Options profit calculator: payoff, break-even and greeks
Build a trade with up to four calls and puts: see the payoff at expiry and today, the break-even, the maximum profit and loss, and the greeks. Presets for NIFTY, BANKNIFTY and US stock options.
How to use it
- Pick the underlying: the lot size and a round strike near the spot are filled in. Change any number.
- Tick the legs you want: a bull call spread is buy one call and sell a higher call; a straddle is buy a call and a put at the same strike.
- Type the premiums from your broker, or press the button to fill them with the model value for your volatility.
- Read the gold line (profit at expiry) and the dashed line (value today) across prices 25 % below and above spot.
Worked example
NIFTY at 25,000, 7 days to expiry, IV 13 %. Buy the 25,000 call and sell the 25,100 call, one lot (65) each. With premiums of 180 and 135 the net debit is 45 × 65 = 2,925. The most you can lose is that debit; the most you can make is (100 − 45) × 65 = 3,575, when NIFTY expires at 25,100 or above. Break-even: 25,045.
ऑप्शन प्रॉफिट कैलकुलेटर (हिंदी)
NIFTY या BANKNIFTY ऑप्शन का मुनाफ़ा-नुकसान देखें: स्ट्राइक, प्रीमियम और लॉट डालें। कैलकुलेटर एक्सपायरी पर पे-ऑफ, ब्रेक-ईवन, अधिकतम लाभ और हानि, और ग्रीक्स (डेल्टा, थीटा, वेगा) दिखाता है। जनवरी 2026 से NIFTY लॉट 65 और BANKNIFTY लॉट 30 है।
Questions
How is option profit calculated at expiry?
For a bought call: (price at expiry − strike − premium) × quantity, and never less than minus the premium. For a bought put: (strike − price − premium) × quantity. A sold option is the mirror: you keep the premium and pay the intrinsic value.
What are the NIFTY and BANKNIFTY lot sizes?
From January 2026 the NSE lot is 65 for NIFTY and 30 for BANKNIFTY (FINNIFTY 60). Lot sizes change from time to time, so check the latest NSE circular; you can type any lot size here.
What do delta, gamma, theta and vega mean?
Delta: how much the position gains for a 1-point rise in the underlying. Gamma: how fast delta changes. Theta: what the position loses each day from time decay. Vega: what it gains for a 1-point rise in implied volatility.
Is the Black-Scholes value the real market price?
No. It is a model value from the volatility you enter. Market prices include supply and demand, and Indian index options are European style, so the model fits them better than American stock options.