Options Profit Calculator — P&L and Payoff Chart

It charts P&L and payoff for a named book of listed contracts — covered calls, cash-secured puts, condors, calendars, and the rest of the Strategies catalog. It is not a single-contract pricer: share quantity, every flag, and every expiration in the book go into one curve.

The payoff chart values the whole book at the nearest expiration still in the strategy, using live mid quotes. At that date, front-month legs go to intrinsic; remaining legs keep Black-Scholes time value from each contract’s live implied volatility. Net debit or credit is option premium; share P&L uses the equity fill.

Yes. Open Strategies and pick either structure. A covered call includes 100 shares via the share-quantity control (not a strike flag) plus a short call. A cash-secured put is a short put with cash set aside at strike × 100. Both land the short on the expected-move IV band, or about 20 delta if IV is missing, and the chart shows the payoff at the nearest expiration.

Yes. Iron condors, calendars, diagonals, jade lizards, and the rest of the catalog are multi-leg books. Calendars and diagonals keep a listed-expiration gap when you walk the date bar. Single-date books re-seed strikes for the new DTE until you place them yourself, then the date bar only moves dates.

The chart values every leg at the nearest expiration in the strategy. The front-month option is marked to intrinsic; remaining legs keep Black-Scholes time value using each contract’s live implied volatility.

Open Strategies to load a named book from listed contracts. Credit structures (iron condor, covered call, cash-secured put, credit verticals) park shorts on the expected-move IV band, or about 20 delta if IV is missing. Debit verticals, calendars, and butterflies stay ATM plus listed steps. 20Δ and Smart Range (IV expected move, 1σ, gamma walls, confluence) re-seed the live named book without changing its geometry.