Grizzly Bulls

Options Profit/Loss Calculator

Model the expiration payoff of a single long or short call or put from your own strike, premium, contract size, and stock-price assumptions.

Option assumptions

Used as a reference point for the scenario table. Expiration payoff itself depends on strike, premium, and the stock price at expiration.
Enter the premium paid for a long option or received for a short option.
100 is standard for most listed U.S. equity-option contracts; adjusted contracts can represent a different number of shares.

Expiration summary

100Shares represented
-$400Initial premium cash flow
$109.00Expiration breakeven stock price
UnlimitedMaximum expiration profit
$400Maximum expiration loss
$400Total premium magnitude

Expiration payoff scenarios

These rows show intrinsic value and option-position P&L at expiration. They do not estimate what the option may be worth before expiration, when time value and implied volatility still matter.

Stock at expirationIntrinsic value / shareTotal intrinsic valueExpiration P&L
$0.00$0.00$0-$400
$75.00$0.00$0-$400
$100.00$0.00$0-$400
$105.00$0.00$0-$400
$109.00$4.00$400$0
$131.25$26.25$2,625+$2,225

How the expiration math works

Call intrinsic value = max(stock price − strike, 0)
Put intrinsic value = max(strike − stock price, 0)
Long-option P&L = intrinsic value − premium paid
Short-option P&L = premium received − intrinsic value

Long calls have limited loss and theoretically unlimited upside. Long puts have limited loss and their maximum expiration profit occurs if the stock falls to zero. Short calls reverse the long-call payoff and therefore carry theoretically unlimited loss when uncovered. Short puts have limited premium income and substantial downside if the stock falls toward zero.

Where this calculator stops

This is single-leg expiration payoff math. It does not price options before expiration, estimate implied volatility or Greeks, calculate probability of profit, model expected return, recommend a strike or expiration, fetch an option chain, or decide whether an options trade is suitable.

It also does not model early exercise or assignment, dividends, interest rates, bid-ask spreads, commissions, taxes, margin requirements, collateral, exercise fees, or brokerage buying-power rules. Short-option risk can therefore be materially different from the cash premium shown here.

Use the Covered Call Calculator when the short call is paired with an equivalent stock position, or the Protective Put Calculator when a long put is paired with owned shares for downside protection.

Payoff references