Option Strategy Payoff Calculator

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$25 one-time payment
Instant download

How It Works & Screenshots

Select option strategy in the dropdown box (see list of all 54 strategies included):

If you are analysing a specific trade, you can enter strikes, position sizes and initial prices in the yellow cells. If you don’t have specific prices in mind and just want to explore a new strategy, example strikes and prices will be loaded automatically.

You can also set a specific underlying price and see values and profit or loss for individual options and the entire position at that price:

In the top right corner you can see maximum profit, maximum loss and risk-reward ratio. This is very useful for evaluating potential trades. You can also see break-even points and profit or loss at each strike:

By default the chart shows aggregate profit or loss for the entire position. You can also display individual legs:

To explore a particular price area in more detail, you can easily adjust the chart’s scale by clicking on the buttons:

It’s very straightforward – yellow cells for user input, green cells for results. Detailed instructions are available in the user guide (in pdf), which you will also get.

Download Now

$25 one-time payment
Instant download

List of Option Strategies

The Basics

Long Stock
Short Stock
Long Call
Short Call
Long Put
Short Put
Covered Call
Protective Put

Straddles, Strangles, Guts

Long Straddle
Long Strangle
Long Guts
Short Straddle
Short Strangle
Short Guts

Butterflies and Condors

Long Call Butterfly
Long Put Butterfly
Long Iron Butterfly
Long Call Condor
Long Put Condor
Long Iron Condor
Short Call Butterfly
Short Put Butterfly
Short Iron Butterfly
Short Call Condor
Short Put Condor
Short Iron Condor

Vertical Spreads, Ladders, Ratio Spreads

Bull Call Spread
Bear Put Spread
Bear Call Spread
Bull Put Spread
Bull Call Ladder
Bull Put Ladder
Bear Call Ladder
Bear Put Ladder
Strip
Strap
Covered Short Straddle
Covered Short Strangle
Ratio Call Backspread
Ratio Put Backspread
Ratio Call Spread
Ratio Put Spread
Collar

Synthetics and Others

Synthetic Call
Synthetic Put
Synthetic Long Stock
Synthetic Short Stock
Synthetic Long Straddle w Calls
Synthetic Long Straddle w Puts
Synthetic Short Straddle w Calls
Synthetic Short Straddle w Puts
Long Combo
Short Combo
Long Box

If you want another strategy included, please contact us.

Download Now

$25 one-time payment
Instant download

Frequently Asked Questions

Is it a one-time payment or monthly/recurring?
One-time payment, yours forever.

Does it work in my version of Excel?
The calculator works in all versions of Excel from Excel 97 to Excel 2016. It was developed in Excel 2010 and tested in other versions. For older versions you may need to use a different version of the calculator, which is also included.

Does it work in OpenOffice / LibreOffice / Apple Numbers / other spreadsheet software?
It may work in some, but unfortunately we can’t guarantee it and can’t provide support for software other than Microsoft Excel. Generally you need your software to support Excel formulas and macros.

How do I pay? Is it secure?
You can pay by credit/debit card or PayPal. All payments are processed by PayPal, which provides world-class security and buyer protection. You don’t need a PayPal account to check out when paying with a card.

I have other questions / need more information.
Please contact us.

Download Now

$25 one-time payment
Instant download

Related Calculators – Often Bought Together

Option Strategy Simulator – Simulates option strategies not only at expiration, but at any time, including intraday. Works with volatility, Greeks and more advanced option concepts.


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