Straddle Calculator
A long straddle buys a call and a put at the same strike. Enter strike, both premiums and an expiry price to estimate PnL.
Results
Fill in the inputs and click Calculate.
- Expiry PnL
- –
- Max Loss
- –
- Lower Break-Even
- –
- Upper Break-Even
- –
Risk disclaimer
This calculator shows theoretical single-settlement PnL (USDT/contract) excluding fees. Closing before expiry can lose from time decay.
What view fits a long straddle?
It profits from a big move either way once expiry sits beyond the total premium; max loss is the premium paid.
PnL = |Expiry − Strike| − Total Premium, with break-evens on both sides.
How to use
- Enter the strike, call premium and put premium.
- Enter your expected expiry price.
- Click Calculate to see expiry PnL, max loss and both break-evens.
Formula
- Total Premium = Call + Put
- PnL = |Expiry − Strike| − Total Premium
- Lower BE = Strike − Total; Upper BE = Strike + Total
Example
Strike 100, call 4, put 3 (total 7): expiry 120 → PnL = 20−7 = 13; expiry 100 → −7.
Break-even band [93, 107]; you lose inside it.
FAQ
Time decay?
Long straddles pay two-way theta; volatility or the move must be large enough to offset it.
Per contract?
Yes, premiums and PnL are per contract and exclude fees.