Multi-Leg Options Payoff Diagram Builder

Build a two-leg options strategy and see the full profit-and-loss curve at expiration instantly, exactly where it breaks even, and exactly where risk is actually capped.

Reading This Tool

How To Use This Builder

Configure two option legs, type, strike, premium, and whether each is bought or sold.

The chart plots combined profit and loss at expiration across a range of underlying prices, the classic payoff diagram used to evaluate any spread, straddle, or covered position.

Leg 1

Option Type

Position

Strike Price $50

Premium Paid/Received $5.00

Leg 2

Option Type

Position

Strike Price $60

Premium Paid/Received $2.00

Default legs show a bull call spread: long the 50 call, short the 60 call. Change either leg's type and position to build a bear spread, straddle, strangle, or covered write instead.

Strategy Payoff Summary

Max Profit

Max Loss

Net Premium (Paid If Positive, Received If Negative)

Profit & Loss At Expiration, By Underlying Price

This shows payoff at expiration only, ignoring time value, implied volatility changes, and early assignment risk on American-style options. Actual position value before expiration will differ from this diagram.

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