Options Break-Even Calculator

Break-even price, max profit, and max loss for the four most common single-leg strategies: long call, long put, cash-secured put, and covered call. Enter strike, premium, contract count, and a current or projected spot price. For covered calls, specify your share cost basis separately from the current spot so the math reflects your actual entry price rather than the quote right now.

All results are at expiration and assume European-style intrinsic-value math (no time value at expiry). Commissions are not modeled — subtract your per-trade cost to translate to net P/L. For multi-leg structures (iron condor, butterfly, calendar, diagonal) and live Greeks across all legs, use the strategy builder.