# Options profit calculator

> Model a long call or long put at expiration. Enter the strike, premium, contract count and an underlying price to see payoff, profit or loss, breakeven and maximum risk—with the formula shown plainly.

- Canonical page: [https://caymanbot.com/options-profit-calculator](https://caymanbot.com/options-profit-calculator)
- Content type: tool
- Last reviewed: 2026-08-19
- Publisher: CaymanBot, LLC

## Quick answer

Model a long call or long put at expiration. Enter the strike, premium, contract count and an underlying price to see payoff, profit or loss, breakeven and maximum risk—with the formula shown plainly.

## Key points

- **Calls and puts:** Switch between long call and long put payoff without changing the rest of your inputs.
- **Transparent math:** See contract cost, intrinsic value, profit, breakeven and return at expiration.
- **Scenario table:** Compare several underlying prices around the strike instead of relying on one target.

## How the options profit calculation works

At expiration, a long call is worth the greater of zero or the underlying price minus the strike. A long put is worth the greater of zero or the strike minus the underlying price. Multiply that intrinsic value by 100 shares per standard equity-option contract and the number of contracts, then subtract the premium paid.

The calculator assumes the premium input is quoted per share, as equity options normally are. A premium of $2.50 therefore costs $250 for one standard contract before commissions and fees.

## Breakeven and maximum loss

A long call’s expiration breakeven is strike plus premium. A long put’s expiration breakeven is strike minus premium. The maximum loss for either long option is the premium paid, assuming the position is not exercised or managed in a way that creates additional underlying exposure.

Before expiration, option value also includes remaining time value and depends on implied volatility, rates and dividends. A contract can show a gain or loss different from this expiration-only model even when the underlying is at the same price.

- Long call profit: max(0, price − strike) − premium, multiplied by shares and contracts.
- Long put profit: max(0, strike − price) − premium, multiplied by shares and contracts.
- Standard multiplier: 100 shares per contract unless the contract is adjusted.
- Commissions, fees, slippage and assignment consequences are excluded.

## Use payoff scenarios, not a single forecast

A target price is not a probability. Compare several expiration values, note how much of the premium can be lost and decide whether the risk fits your plan. For positions that will be closed before expiration, an option-pricing model and volatility scenarios are more appropriate than intrinsic payoff alone.

This calculator checks arithmetic; it does not estimate the likelihood of a result or recommend a trade. Verify the contract multiplier and settlement rules for the specific option you are evaluating.

## Frequently asked questions

### How do I calculate profit on a call option?

At expiration, subtract the strike from the underlying price, floor the result at zero, subtract premium and multiply by the contract multiplier and number of contracts.

### What is the breakeven for a long put?

At expiration, the breakeven is the strike price minus the premium paid per share, excluding costs.

### Why can my live option P&L differ from this calculator?

Before expiration, the option can retain time value and respond to implied volatility, rates, dividends, liquidity and model inputs.

### Does every option contract represent 100 shares?

Most standard U.S. equity options use a 100-share multiplier, but adjusted contracts and some products can differ. Check the contract specification.

## Related CaymanBot resources

- [Options position size calculator](https://caymanbot.com/options-position-size-calculator)
- [Options expected move calculator](https://caymanbot.com/options-expected-move-calculator)
- [OCC options symbol decoder](https://caymanbot.com/occ-options-symbol-decoder)
- [Test an options idea before turning it into an alert](https://caymanbot.com/options-backtesting)

Market data, modeled analytics, calculators and public-filing summaries are informational. Verify time-sensitive data and original filings before making decisions.