What's my max profit, max loss, and breakeven on a vertical credit spread?
Enter Your Spread
Your Result
Fill in your strikes, credit received, and contracts, then click Calculate to see max profit, max loss, and breakeven.
How this is calculated
Spread width equals the distance between your two strikes.
Max profit equals the total credit received, and it is realized if the stock stays on the profitable side of your short strike at expiration.
Max loss equals the spread width minus the credit received, since the long option caps how far the trade can go against you.
Breakeven adds the credit to the short strike on a call credit spread, or subtracts the credit from the short strike on a put credit spread.
A standard equity option contract represents 100 shares. This calculator assumes standard, unadjusted contracts held to expiration; early assignment is possible on American-style options before then.
Risk & liability disclaimer: This calculator produces a mathematical estimate based on the numbers you enter. It is not financial, investment, or tax advice and does not guarantee any trading outcome. Trading and options trading involve risk of loss, including the potential loss of your full investment. Trading Habits is not a broker-dealer, registered investment adviser, or tax professional, and is not affiliated with any broker, exchange, or data provider. Always verify results independently and consult a licensed professional before making any trading or financial decision.
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