Options Profit Calculator
Key takeaways
- Breakeven at expiry is ₹23,650 — 0.64% above the ₹23,500 strike, the spot at which intrinsic value exactly equals the ₹150 premium. Same figure for buyer and seller.
- Max loss is capped at the ₹9,750 premium paid; max profit has no cap — every ₹1 the spot settles above breakeven adds ₹65 across the position.
- At the ₹23,700 expiry spot entered, the position settles at ₹3,250 (₹50.00 a share × lot size 65 × 1 lot).
- Had the spot settled exactly at the ₹23,500 strike, the option would expire worthless, a P&L of −₹9,750 (the whole premium paid).
Payoff at expiry
Max profit has no cap — the payoff keeps rising to the right of the chart. Payoff is at expiry only: no time value, no charges. The dot marks the spot price entered above.
About the Options Profit Calculator
The Options Profit Calculator works out the profit or loss on a single call or put — bought or sold — from its payoff AT EXPIRY: the plain intrinsic-value arithmetic every options-theory chapter opens with. It assumes European-style settlement, exercised only at expiry, which is how index options such as Nifty and Bank Nifty actually settle, and it reads whatever spot price you enter against the strike you chose.
Choose Call or Put and whether the position was bought (Long) or sold (Short), then enter the strike price, the premium per share paid or received, the spot price at expiry, the lot size and the number of lots. Every output below follows from those six numbers alone.
"Total P&L" and "P&L per share" are the profit or loss at the spot price entered. "Breakeven price" is the spot at which P&L per share is exactly zero — the same figure for the buyer and the seller, since it depends only on the strike and the premium. "Intrinsic value at expiry" is the option's payoff before the premium is added or subtracted, and is never negative. "Max profit" and "Max loss" are the bounds of this exact position at any spot price whatsoever, not just the one entered.
A long position can only lose the premium paid, so its max loss is always finite. A short call's max loss and a long call's max profit are genuinely unbounded — the underlying has no ceiling it is mathematically prevented from rising past — so both show an em dash rather than a made-up large number. This page is the textbook payoff and nothing more: it does not model exiting before expiry (where time value still matters — see the Option Greeks Calculator), brokerage, STT or other charges, or the margin a short position must post to be allowed to sell in the first place. The numbers are the arithmetic of the inputs, not an expectation of what any position will earn.
Frequently asked questions
How is an option's profit at expiry calculated?
Intrinsic value is max(Spot − Strike, 0) for a call and max(Strike − Spot, 0) for a put — never negative. P&L per share is Intrinsic − Premium if you bought, and Premium − Intrinsic if you sold. Total P&L is that figure × Lot size × Number of lots. The buyer's and the seller's results are exact mirror images at the same strike, premium and spot.
What is the breakeven price of an option?
For a call it is Strike + Premium; for a put it is Strike − Premium. It is the spot at which intrinsic value exactly equals the premium, so P&L per share is precisely zero. It is the same number whether you are the buyer or the seller of that contract.
Why do max profit and max loss sometimes show an em dash?
Because the bound genuinely does not exist. A long call's max profit and a short call's max loss are unbounded: there is no price the underlying is prevented from rising past. The app and this page both print an em dash rather than substituting an arbitrarily large number that would look like an answer.
Does this account for time value before expiry?
No. This is the payoff at expiry only, when time value has decayed to zero and only intrinsic value is left. Exiting a position earlier means selling it at a market price that still carries time value, which this page does not model. The Option Greeks Calculator computes a Black-Scholes model price for that situation.
Does it include brokerage, STT or the margin on a short position?
No to all three. The figures are gross. Charges reduce a profit and deepen a loss on both legs, and a short option position also requires margin to be posted and maintained, which this page does not compute — see the Margin and Brokerage calculators.
What does the payoff chart show?
P&L across a range of spot prices at expiry, with the strike and the breakeven marked and the spot you entered shown as a dot. The kink sits exactly at the strike and the line crosses zero exactly at the breakeven, because both prices are sampled exactly rather than interpolated. It is the shape of the arithmetic above — it is not a distribution of outcomes and it says nothing about which spot price is likely.
Disclaimer: This calculator is for information and education only. It is not investment advice and not a recommendation or a tip, and it does not predict prices. Trading in shares and derivatives carries a risk of loss: futures and sold options are leveraged, and a loss on them can exceed the margin paid. Brokerage differs by broker, and brokerage, taxes and exchange charges change over time. SEBI’s studies found that 93% of individual traders in equity futures and options made losses between FY22 and FY24, and 87.7% did in FY26. Every figure is computed solely by applying the formula and assumptions stated on this page to the inputs you entered.