Free Options P&L Calculator
Calculate the breakeven price, profit & loss scenarios, and Greeks for any options strategy. Load a ticker to see options chain data, or . Uses the Black-Scholes model with delayed market data. Learn how options work →
For educational purposes only · Not financial advice
What Is Options Breakeven?
The breakeven price is the exact stock price at which your options trade neither makes nor loses money at expiration. For a long call, breakeven equals the strike price plus the premium paid. For a long put, breakeven equals the strike price minus the premium paid. This calculator computes that figure instantly, along with a full P&L table across every stock price and date until expiry.
How to Use This Calculator
- Enter a ticker symbol (e.g., AAPL, SPY) to load live options chain data with real strikes and premiums, or switch to manual entry to type your own values.
- Select an expiration date and a strike price from the chain, or enter them manually.
- Review the P&L table — each cell shows your estimated profit or loss at a given stock price on a given date, calculated using the Black-Scholes model.
- Check the Greeks — Delta, Gamma, Theta, and Vega tell you how sensitive your position is to price moves, time, and volatility.
- Share your analysis — every configuration generates a shareable URL. Anyone with the link sees the same data instantly.
Supported Strategies
- Long Call / Long Put — directional bets with defined risk equal to the premium paid.
- Covered Call — generate income on shares you already own by selling an out-of-the-money call against them.
- Cash-Secured Put — sell a put while holding enough cash to buy the shares if assigned; a common way to get paid to wait for a dip.
- Vertical Spread — buy one strike and sell another to reduce premium cost and cap both risk and reward.
About the Data
Options chain data is sourced from Yahoo Finance and is delayed up to 15 minutes. All pricing and Greeks are calculated using the Black-Scholes-Merton model, the industry-standard mathematical framework for European-style option pricing. The risk-free rate is approximated using the US 10-year Treasury yield. Results are theoretical estimates and may differ from actual market prices.
For educational purposes only. Not financial advice. Options trading involves substantial risk of loss.
Learn More
New to options? Our blog covers the fundamentals in plain English: