Options P&L — the only math you need at expiry
On expiry, an option is worth only its intrinsic value — the difference between spot and strike if it's in-the-money, zero otherwise. This calculator assumes expiry P&L: time value has decayed to zero, IV doesn't matter, only spot vs strike matters.
Why option sellers love this calculator
For option buyers, max loss = premium paid, max profit = unlimited (calls) or strike-minus-premium (puts). For option sellers, it's inverted — max profit = premium received, max loss = unlimited (naked calls) or strike-minus-premium (naked puts). The math punishes naked sellers brutally.
Pair with your journal
QbarTrade journals every option leg with its strike, premium and exit P&L — so you can spot patterns like "I always exit my long calls 2 days too early" through the AI Coach.