Options calculator
Options Expiration P/L Calculator
Estimate purchased call and put expiration P/L, intrinsic payoff and breakeven using standard 100-share contracts.
Educational use only. Not financial advice. Results are estimates. Trading involves risk. Read full disclaimer.
This is an expiration P/L calculator for purchased calls and puts, using intrinsic-value payoff and standard 100-share contracts. It ignores remaining time value and implied volatility and does not estimate what an option can be sold for before expiration. Fees, taxes, dividends and execution costs are excluded.
Options Expiration P/L Calculator
Results
Total Cost
$250.00
Intrinsic Value (per share)
$5.00
Expiration Payoff
$500.00
Profit/Loss
$+250.00
ROI
+100.00%
Breakeven Price
$102.50
Expiration estimate for purchased calls/puts with standard 100-share contracts. Ignores remaining time value, implied volatility, fees, taxes and execution costs; not a pre-expiration option valuation.
How to Use This Calculator
- Select option type: Choose whether you're buying a call or put option.
- Enter the strike price: The price at which you can exercise the option.
- Enter premium paid: The cost per share to buy the option (multiply by 100 for total per contract).
- Enter number of contracts: How many option contracts you're buying (default is 1).
- Enter expiration price: The underlying asset price at which you want to evaluate the option's value.
- Review results: See intrinsic value, total value, profit/loss, ROI, and breakeven price.
Formula
Cost = Premium Paid × 100 × Contracts
Call Intrinsic Value = Max(Expiration Price - Strike, 0)
Put Intrinsic Value = Max(Strike - Expiration Price, 0)
Value = Intrinsic Value × 100 × Contracts
Profit/Loss = Value - Cost
ROI = (Profit/Loss ÷ Cost) × 100
Call Breakeven = Strike + Premium Paid
Put Breakeven = Strike - Premium Paid
Common Mistakes to Avoid
- Ignoring time decay: This calculator shows intrinsic value, but options also have time value that decays. An option can lose value even if the underlying moves in your favor if time decay outpaces the intrinsic gain.
- Not accounting for commissions: Options commissions can add up, especially for multi-contract trades. Factor these into your profit calculations.
- Forgetting about assignment risk: If you sell options (not covered here), you face unlimited risk. This calculator is for buying options only.
- Setting unrealistic expiration prices: Don't assume the underlying will move to your target price. Options can expire worthless, resulting in 100% loss of premium.
Frequently Asked Questions
What is intrinsic value?
At expiration, call payoff per share is max(underlying - strike, 0); put payoff is max(strike - underlying, 0).
What contract size is assumed?
Standard 100-share contracts only. Adjusted contracts and other multipliers are not modeled.
What is expiration breakeven?
Call: strike plus premium paid per share. Put: strike minus premium. These are before costs and apply at expiration.
What if the option expires out of the money?
The modeled payoff is zero and the purchased option loses its entire premium. Exercise or assignment can create an underlying position with separate risks; that is not modeled.
Are multi-leg strategies supported?
No. This tool models one purchased call or put position, not a multi-leg strategy.
Does it model time decay or implied volatility?
No. These affect pre-expiration market value. This tool only uses expiration intrinsic payoff.
Can I model a sale before expiration?
No. Selling before expiration requires an option market price that may include time value. The entered price here is the underlying price at expiration, not an option sale price.
What is ROI here?
Modeled expiration P/L divided by premium cost. It excludes fees and taxes; when premium is zero the displayed percentage is not meaningful.