Free tools
Free Options Calculators
Four calculators for the numbers option sellers check before a trade. Each runs in your browser from the figures you enter. Each shows its formula and assumptions, works through an example, and gives you a link that holds your inputs.
The calculators
- Covered call calculatorCompare the premium you collect with the return if the shares are called away, and find the breakeven.You enter: Stock price, call strike, premium, days to expiry, contractsYou get: Premium yield, return if called, monthly and annualised yield, breakevenOpen the calculator
- Cash-secured put calculatorTurn a premium into monthly and annualised yield on the cash you hold, and find the effective purchase price.You enter: Stock price, put strike, premium, days to expiry, contractsYou get: Monthly and annualised yield, return on cash, breakeven, maximum lossOpen the calculator
- Expected move calculatorConvert implied volatility into a one-sigma price range and compare it with the straddle.You enter: Stock price, implied volatility, days to expiry, optionally the at-the-money call and putYou get: One-sigma and two-sigma ranges, the straddle moveOpen the calculator
- Probability of profit calculatorEstimate the chance a single option or a vertical spread (two options at different strikes) finishes in profit at expiry.You enter: Position, stock price, IV, days to expiry, strikes and premiumsYou get: Probability of profit, breakevens, maximum profit and lossOpen the calculator
How the numbers are built
The yield calculators use the Monthly Yield % formula from the Matrix in Options Matrix Pro: the premium divided by the capital the position ties up, scaled to 30 days. The expected move and probability calculators use the models the product relies on when it has only an implied volatility to work from. Every page lists its formulas, assumptions and a worked example.
These tools take one position at a time and nothing is fetched for you. To compare every strike and expiry for one symbol, see the Options Yield Matrix.
Learn the strategy behind each one
Compare contracts without typing each one in
The Options Yield Matrix loads every strike and expiry for one symbol and ranks them by Monthly Yield %.