Measure option breakeven for calls, puts, and premiums. Review payoff, risk, and target outcomes instantly. Make clearer trading decisions with better timing and discipline.
Use the fields below to estimate breakeven price, target payoff, downside risk, and reward structure for a long call or long put position.
These examples show how breakeven changes with option type, premium cost, contract count, and target price assumptions.
| Option Type | Strike | Premium | Current Price | Target Price | Contracts | Fees | Break-even | Net P/L at Target |
|---|---|---|---|---|---|---|---|---|
| Call | $50.00 | $3.00 | $48.00 | $58.00 | 1 | $2.00 | $53.02 | +$498.00 |
| Put | $90.00 | $4.50 | $95.00 | $80.00 | 1 | $3.00 | $85.47 | +$547.00 |
| Call | $120.00 | $7.00 | $118.00 | $125.00 | 2 | $4.00 | $127.02 | -$404.00 |
Break-even = Strike Price + Premium per Share + Fees per Share
A long call starts making money only when the underlying closes above this level. Fees per share are total fees divided by total shares controlled.
Break-even = Strike Price - Premium per Share - Fees per Share
A long put starts making money only when the underlying closes below this level. Lower underlying prices increase put intrinsic value.
Premium Outlay = Premium per Share × Contract Size × Number of Contracts
This is the direct cost of buying the option position before fees.
Call Intrinsic = max(0, Target Price - Strike Price)
Put Intrinsic = max(0, Strike Price - Target Price)
Only in-the-money amounts count toward intrinsic value at expiration.
Net P/L = Gross Option Value at Target - Premium Outlay - Total Fees
A positive figure means profit. A negative figure means the trade still loses money at the chosen target.
ROI = Net P/L ÷ Capital at Risk × 100
Capital at risk equals premium outlay plus fees. This shows outcome efficiency, not probability of success.
Breakeven is the underlying price where your option value offsets the premium and fees paid. Above that level for calls, or below it for puts, the position begins generating profit at expiration.
Fees reduce your net outcome. Even small charges slightly raise call breakeven or lower put breakeven. Including them gives a more realistic trading result.
Yes. This version is designed for purchased call and put contracts. Short options, spreads, and multi-leg structures require different payoff logic and risk limits.
Contract size is the number of underlying shares controlled by one option contract. Standard U.S. equity options usually represent 100 shares, though adjusted contracts can differ.
No. Breakeven is the threshold where profit starts. Target price is your own market expectation at exit or expiration, used to estimate intrinsic value and net profit or loss.
A long call can theoretically gain without a fixed ceiling because the underlying may keep rising. A long put has limited upside because the underlying cannot drop below zero.
Because intrinsic value alone may not exceed the premium and fees you paid. The option can be in the money and still remain below breakeven, producing a net loss.
No. Breakeven is useful, but decisions should also consider volatility, time decay, liquidity, position sizing, probability, and your exit plan before entering any trade.
Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.