Live quotes & chain
Pull last price and option premiums. Tap a contract to fill a leg for accurate mid-based P/L.
Option calculator
Free options P/L calculator for long calls, puts, credit spreads, iron condors, straddles, calendars, diagonals, and custom multi-leg trades. See max profit, max loss, breakevens, and a date × price heatmap before you trade.
Choose an options strategy calculator
All options strategy calculators
Dedicated pages for each strategy — open a guide or jump into the interactive calculator.
Basic
- Long Call calculator — Buy a call when you are strongly bullish. Limited risk (premium), unlimited upside.
- Long Put calculator — Buy a put when you are strongly bearish. Limited risk (premium), large downside profit.
- Covered Call calculator — Own stock and sell a call against it (buy-write). Income with capped upside.
- Cash Secured Put calculator — Sell a put and hold cash to buy shares if assigned. Income / acquire stock lower.
- Naked Call calculator — Sell a call without stock. Premium income with theoretically unlimited risk.
- Naked Put calculator — Sell a put. Premium income; risk if stock falls sharply.
Spreads
- Bull Call Spread calculator — Buy lower-strike call, sell higher-strike call. Defined risk bullish debit spread.
- Bear Put Spread calculator — Buy higher-strike put, sell lower-strike put. Defined risk bearish debit spread.
- Bull Put Credit Spread calculator — Sell higher-strike put, buy lower-strike put for a credit. Bullish / neutral.
- Bear Call Credit Spread calculator — Sell lower-strike call, buy higher-strike call for a credit. Bearish / neutral.
- Call Ratio Back Spread calculator — Sell 1 call, buy 2 higher-strike calls. Profits from a strong rally.
- Put Ratio Back Spread calculator — Sell 1 put, buy 2 lower-strike puts. Profits from a sharp drop.
- Call Calendar Spread calculator — Sell near-term call, buy longer-dated call same strike. Profits if price stays near strike into front expiry.
- Put Calendar Spread calculator — Sell near-term put, buy longer-dated put same strike. Neutral / pin risk at front expiry.
- Call Diagonal Spread calculator — Sell near-term higher strike call, buy longer-dated lower strike call. Bullish calendar variant.
- Put Diagonal Spread calculator — Sell near-term lower strike put, buy longer-dated higher strike put. Bearish diagonal.
Advanced
- Iron Condor calculator — Short put + long put + short call + long call. Profit plateau if price stays in range.
- Iron Butterfly calculator — Short ATM straddle + long OTM wings. Max profit if stock pins the body strike.
- Call Butterfly calculator — Buy 1 low, sell 2 middle, buy 1 high call. Limited risk, profits near body strike.
- Collar calculator — Long stock + long put + short call. Protective, capped upside (often near zero cost).
- Long Straddle calculator — Buy ATM call and put. Profits from a large move either way.
- Short Straddle calculator — Sell ATM call and put. Profits if price stays near strike; high risk.
- Long Strangle calculator — Buy OTM call and OTM put. Cheaper volatility bet than a straddle.
- Short Strangle calculator — Sell OTM call and OTM put. Credit if price stays between strikes.
- Covered Strangle calculator — Long stock + short OTM call + short OTM put. Bullish income, elevated downside risk.
- Synthetic Long Stock calculator — Long call + short put same strike. Mimics long stock with lower capital.
Custom
- Custom 2 Legs calculator — Build any two-leg strategy freely.
- Custom 3 Legs calculator — Three-leg custom position (e.g. butterfly, ratio).
- Custom 4 Legs calculator — Four-leg custom (iron condor, iron fly, etc.).
- Custom 6 Legs calculator — Complex six-leg custom strategy.
- Custom 8 Legs calculator — Maximum flexibility — up to eight option legs.
Multi-expiry heatmaps
Per-leg DTE for calendars and diagonals. Graph or numerical table from now until expiration.
Save & share
Store setups in your browser or copy a link that restores the full multi-leg trade.
Unusual options activity
Scan liquid tickers for high volume, elevated vol/OI, and premium flow — then model P/L in the calculator.
FTD Detector
William O’Neil Follow-Through Day signals on major indexes — cron-updated snapshot, educational market timing.
Learn options trading
Free guides on how options work — calls, puts, Greeks, IV, payoffs — plus a lesson for every strategy with risk/reward and a link to the calculator.
Foundations
- What are options? — contracts, premium, and why traders use options
- Calls and puts explained — long vs short on each side
- Moneyness & time decay — ITM/ATM/OTM and theta
- Option Greeks — delta, gamma, theta, vega
- Implied volatility — IV rank, crush, strategy tilt
- Payoffs & breakevens — how to read P/L charts
- Debit vs credit spreads — defined-risk verticals
- Exercise & assignment — early exercise and pin risk
- Risk management basics — sizing and defined risk
Popular strategy lessons
How to use this options profit calculator
- Pick a strategy (for example Long Call or Iron Condor).
- Enter a ticker, get a quote, and load contracts from the option chain.
- Review max profit, max loss, breakevens, and the date × price heatmap or table.
- Toggle $ / % of risk and expand the chart for a larger view.
- Optional: read the matching strategy lesson before you size a trade.
Educational use only — not financial advice. Options trading involves substantial risk of loss.