Listed options - mechanics, payoffs, and conventions

Payoff calculator

Expiration payoff for any combination of legs. Every input is encoded in the URL, so a completed position is a link.

Position

Side	Type	Qty	Strike	Price

Spot / entry

Multiplier

Chart range %

Result

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URL parameters

The legs parameter is a comma-separated list. Each leg is [+|-]qty[c|p|s]strike@price. Stock legs use s and take no strike. Everything is computed client side; nothing is sent anywhere.

Parameter	Meaning	Example
`legs`	Position definition	`[email protected],[email protected]`
`spot`	Current or entry underlying price	`100`
`mult`	Contract multiplier	`100`
`range`	Chart width as percent either side of spot	`30`

Bull call spread, long the 100 and short the 110:
https://options.wiki/calc/[email protected],[email protected]&spot=100

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Payoffs are at expiration and ignore commissions, financing, dividends, borrow cost, and early assignment. American-style short legs may be assigned before expiration, which changes the realised outcome. See exercise and assignment.

Reference information only. Not investment advice. Options involve substantial risk of loss.