Options Strategy Payoff Visualizer
Combine calls, puts, and stock into any strategy and watch the payoff diagram update instantly — breakevens, max profit, and max loss calculated for you.
About this tool
This tool builds profit-and-loss diagrams for options and stock strategies at expiration. Add legs one at a time by choosing call, put, or stock, then set buy or sell, a strike price where relevant, a premium or cost basis, and a quantity in contracts or shares. Eleven built-in presets — covered call, iron condor, straddle, collar, and others — fill in a starting set of legs around your current price, which you can then edit freely. A chart range control lets the diagram auto-fit around your strikes or be set manually.
Every leg's payoff is a piecewise linear function of the underlying price at expiration, so the tool finds the exact kink points (the strikes) rather than sampling thousands of prices. It evaluates profit and loss at each strike, at zero, and along the slope beyond the highest strike to determine whether profit or loss is capped or open-ended, then linearly interpolates between adjacent kink points to locate breakeven prices precisely. The same breakpoints drive the canvas chart, which is filled and stroked directly from calculated values rather than an approximated curve.
The tool has no connection to any market data feed, so every premium is a number you type in rather than a live options quote — check a real chain if you want the diagram to reflect current pricing. It only models the outcome at a single expiration date and assumes all legs expire together, so it cannot show how a position's value changes day to day from time decay or shifts in implied volatility before expiration. It also leaves out commissions, margin requirements, assignment risk on American-style options, and taxes.