Options Strategy Calculator

Educational, not advice. This Actor does math on numbers you type in. It fetches no market data and gives no trade recommendations. Real results differ because of early assignment, dividends, fees, slippage and IV changes.

Work out max profit, max loss, breakevens, return on capital (raw and annualized), and Black-Scholes probability of profit / probability ITM for common options strategies. You can run one calculation or a batch of up to 100 in a single run.

Supported strategies (strategy)

Value	Required fields
cash_secured_put	putStrike, putPremium
covered_call (wheel)	stockCostBasis, callStrike, callPremium, optional priorPremiumsCollected
bull_call_spread / bear_put_spread (debit)	longStrike, longPremium, shortStrike, shortPremium
bear_call_spread / bull_put_spread (credit)	shortStrike, shortPremium, longStrike, longPremium
iron_condor	longPutStrike/Premium, shortPutStrike/Premium, shortCallStrike/Premium, longCallStrike/Premium
pmcc	longCallStrike, longCallPremium, longCallDte, shortCallStrike, shortCallPremium, optional longCallImpliedVolatility
roll	optionType (put/call), oldStrike, newStrike, closeCost, newPremium, originalPremium, optional stockCostBasis (covered call)

Every strategy also needs underlyingPrice, dte, and impliedVolatility (percent). riskFreeRate (percent, default 0) and contracts (default 1) are optional. Premiums are per share, and dollar outputs are multiplied by 100 × contracts.

Batch example

{ "underlyingPrice": 100, "dte": 30, "impliedVolatility": 30,
  "calculations": [
    { "strategy": "cash_secured_put", "putStrike": 95, "putPremium": 1.5 },
    { "strategy": "iron_condor", "longPutStrike": 85, "longPutPremium": 0.5, "shortPutStrike": 90, "shortPutPremium": 1.2,
      "shortCallStrike": 110, "shortCallPremium": 1.1, "longCallStrike": 115, "longCallPremium": 0.4 } ] }

Output (dataset, one row per calculation)

maxProfit, maxLoss (null when the value is unlimited, with maxProfitUnlimited/maxLossUnlimited flags), breakevens, netPremiumPerShare (+credit / −debit), capitalRequired, returnOnCapitalPct, annualizedReturnPct (simple, ROC × 365 / DTE), probabilityOfProfitPct, strategy-specific extras (for example probabilityAssignedPct, wheelAdjustedCostBasis, setupValid for PMCC, rollType), warnings, and disclaimer. Invalid inputs produce no dataset row: their errors appear in the run log, the status message, and the key-value store records OUTPUT and ERRORS.

Methodology

• Probabilities: a risk-neutral lognormal model (Black-Scholes, N(d2)) using the IV and rate you supply, evaluated at expiration.
• CSP ROC = premium / strike (fully cash-secured). Spread and condor ROC = max profit / max loss.
• PMCC: the setup counts as valid when short strike > long strike + long-call debit. Max profit and breakeven are estimated at short-call expiry, with the remaining LEAPS value from Black-Scholes. Max loss = net debit.
• Roll: net credit/debit = new premium − buy-to-close cost. The new breakeven uses the total premium kept (original + roll net).

Pricing

Pay-per-event: you are charged per successful result row in the dataset (one row per valid calculation) plus a tiny Actor start fee. Invalid inputs create no row and are not charged per result.

Disclaimer

Educational, not advice. Not affiliated with any broker. Do your own research.

Worked examples

All examples assume the underlying is at $100, 30 days to expiration, and 30% IV, with 1 contract. Dollar values are per contract.

Cash-secured put calculator example

Sell the 95 put for $1.50: {"strategy":"cash_secured_put","underlyingPrice":100,"dte":30,"impliedVolatility":30,"putStrike":95,"putPremium":1.5} → max profit $150, max loss $9,350, breakeven $93.50, return on capital 1.58% (19.21% annualized), probability of profit ≈77%.

Iron condor calculator example

Buy the 85 put / sell the 90 put / sell the 110 call / buy the 115 call for a $1.40 net credit: max profit $140, max loss $360, breakevens $88.60 / $111.40, ROC 38.9%, plus a probability of profit and a probability of max profit.

Poor man's covered call (PMCC) example

LEAPS 80 call (365 DTE) bought for $23, with the 30-DTE 110 call sold for $1.50: net debit $21.50 = max loss $2,150. The setup is valid because 110 > 80 + 23. You also get the max profit and breakeven estimated at short-call expiry (Black-Scholes), plus the LEAPS extrinsic value. If you sell the 102 call instead, the result shows setupValid: false with a warning.

Options roll calculator example

Roll a short 95 put (originally sold for $1.50) down and out to a 90 put at 45 DTE: buy to close at $3.00, sell the new put for $3.50 → $0.50 net credit, total premium collected $2.00, new breakeven $88.00, ROC 2.22% on new collateral.

Use with AI agents / MCP

The Actor is agent-ready. The input schema documents every field with an example, and each output is a structured JSON row.

• Apify MCP server: connect your MCP client (Claude Desktop, Cursor, VS Code, etc.) to https://mcp.apify.com with your Apify token. Add this Actor as a tool, for example with https://mcp.apify.com?tools=xprm-llc/options-strategy-calculator, or have the agent search for it with add-actor.
• Call by name: xprm-llc/options-strategy-calculator, via the API (POST https://api.apify.com/v2/acts/xprm-llc~options-strategy-calculator/run-sync-get-dataset-items), the Apify SDK, or MCP.
• JSON input example (batch):

{ "underlyingPrice": 100, "dte": 30, "impliedVolatility": 30, "riskFreeRate": 4,
  "calculations": [
    { "strategy": "cash_secured_put", "putStrike": 95, "putPremium": 1.5 },
    { "strategy": "iron_condor", "longPutStrike": 85, "longPutPremium": 0.5, "shortPutStrike": 90, "shortPutPremium": 1.2,
      "shortCallStrike": 110, "shortCallPremium": 1.1, "longCallStrike": 115, "longCallPremium": 0.4 },
    { "strategy": "roll", "optionType": "put", "oldStrike": 95, "newStrike": 90, "closeCost": 3, "newPremium": 3.5, "originalPremium": 1.5, "dte": 45 } ] }

Each valid calculation returns one dataset row. Agents should read maxProfit, maxLoss, breakevens, probabilityOfProfitPct, and warnings.

FAQ

Does it fetch live option prices? No. You supply every price. It's a pure options profit calculator with no data feed and no broker connection. How is probability of profit calculated? With a Black-Scholes lognormal model at expiration, using your implied volatility and risk-free rate (N(d2) between the breakevens). How is ROC calculated? CSP: premium / strike. Covered call: max profit if called away / wheel-adjusted cost basis. Spreads and iron condors: max profit / max loss. Annualized = ROC × 365 / DTE (simple, not compounded). What does the wheel cost basis mean? Put earlier CSP and covered-call premiums in priorPremiumsCollected, and the Actor lowers your effective cost basis and breakeven. How do I check a PMCC? The setup is flagged valid only when the short strike is above the long strike plus the LEAPS debit, so an assignment can't lock in a loss. What am I charged for? Each successful result row, plus a tiny start fee. Invalid inputs produce no row; their errors go to the run log, the status message, and the OUTPUT/ERRORS records. Is this financial advice? No. It's educational, not advice.