Options Payoff & Greeks Calculator
Draw the payoff diagram for a call or put (long or short), find breakeven, max profit and max loss, look up F&O lot sizes, and compute the Black-Scholes Greeks. Calculated in your browser.
How the payoff and Greeks are computed
The payoff at expiry per share is the option's intrinsic value minus the premium: a long call earns
max(spot − strike, 0) − premium, a long put max(strike − spot, 0) − premium, and
short positions mirror these. Breakeven for a long call is strike + premium and for a long put
strike − premium. The Greeks — delta, gamma, theta, vega and rho — use the Black-Scholes model
from spot, strike, days to expiry, implied volatility and the risk-free rate, and describe how the option's
value reacts to price, time, volatility and rates.
FAQ
How is an option's breakeven calculated?
For a long call, breakeven is the strike price plus the premium paid; for a long put, it is the strike minus the premium. Below (call) or above (put) that price the position is still at a loss at expiry.
What are the maximum profit and loss on an option?
For a long call the loss is limited to the premium and profit is theoretically unlimited; for a long put the maximum profit is (strike − premium) and loss is the premium. For short (sold) options the profit and loss are mirrored, with limited profit and large potential loss.
What are option Greeks?
The Greeks measure sensitivity: delta (to the underlying price), gamma (rate of change of delta), theta (time decay per day), vega (to a 1% change in volatility) and rho (to interest rates). This tool computes them with the Black-Scholes model from spot, strike, days to expiry, implied volatility and the risk-free rate.
What is a lot size in F&O?
Exchange derivatives trade in fixed lots, so one contract is a set number of shares (the lot size). Lot sizes are revised periodically by the exchange; use the lookup here as a guide and confirm the current lot size with your broker before trading.
For education only — not investment advice. Black-Scholes assumes European exercise and constant volatility, so Greeks are approximations. Lot sizes change; confirm the current lot size and margins with your broker.