🧮 Options Spread Calculator
Simple vertical call spread metrics from leg strikes and premiums.
Net Debit
$4.00
Max Profit
$6.00
Max Loss
$4.00
Breakeven
104.00
How to Use This Calculator
Enter the strike and premium paid for the long call and the strike and premium received for the short call. The tool assumes a standard vertical call spread (debit spread), where you buy the lower strike and sell the higher strike. It returns the net debit (cost), maximum profit, maximum loss, and breakeven at expiry. These metrics help compare spreads across underlyings and expirations without requiring a volatility model.
Formula
Net Debit = Premium(long) − Premium(short)
Max Profit = (K₂ − K₁) − Net Debit
Max Loss = Net Debit
Breakeven = K₁ + Net Debit
Frequently Asked Questions
Does this include assignment risk?
No. The metrics reflect expiry outcomes. Early assignment and transaction costs can change realized P&L before expiry, especially near dividends or pin‑risk scenarios.
Can I model put spreads?
Yes—the same formulas apply if you replace calls with puts in a vertical structure. The signs and intuition are analogous.