Option Expiry Payoff Calculator
Compare expiry profit, break-even and risk for long/short calls and puts.
Results
Review or adjust your inputs, then calculate to see your results and interpretation.
Understand this calculation
Calls benefit from rising prices and puts from falling prices. A short position reverses the equivalent long profit. Naked short-call loss is theoretically unlimited.
See calculation method and assumptions
Formula
Call expiry profit/loss
Put expiry profit/loss
One contract, excluding fees, taxes, financing and pre-expiry time value; underlying price is nonnegative. This is expiry profit, not a Black-Scholes price or a margin requirement.
Variables, rates and periods
- Sₜ / K / p
- Underlying expiry price / strike / premium per unit.
- M / ±
- One-contract multiplier; plus for long, minus for short.
Scope and assumptions
- One contract, excluding fees, taxes, financing and pre-expiry time value;
- underlying price is nonnegative.
- This is expiry profit, not a Black-Scholes price or a margin requirement.
Compare expiry profit, break-even and risk for long/short calls and puts.
Worked example
- Long call: strike 100, premium 5, multiplier 100, expiry price 120 gives profit 1,500 and break-even 105.
- Change inputs and calculate again to compare assumptions.
Frequently asked questions
Is the result guaranteed?
One contract, excluding fees, taxes, financing and pre-expiry time value; underlying price is nonnegative. This is expiry profit, not a Black-Scholes price or a margin requirement.
Does the example represent actual markets?
No. All examples are hypothetical and contain no live market data.