Options P/L calculator.

For a long call or put, your profit at expiration is the difference between the stock price and the strike price (for calls) or the strike and stock price (for puts), minus the premium paid, multiplied by 100 (the standard contract size). Your max loss is limited to the premium paid.

For a long call, breakeven equals the strike price plus the premium paid. For a long put, it's the strike price minus the premium. At expiration, the underlying must be beyond your breakeven for the trade to be profitable after accounting for the cost of the option.

A payoff diagram plots your profit or loss at various stock prices at expiration. The x-axis is the stock price, and the y-axis is your P/L. It visually shows your max profit, max loss, and breakeven - making it easy to understand the risk profile of any options position before you trade it.

No. Most options traders close positions before expiration. The P/L before expiration depends on the option's current market price, which is affected by time decay (theta), implied volatility changes, and the underlying stock's movement. This calculator shows the expiration payoff as a baseline reference.