Options Profit Calculator
Calculate call and put option profit/loss, breakeven price, and ROI for Nifty, Bank Nifty, and stock options — with a clear payoff chart across a range of expiry prices.
The calculators on this site are for informational and educational purposes only and do not constitute investment advice. TradeCalc is not a SEBI-registered investment advisor. Please consult a qualified financial advisor before making investment decisions.
P&L at ₹24,300
+₹9,800
ROI on premium paid: +100.0%
Breakeven price
₹24,150
Spot price at expiry where P&L crosses zero.
Maximum loss
-₹9,800
Maximum profit
Unlimited
Premium paid (total, lot size × lots × premium)
₹9,800
All calculations run entirely in your browser — nothing you enter here is sent to a server or stored anywhere.
How options profit & loss actually works
Intrinsic value drives everything
At expiry, an option is worth exactly its intrinsic value — how far the spot price has moved past the strike, in the direction that favors the option. A call is worth max(0, spot − strike); a put is worth max(0, strike − spot). Everything else on this page — P&L, breakeven, max profit/loss — is derived from that one formula plus whatever premium changed hands upfront.
Why buyer and seller payoffs mirror each other
Every option contract has exactly two sides. The buyer pays a premium upfront for the right (not the obligation) to exercise; the seller collects that premium and takes on the obligation to honor it. Whatever intrinsic value the option has at expiry, the buyer gains it and the seller pays it — so the seller's P&L curve is always the buyer's curve flipped upside down around the premium.
What breakeven means
Breakeven is the spot price at expiry where P&L is exactly zero — the point where intrinsic value exactly offsets the premium paid or received. For a call, that's strike + premium; for a put, it's strike − premium. A buyer needs the spot to move past breakeven (up for a call, down for a put) to turn a profit; a seller wants the spot to stay on the other side of it.
Why max loss/profit differ between calls and puts
A call's underlying has no price ceiling, so a call buyer's maximum profit — and a call seller's maximum loss — is genuinely unlimited. A put's underlying can't fall below zero, so a put buyer's maximum profit and a put seller's maximum loss are large but finite, capped at the strike price's full notional value. Buying either option always caps your own maximum loss at the premium paid, which is precisely why buying options is sometimes described as "defined risk."
Frequently asked questions
How is profit calculated on a call option?
For a call buyer, profit at expiry equals max(0, spot price − strike price) × lot size, minus the premium paid. The max(0, ...) reflects that a call is only worth exercising when the spot price is above the strike — below the strike, it simply expires worthless and the buyer's loss is capped at the premium paid. A call seller (writer) has the exact mirror position: premium received, minus max(0, spot − strike) × lot size — their profit is capped at the premium, but their loss grows without limit as the spot price rises.
What is the breakeven price for a put option?
For a put option (buyer or seller), the breakeven price at expiry is strike price minus premium. Below that spot price, a put buyer is in profit (and a put writer is in loss); above it, the reverse is true. This is the mirror image of a call's breakeven, which is strike price plus premium — because a put pays off when the spot falls below the strike, not above it.
What's the maximum loss when buying vs selling an option?
Buying an option (call or put) caps your maximum loss at the premium paid — once paid, you can never lose more, regardless of how far the spot price moves against you. Selling (writing) an option is the opposite: a call writer's maximum loss is theoretically unlimited, since the underlying's price has no upper bound. A put writer's maximum loss is large but finite — capped at (strike price × lot size) minus the premium received, since the underlying's spot price can't fall below zero.
Why do a buyer's and seller's payoffs mirror each other?
Options are a zero-sum contract between exactly two parties: whatever the buyer gains at expiry, the seller loses, and vice versa (before accounting for brokerage and other charges, which this calculator doesn't include). That's why every formula on this page for a seller is simply the buyer's formula with the sign flipped — same intrinsic value, same breakeven price, opposite P&L.
Does this calculator account for margin or brokerage?
No — this page only computes the option's intrinsic-value profit/loss, breakeven, and ROI on premium (for buyers). It doesn't include brokerage, STT, or other transaction charges, and it doesn't estimate the margin a seller/writer must post with their broker. For margin, and for ROI on margin (relevant to option sellers, since their capital at risk is the margin posted, not the premium received), use the F&O Margin Calculator.
What does the payoff chart actually show?
The payoff chart plots your position's total profit/loss across a range of possible spot prices at expiry, holding the strike and premium fixed. It's a straight-line (piecewise-linear) shape with exactly one bend, at the strike price — flat on one side (where the option expires worthless) and sloped on the other (where it has intrinsic value). The dashed blue line marks your breakeven price, where the chart crosses zero.
Next steps: margin, brokerage, and comparing brokers
This page shows hypothetical P&L only — it doesn't estimate the margin a seller/writer needs to post, or the brokerage and other charges a trade actually incurs. Use the F&O Margin Calculator for margin and ROI-on-margin (relevant to sellers), or the Brokerage Calculator to compare trading charges across brokers. Trading more than one leg? The Option Strategy Builder combines up to 4 legs into one payoff chart. See each broker's own F&O charges before choosing where to trade:
Learn more: How to Calculate F&O Margin — SPAN, exposure margin & netting explained.