Options Spread Calculator
Enter the long strike, short strike and net premium to see the max profit, loss and breakeven of a vertical spread.
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Enter the strikes and net premium to see the spread outcome.
Worked example
With these example inputs:
- Long strike$100
- Short strike$110
- Net premium$4
Max profit: $6.00
- Max loss$4.00
- Breakeven$104.00
Frequently asked questions
How is a vertical spread's profit found?
Max profit is the strike width minus the net premium, and max loss is the premium itself. With strikes 100 and 110 and a $4 premium, max profit is $6, max loss $4 and breakeven $104.
Why trade a spread instead of a single option?
A spread caps both the cost and the risk by offsetting one option with another. You give up unlimited upside in exchange for a cheaper, defined-risk position.