Options calculators
with live payoff diagrams

Free options profit and loss calculator. Build any position up to four legs and see max profit, max loss, every breakeven and a live payoff diagram before you risk anything.

Free credit spread calculator for put and call credit spreads. Enter both strikes and premiums for net credit, max loss, breakeven and return on risk.

Free debit spread calculator for call and put debit spreads. Enter both strikes and premiums for net debit, max profit, breakeven and reward-to-risk.

Free long call calculator. Enter strike and premium to see your breakeven, maximum loss and unlimited upside on a live payoff diagram, before you buy.

Free bull call spread (debit spread) calculator. Enter both strikes and premiums to see max profit, max loss and breakeven on a live payoff diagram.

Free bull put spread (credit spread) calculator. Enter both strikes and premiums to see net credit, max loss, breakeven and return on risk.

Free cash-secured put calculator. See your premium yield, effective purchase price if assigned, breakeven and annualised return on the cash held.

Free long put calculator. Enter strike and premium to see breakeven, maximum loss and your profit as the underlying falls, on a live payoff diagram.

Free bear put spread (debit spread) calculator. Enter both strikes and premiums to see max profit, max loss and breakeven on a live payoff diagram.

Free bear call spread (credit spread) calculator. Enter both strikes and premiums to see net credit, max loss, breakeven and return on risk.

Free iron condor calculator. Enter your four strikes and premiums to see max profit, max loss, both breakevens and a live payoff diagram — the same P/L engine GreeksView's trading desk uses.

Free iron butterfly calculator. Enter your strikes and premiums to see net credit, max loss, both breakevens and a live payoff diagram.

Free butterfly spread calculator. Enter three strikes and premiums to see max profit at the body, both breakevens and your capped risk.

Free covered call calculator. Enter your cost basis, strike and premium to see static return, called-away return, breakeven and downside protection — with a live payoff diagram.

Free short straddle calculator. Enter the strike and both premiums to see total credit, both breakevens and the unlimited-risk profile.

Free short strangle calculator. Enter both strikes and premiums to see total credit, both breakevens, and the loss profile beyond them.

Free long straddle calculator. Enter the strike and both premiums to see how far the underlying must move in either direction to profit.

Free long strangle calculator. Enter both strikes and premiums to see how far the underlying must move in either direction to profit.

Free reverse iron condor calculator. Enter your strikes and premiums to see net debit, max profit, both breakevens and a live payoff diagram.

Free reverse iron butterfly calculator. Enter your strikes and premiums to see net debit, max profit, both breakevens and a live payoff diagram.

Free calendar spread calculator. Model what the back-month leg is still worth when the front expires, with max profit at the strike, your net debit and the volatility assumption made explicit.

Free diagonal spread calculator. Model the surviving back-month leg at front expiry across both strikes, with max profit, net debit and the volatility assumption made explicit.

Free collar calculator. Enter your cost basis, put and call strikes to see your protected floor, capped ceiling and whether the collar is a net credit or debit.

How to fetch a complete options chain from the Alpaca API: which host serves contracts versus snapshots, the response envelopes that silently break loops, and how to read bid, ask, IV and open interest once you have it.

Where delta, gamma, theta and vega live on an Alpaca options snapshot, what to do when the greeks block is missing, and how to solve implied volatility yourself without the numerical traps that produce a confident zero.

Compute dealer gamma exposure from an Alpaca options chain: the formula, the dealer sign convention, why the gamma flip level is a price and not a magnitude, and the unit choice that makes published GEX figures differ by 100x.

Use Alpaca paper trading to test options analytics and order flow for free: which host paper keys talk to, what behaves identically to live, and the differences that will mislead you if you assume paper fills are real fills.

Fetch historical options data from Alpaca: why expired contracts need status=inactive, where the history actually begins, how sparse bars break backtests, and how to price a straddle as it stood before a past earnings date.