What's my max profit, max loss, and breakeven on a vertical debit spread?

How this is calculated

• A debit spread's max loss is simply the net premium you pay, and that is also the total capital required. There is no assignment risk beyond a normal long option, since the short leg is covered by the long leg within the strikes.
• Max profit is the width between your strikes minus what you paid, multiplied by 100 shares per contract and your contract count.
• This assumes you hold to expiration and both legs settle at intrinsic value. If you close before expiration, actual profit or loss depends on the spread's market price at that time, which includes remaining extrinsic value.
• Compare this to the Vertical Credit Spread Calculator: a credit spread collects premium upfront and profits if the stock stays away from the short strike, while a debit spread pays premium upfront and profits if the stock moves toward or past the long strike.