Options
28 calculators in Options: all free, bilingual and computed locally in your browser, with results shareable via links.
Black-Scholes Calculator
Price European call and put options with the Black-Scholes model from spot, strike, time to expiry, volatility and risk-free rate.
Options Delta Calculator
Estimate the delta of European call/put options with Black-Scholes — the change in option price per 1 unit move in spot.
Options Gamma Calculator
Estimate the gamma of European options with Black-Scholes — how fast delta changes as spot moves.
Options Vega Calculator
Estimate the vega of European options with Black-Scholes — price change per 1% increase in implied volatility.
Options Theta Calculator
Estimate the daily time decay (theta) of European options with Black-Scholes to understand the cost of holding.
Options Breakeven Price Calculator
Find the expiry break-even price of a single call or put from strike and premium, for both buyers and sellers.
Covered Call Calculator
Estimate expiry PnL and break-even for holding spot and selling a covered call, from cost, premium, strike and expiry price.
Protective Put Calculator
Estimate expiry PnL, break-even and max loss of holding spot with a protective put, from cost, premium, strike and expiry price.
Options Expiry PnL Matrix
Pick call/put and buy/sell, enter strike and premium to see PnL across expiry prices within ±20% of the strike.
Bull Call Spread Calculator
Estimate expiry PnL, max profit/loss and break-even of a bull call spread from strikes, premiums and expiry price.
Bear Put Spread Calculator
Estimate expiry PnL, max profit/loss and break-even of a bear put spread from strikes, premiums and expiry price.
Bull Put Spread Calculator
Sell a higher-strike put and hedge with a lower-strike put; estimate expiry PnL, limits and break-even of the credit spread.
Bear Call Spread Calculator
Sell a lower-strike call and hedge with a higher-strike call; estimate expiry PnL, limits and break-even of the credit spread.
Straddle Calculator
Buy a call and put at the same strike; estimate expiry PnL, max loss and both break-evens from premiums and expiry price.
Iron Condor Calculator
Combine a bull put spread and a bear call spread; estimate expiry PnL and break-evens from four strikes, premiums and expiry price.
Strangle Calculator
Buy an OTM call and put at different strikes; estimate expiry PnL, max loss and both break-evens from premiums and expiry price.
Butterfly Calculator
Buy the K1/K3 wings and sell 2× the K2 call; estimate expiry PnL, limits and break-evens from strikes, premiums and expiry price.
Short Straddle Calculator
Sell an at-the-same-strike call and put: enter strike, premiums and expiry price to see the credit zone and P&L.
Short Strangle Calculator
Sell an out-of-the-money call and put pair: enter strikes, premiums and expiry price for the profit band and P&L.
Option Time Value Calculator
From call/put, spot, strike and premium, split intrinsic and time value with its share.
Premium Decay Calculator
From premium and days to expiry, estimate the approximate daily time-value loss (linear model).
Risk Reversal Calculator
Buy an OTM call while selling an OTM put: net cost and key expiry payoff levels.
Premium Yield Calculator
From premium per period and cycles per year, estimate simple and compounded annualized income.
Collar Strategy Calculator
Hold the asset while buying a put and selling a call: net cost, floor and cap levels.
Put-Call Parity Check Calculator
Check whether Call−Put ≈ spot−strike to spot synthetic-parity deviations (ignoring rates and dividends).
Options Implied Volatility Calculator
Back out the Black-Scholes implied volatility from spot, strike, days to expiry and premium (estimate).
Options Portfolio Net Greeks Calculator
Enter quantity and Greeks per leg to aggregate the portfolio net Delta, Gamma, Vega and Theta.
Options Probability of Profit Calculator
Derive premium and breakeven from IV, then estimate the expiry profit probability under a log-normal approximation.
Related guides
Options Basics Guide: Calls, Puts and Expiry Payoffs
What are calls and puts? How are premium, strike price, expiry P&L and break-even calculated? Learn the four basic shapes with single-leg options and two starter strategies.
Read guide →Multi-Leg Options Guide: Spreads, Straddles, Condors and Butterflies
Why is one leg not enough? What view do call spreads, straddles, iron condors and butterflies each express? How do you compute cost, max loss and both break-evens? Learn the payoff shapes.
Read guide →Options Greeks Guide: Reading Delta, Gamma, Vega and Theta
Why does an option “in the right direction” still not move? What do Delta, Gamma, Vega and Theta each measure? Use Black-Scholes and Greek calculators to break option risk into manageable numbers.
Read guide →