Educational worksheet
Options expiry-payoff calculator
Combine up to four hypothetical call/put legs and compare expiry scenarios.
All legs use the same underlying, expiry and units per lot. This is expiry price P&L, not a pre-expiry valuation, live quote, Greek model or margin estimate. Physical delivery, exercise costs, taxes and futures devolvement are not modeled. Negative underlying prices are outside the model.
Formula and method
Add signed (intrinsic payoff − premium) × lots × units for every leg, then subtract total entered costs. Call intrinsic = max(S − K, 0); put intrinsic = max(K − S, 0).
Worked example
Buy a call at 100 for 8 and sell a call at 110 for 3, 50 units each. Net debit ₹250. Expiry P&L ranges from −₹250 to +₹250 before costs.
Understand the calculation
Read: Vertical spreads and payoff boundaries →
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Inputs stay in this tab and are not sent to the server. Hypothetical arithmetic, not an order recommendation or a guaranteed loss limit.