Options Profit Calculator
Breakeven, max profit, max loss, and at-expiration P&L for any single-leg call or put — with annualized return for Wheel strategy sizing.
Breakeven at expiration
$445.50
Current underlying: $455.00 · +$450 In profit
Max profit
$450
1 contract
Max loss
$44,550
If expires worthless
Premium received
$450.00
$4.50 × 100 × 1
Annualized return
12.2%
Wheel strategy yield
At-expiration P&L chart
% change from strike · violet line = current underlying
Key levels
Position details
Used to estimate where you stand today
Used for annualized return
Wheel Strategy Context
The Wheel typically starts with a short cash-secured put at or below the current price. If assigned, you own the shares and sell covered calls above your cost basis until called away. Target annualized returns of 20–40% — use the stat above to compare strikes and expirations.
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