Options Profit Calculator
Work out what a call or put is actually worth at expiry before you take the trade. Enter the strike, premium and lot size to see profit and loss across the range of spot prices, your breakeven point, and the maximum you can make or lose.
Free to use — no sign up required
Also searched as: Nifty options profit calculator, Bank Nifty option calculator, call and put P&L calculator, option breakeven calculator, options payoff chart
How to use this options profit calculator
- Choose call (CE) or put (PE) — a call profits when the index rises, a put when it falls.
- Choose buy or sell. This inverts the payoff completely, so check it carefully.
- Enter the strike price of the contract.
- Enter the premium you paid or received per unit, not the total.
- Pick the instrument for the correct lot size, and set the number of lots.
- Enter a spot price at expiry to see the P&L at that level.
The payoff chart plots profit and loss across a range of spot prices, with the dashed line marking breakeven.
Worked example: Nifty 25,000 CE
You buy one lot of the 25,000 call at ₹150 premium. Nifty's lot size is 65, so the premium outlay is 150 × 65 = ₹9,750, and that is the most you can lose.
| Nifty at expiry | Option value | P&L per unit | Total P&L |
|---|---|---|---|
| 24,800 | ₹0 | −₹150 | −₹9,750 |
| 25,000 | ₹0 | −₹150 | −₹9,750 |
| 25,100 | ₹100 | −₹50 | −₹3,250 |
| 25,150 | ₹150 | ₹0 | ₹0 (breakeven) |
| 25,400 | ₹400 | +₹250 | +₹16,250 |
Note the row at 25,100. The call finished in the money and the trade still lost ₹3,250, because the premium was never recovered. Finishing in the money and making money are different things — this is where most first-year option buyers are surprised.
How options P&L at expiry is calculated
Call value at expiry = max(0, Spot − Strike) Put value at expiry = max(0, Strike − Spot) P&L (buyer) = (Value at expiry − Premium paid) × Lot size × LotsAt expiry there is no time value left, so an option is worth only its intrinsic value. That is what makes expiry the one point you can compute exactly — everything before it depends on implied volatility and time remaining, which are assumptions rather than facts.
Breakeven
For a call it is strike + premium; for a put, strike − premium. A 25,000 CE bought at ₹150 needs spot above 25,150 at expiry just to return the premium. Finishing in the money is not the same as making money, which is where most first-year option buyers lose.
Buying versus selling
| Position | Max profit | Max loss |
|---|---|---|
| Buy call | Unlimited | Premium paid |
| Buy put | Strike − premium | Premium paid |
| Sell call | Premium received | Unlimited |
| Sell put | Premium received | Strike − premium |
Sellers win more often — most options expire worthless — but the payoff is inverted: many small gains against occasional large losses. Buyers get the opposite. Neither is safer by default; they simply fail differently, and the failure mode is what your position sizing has to survive.
What this does not include
Brokerage, STT and GST are excluded here — use the brokerage calculator with the options segment for the exact round-trip cost. STT on options is charged on the sell side of the premium, not the contract value, which is the most common hand -calculation error. Early assignment and expiry-day settlement quirks are also not modelled.
Frequently asked questions
At expiry an option is worth only its intrinsic value. A call is worth spot minus strike (or zero, whichever is higher); a put is worth strike minus spot (or zero). Your P&L is that value minus the premium you paid, multiplied by the lot size — or the reverse if you sold the option.
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