Options Profit Calculator
Calculate the profit, loss, and breakeven for covered calls, long calls, long puts, cash-secured puts, and bull call spreads at expiration.
Strategy
Pay a premium for the right to purchase shares at the strike price before expiration. Profit when stock rises above breakeven.
Used to anchor the scenario table.
Enter the per-share cost (not total).
Each contract = 100 shares.
Enter the required fields above to see results.
How implied volatility affects your strategy
What is implied volatility?
Implied volatility (IV) is the market's expectation of how much a stock will move. Higher IV means higher premiums for both buyers and sellers. IV is not a direction forecast — it measures uncertainty, not trend.
High IV — premium sellers benefit
When IV is elevated, covered calls and cash-secured puts collect richer premiums for the same strike. Premium-selling strategies correspondingly earn more — but they also carry the same directional risk. High IV often precedes earnings or major events.
Low IV — option buyers pay less
When IV is compressed, long calls and puts are relatively cheaper to purchase. Buying options during low-IV periods reduces the premium at risk — though the stock still needs to move for the position to become profitable before expiration.
Find stocks with options potential
Equity Rank screens 800+ stocks across 15 valuation models. The options screener surfaces stocks where current pricing may correspond to potential undervaluation — helping you focus your research on the most relevant opportunities.
Related options & derivatives tools
Options pricing depends on the underlying — anchor every trade with a valuation read on the stock itself before choosing a structure.
Learn more about how Equity Rank weights these models in the methodology or browse the full free tool directory. Still have questions? See the FAQ.
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Research and educational purposes only. Not investment advice.
Frequently asked questions
Common questions about options profit calculation and strategy mechanics.
This tool is for research and educational purposes only. It does not constitute financial advice. All P&L figures are theoretical estimates at expiration and do not account for early assignment, dividends, transaction costs, or taxes. Options trading involves substantial risk of loss. Equity Rank is not a registered investment adviser. Consult a qualified financial professional before making investment decisions.