Options Profit Calculator

A Long Call buys one call option and gives the holder the right to buy shares at the selected strike before expiration. It is a defined-risk position that can benefit when the underlying price rises.

A Long Put buys one put option and gives the holder the right to sell shares at the selected strike before expiration. It is a defined-risk position that can benefit when the underlying price falls.

A Covered Call combines long shares with a short call option. The stock position participates in downside movement, while the short call premium can provide income and caps upside above the call strike.

A Cash-Secured Put sells one put while reserving sufficient cash to purchase shares if assigned. The position collects option premium in exchange for the obligation to buy at the selected strike.

A Protective Put combines long shares with a purchased put option. The stock retains upside participation, while the put can establish a lower exit value at the selected strike before expiration.

A Bull Call Spread buys one call at a lower strike and sells one call at a higher strike with the same expiration. Both risk and profit potential are defined at entry, and the net cost is lower than buying a call outright.

A Bear Put Spread buys one put at a higher strike and sells one put at a lower strike with the same expiration. This creates a defined-risk, defined-reward position with lower cost than buying a put alone.

An Iron Condor combines a bull put spread and a bear call spread. It profits when the underlying stays within a defined range between the short strikes, collecting premium from all four options.

A Long Straddle buys both a call and a put at the same strike and expiration. It profits from large price movements in either direction, regardless of which way the underlying moves.

A Long Strangle buys an out-of-the-money call and an out-of-the-money put with the same expiration. It costs less than a straddle but requires a larger move to profit.

A Butterfly Spread uses three strikes: buy one option at a lower strike, sell two options at a middle strike, and buy one option at a higher strike. It profits when the underlying stays near the middle strike at expiration.

A Calendar Spread (also called a Time Spread) sells a near-term option and buys a longer-term option at the same strike. It profits from the faster time decay of the short-term option.