calculator, formula map, payoff diagram guide, and checklist to understand the mechanics. The community link is only an optional bonus after the core answer.

  1. Choose the strategy
  2. Enter strikes, premiums, and contracts
  3. Compare target-price P/L to breakeven
  4. Read the risk notes before acting

Interactive payoff studio

Options payoff workbench

Choose a strategy, enter your assumptions, and review expiration P/L, breakeven, max risk, and payoff shape in one focused panel.

Expiration P/LBreakevenMax riskPayoff shape

Scenario output

Enter assumptions and calculate the payoff.

Simplified expiration math only. Results exclude commissions, bid/ask spread, early assignment, exercise decisions, margin, taxes, dividends, borrow costs, interest rates, changing implied volatility, and before-expiration Greeks.

StrategyBreakevenMax lossRisk note
Long callStrike + premiumPremium paidNeeds upside move and time/volatility can matter before expiration.
Long putStrike - premiumPremium paidDownside move must overcome premium and friction.
Covered callShare basis - premiumStock downside less premiumUpside is capped if assigned; downside remains stock-like.
Cash-secured putStrike - premiumStrike less premium, to zeroAssignment can create stock ownership at an unfavorable basis.
Vertical spreadLong strike plus/minus net debitNet debit paidDefined risk and defined reward depend on spread width.

Primary reading: OIC Profit and Loss Simulator · FINRA options overview · SEC Investor Bulletin on options · OIC options pricing overview

Optional bonus

Join the Free Options Formula Trading Lab

Get the options process in one place: structured trade ideas, research tools, calculators, education, market context, and support from traders focused on defined-risk setups.

Join the Free Trading Lab

No hype, no promises of wins, and no pretending every setup works. The free group is built to help you make every trade a clear decision instead of a reaction.