Option Profit & Loss Calculator
Payoff at expiry for a bought or written call or put, with the break-even price.
Call or put.
Option strike.
Premium per unit.
Total units.
Settlement price you want to test.
Quick examples
Buying a call at strike ₹24000 for ₹150, underlying at ₹24300.
What each result means
P&L at expiry
What it is: (Intrinsic value − premium) × quantity.
Your value: ₹11,250
Before charges and taxes.
Break-even at expiry
What it is: Strike + premium (call) or strike − premium (put).
Your value: ₹24,150.00
Maximum loss
What it is: Premium × quantity.
Your value: ₹11,250
An option buyer cannot lose more than the premium.
Year-by-year breakdown
| Underlying at expiry (₹) | Intrinsic value (₹) | P&L per unit (₹) | Total P&L (₹) | Status |
|---|---|---|---|---|
| 23280 | ₹0.00 | −₹150.00 | −₹11,250 | Max loss |
| 23520 | ₹0.00 | −₹150.00 | −₹11,250 | Max loss |
| 23760 | ₹0.00 | −₹150.00 | −₹11,250 | Max loss |
How to read this: each row is one possible settlement price at expiry. Before expiry, option prices also depend on time and volatility, which this page does not model.
Showing the first 3 of 8 years. Want charts, formulas and the full schedule? Get the detailed PDF.
What this calculator does
This calculator shows the profit or loss at expiry for someone who buys a call or put option, across a range of settlement prices.
What your result means
It shows expiry payoffs only. SEBI studies have found most individual F&O traders lose money; this page does not suggest any trade.
Formula
1. Payoff at expiry (buyer)
Symbols
- S
- Underlying at expiry
- K
- Strike
Worked example
Call, K 24,000, premium 150, S 24,300: (300 − 150) × 75 = ₹11,250.
Working for your numbers
- Intrinsic value = max(24300 − 24000, 0) = ₹300.00
- P&L per unit = ₹300.00 − ₹150.00 = ₹150.00
- Total = × 75 = ₹11,250
Frequently asked questions
What about selling (writing) options?
The seller's P&L is the mirror image, and losses can be much larger than the premium received. This page covers buyers only.
Does SEBI warn about F&O risk?
Yes. SEBI's studies show a large majority of individual F&O traders make net losses.
When should I talk to a professional instead?
Before a real decision, especially a large or long-term one, speak to a SEBI-registered investment adviser or a qualified professional. This page is educational only.
Symbols and assumptions
- K
- Strike
- S
- Underlying at expiry
- Q
- Quantity
- Held to expiry and cash-settled at S.
- Charges, STT and taxes not included.
Sources and review
Reviewed 2026-09-29 · Next review 2027-09-29
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How it works
At expiry a call is worth whatever the underlying is above the strike, and a put whatever it is below. The buyer's result is that intrinsic value minus the premium paid; the writer's result is the premium received minus the intrinsic value.
The formula
Call payoff = max(Spot − Strike, 0) − Premium · Put payoff = max(Strike − Spot, 0) − Premium- Strike
- Strike price of the option
- Premium
- Price per unit paid or received
- Spot
- Price of the underlying at expiry
- Quantity
- Lots × lot size
Worked example
A 24,500 call bought at ₹120 with a 75 lot size breaks even at 24,620 and gains ₹13,500 if expiry is 24,800.
Pro tips
- Break-even is the strike plus the premium for a call, and minus it for a put.
- Before expiry the option also carries time value, so the live price will differ from this payoff.
Common mistakes
- Forgetting that a bought option can expire worthless and lose the entire premium.
- Writing options without accounting for the margin blocked and the open-ended loss.
Go deeper
Concepts to explore
Related guides
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.