Single-leg call or put, long or short — see the expiry P&L at any spot price, max profit/loss, breakeven, and the full payoff diagram.
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At expiry an option is worth exactly its intrinsic value — everything else has decayed away. The P&L of a single leg is:
The diagram makes the asymmetry visible: long options risk only the premium but need a move past breakeven to pay; short options collect the premium up front and win in the flat zone, but the loss side is open-ended (short call) or very large (short put). Lot size multiplies everything — a ₹180 premium on a 75-unit NIFTY lot is ₹13,500 at risk, not ₹180.
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Start Free — No Credit Card →Theta — time decay. An option's premium contains time value that erodes daily, fastest in the final two weeks. At expiry only intrinsic value remains, which is what this calculator (and the payoff diagram) shows.
For a short call, yes in principle — there's no ceiling on the underlying. In practice exchanges demand substantial margin, and brokers square off positions when margin runs out — often at the worst price. Respect the payoff's open side.
This tool covers single legs; for two-leg debit spreads and covered calls use the Options Breakeven Calculator, and for four-leg structures the Iron Condor Calculator. A journal that imports your F&O trades shows the combined real P&L automatically.