Tools · strategy calculator
See the strategy as a picture first
One payoff chart shows an options strategy's character — where it makes money, where it loses, and where it breaks even. Below are the expiration payoff shapes of the strategies I actually use.
Before I enter, I look at the breakeven first
The first number I check before placing an order is the breakeven — where the index has to finish for me to break even, and how far that is from the current price. Entering without it means not knowing whether the spot wins or loses. That's why every chart here marks the breakeven with a dot and a number.
👆 Tap a strategy's chart to open its calculator
Long call
🔒 Calculator · subscribersPays when price rises · risk is what you paid
Long put
🔒 Calculator · subscribersPays when price falls · risk is what you paid
Call credit spread
🔒 Calculator · subscribersKeeps the credit if price finishes below the short strike
Put credit spread
🔒 Calculator · subscribersKeeps the credit if price finishes above the short strike
Iron condor
🔒 Calculator · subscribersKeeps the credit if price finishes between the two short strikes
Butterfly
🔒 Calculator · subscribersGrows as price finishes closer to the center strike
Call backspread 1×2
🔒 Calculator · subscribersOpens up on a big rally; dips on a small one
Put backspread 1×2
🔒 Calculator · subscribersOpens up on a big drop; dips on a small one
Shapes for comparison — price 7,600, same-day expiration, one contract, estimated prices
What the calculator shows
- Two or three inputs — strikes, width, and the price you actually see
- Profit zones shaded green, loss zones shaded red
- Four numbers in plain words: max profit, max loss, breakeven, breakeven win rate
- Tap time left (same day · 1 day · 1 week · 1 month) to overlay today's P&L as a dashed line
※ This is an educational calculator for understanding option structures. It is not investment advice and not a recommendation to trade any security, strike, or strategy. Prices are model estimates and can differ from real quotes; options can lose the entire amount at risk in a short time.