Key metrics
- Shares 100
- Breakeven price 97.00
- Breakeven incl. fees 97.00
- Max profit per share 8.00
- Max profit total 800.00
- Max loss per share 97.00
- Theoretical max loss total -9,700.00
- Strike cap 105.00
P/L excludes dividends and taxes. Max loss assumes stock can go to zero. Breakeven includes premium and optional fees if provided.
Payoff chart (Total P/L)
Payoff table
| Expiration price | P/L per share | Total P/L |
|---|---|---|
| 50.00 | -47.0000 | -4,700.00 |
| 51.00 | -46.0000 | -4,600.00 |
| 52.00 | -45.0000 | -4,500.00 |
| 53.00 | -44.0000 | -4,400.00 |
| 54.00 | -43.0000 | -4,300.00 |
| 55.00 | -42.0000 | -4,200.00 |
| 56.00 | -41.0000 | -4,100.00 |
| 57.00 | -40.0000 | -4,000.00 |
| 58.00 | -39.0000 | -3,900.00 |
| 59.00 | -38.0000 | -3,800.00 |
| 60.00 | -37.0000 | -3,700.00 |
| 61.00 | -36.0000 | -3,600.00 |
| 62.00 | -35.0000 | -3,500.00 |
| 63.00 | -34.0000 | -3,400.00 |
| 64.00 | -33.0000 | -3,300.00 |
| 65.00 | -32.0000 | -3,200.00 |
| 66.00 | -31.0000 | -3,100.00 |
| 67.00 | -30.0000 | -3,000.00 |
| 68.00 | -29.0000 | -2,900.00 |
| 69.00 | -28.0000 | -2,800.00 |
| 70.00 | -27.0000 | -2,700.00 |
| 71.00 | -26.0000 | -2,600.00 |
| 72.00 | -25.0000 | -2,500.00 |
| 73.00 | -24.0000 | -2,400.00 |
| 74.00 | -23.0000 | -2,300.00 |
| 75.00 | -22.0000 | -2,200.00 |
| 76.00 | -21.0000 | -2,100.00 |
| 77.00 | -20.0000 | -2,000.00 |
| 78.00 | -19.0000 | -1,900.00 |
| 79.00 | -18.0000 | -1,800.00 |
| 80.00 | -17.0000 | -1,700.00 |
| 81.00 | -16.0000 | -1,600.00 |
| 82.00 | -15.0000 | -1,500.00 |
| 83.00 | -14.0000 | -1,400.00 |
| 84.00 | -13.0000 | -1,300.00 |
| 85.00 | -12.0000 | -1,200.00 |
| 86.00 | -11.0000 | -1,100.00 |
| 87.00 | -10.0000 | -1,000.00 |
| 88.00 | -9.0000 | -900.00 |
| 89.00 | -8.0000 | -800.00 |
| 90.00 | -7.0000 | -700.00 |
| 91.00 | -6.0000 | -600.00 |
| 92.00 | -5.0000 | -500.00 |
| 93.00 | -4.0000 | -400.00 |
| 94.00 | -3.0000 | -300.00 |
| 95.00 | -2.0000 | -200.00 |
| 96.00 | -1.0000 | -100.00 |
| 97.00 | 0.0000 | 0.00 |
| 98.00 | 1.0000 | 100.00 |
| 99.00 | 2.0000 | 200.00 |
| 100.00 | 3.0000 | 300.00 |
| 101.00 | 4.0000 | 400.00 |
| 102.00 | 5.0000 | 500.00 |
| 103.00 | 6.0000 | 600.00 |
| 104.00 | 7.0000 | 700.00 |
| 105.00 | 8.0000 | 800.00 |
| 106.00 | 8.0000 | 800.00 |
| 107.00 | 8.0000 | 800.00 |
| 108.00 | 8.0000 | 800.00 |
| 109.00 | 8.0000 | 800.00 |
| 110.00 | 8.0000 | 800.00 |
| 111.00 | 8.0000 | 800.00 |
| 112.00 | 8.0000 | 800.00 |
| 113.00 | 8.0000 | 800.00 |
| 114.00 | 8.0000 | 800.00 |
| 115.00 | 8.0000 | 800.00 |
| 116.00 | 8.0000 | 800.00 |
| 117.00 | 8.0000 | 800.00 |
| 118.00 | 8.0000 | 800.00 |
| 119.00 | 8.0000 | 800.00 |
| 120.00 | 8.0000 | 800.00 |
| 121.00 | 8.0000 | 800.00 |
| 122.00 | 8.0000 | 800.00 |
| 123.00 | 8.0000 | 800.00 |
| 124.00 | 8.0000 | 800.00 |
| 125.00 | 8.0000 | 800.00 |
| 126.00 | 8.0000 | 800.00 |
| 127.00 | 8.0000 | 800.00 |
| 128.00 | 8.0000 | 800.00 |
| 129.00 | 8.0000 | 800.00 |
| 130.00 | 8.0000 | 800.00 |
| 131.00 | 8.0000 | 800.00 |
| 132.00 | 8.0000 | 800.00 |
| 133.00 | 8.0000 | 800.00 |
| 134.00 | 8.0000 | 800.00 |
| 135.00 | 8.0000 | 800.00 |
| 136.00 | 8.0000 | 800.00 |
| 137.00 | 8.0000 | 800.00 |
| 138.00 | 8.0000 | 800.00 |
| 139.00 | 8.0000 | 800.00 |
| 140.00 | 8.0000 | 800.00 |
| 141.00 | 8.0000 | 800.00 |
| 142.00 | 8.0000 | 800.00 |
| 143.00 | 8.0000 | 800.00 |
| 144.00 | 8.0000 | 800.00 |
| 145.00 | 8.0000 | 800.00 |
| 146.00 | 8.0000 | 800.00 |
| 147.00 | 8.0000 | 800.00 |
| 148.00 | 8.0000 | 800.00 |
| 149.00 | 8.0000 | 800.00 |
| 150.00 | 8.0000 | 800.00 |
Frequently asked questions
What is a covered call strategy
A covered call pairs long shares with a short call option written on the same shares. The premium collected provides income while upside becomes capped above the strike.
How is breakeven calculated
Breakeven equals entry price minus premium received per share. If you include fees the breakeven shifts upward by total fees divided by total shares.
What is the maximum profit
Maximum profit occurs when the stock finishes at or above the strike. It equals strike minus entry plus premium multiplied by shares then minus any fees.
What is the maximum loss
The theoretical maximum loss happens if the stock price falls to zero. The loss equals entry price minus premium minus fees distributed across shares.
Why is upside capped
Above the strike the short call gains intrinsic value one for one with the stock. The call offsets further stock gains which caps profit at a fixed level.
How do assignments affect results
If assigned at expiration shares are sold at the strike. Profit equals capped profit less fees. Early assignment risk exists around ex dividend dates and deep in the money positions.
Can I model different contract sizes
Yes. Adjust shares per contract if your market uses a size other than one hundred. The calculator scales all totals using contracts times shares per contract.
How do I export or share my results
Use the Download CSV button to export the payoff table. Use Copy shareable link to copy a URL with your inputs encoded so you can revisit the same scenario.