Options calculator — ETH profit/loss and break-even
Pick a strategy and expiry; you can change strike, price and quantity. Prices: combined mark price of four exchanges (2026-11-06 21:29 UTC, ETH ≈ $2,230). Gold line = result at expiry, dashed = if sold before expiry (sliders change time and IV).
| ETH move | Now | Day 2 | Day 4 | Expiry |
|---|---|---|---|---|
| ▼ -20% | −$63.02 | −$63.03 | −$63.03 | −$63.03 |
| ▼ -10% | −$59.63 | −$61.88 | −$62.95 | −$63.03 |
| ▼ -5% | −$44.4 | −$51.77 | −$59.29 | −$63.03 |
| 0% | −$2.39 | −$13.05 | −$26.94 | −$58.12 |
| ▲ +5% | +$72 | +$64.45 | +$56.91 | +$53.37 |
| ▲ +10% | +$169 | +$167 | +$165 | +$165 |
| ▲ +20% | +$388 | +$388 | +$388 | +$388 |
Delta 0.526 · Gamma 2.63e-3 · Theta −$4.67/day · Vega $1.18/pt
* Chance of profit at expiry: from the log-normal distribution implied by this expiry's ATM implied volatility (risk-neutral); not a forecast. IV held constant in the scenario table. Trading and settlement fees not included.
Frequently asked questions
How is option profit/loss calculated?
At expiry a call's profit = max(0, price − strike) − premium; a put's = max(0, strike − price) − premium. Selling flips the sign. Multi-leg results are summed. Before expiry the option's value uses Black-Scholes with remaining time and implied volatility.
Where do the prices come from?
Open-interest-weighted average of mark prices for the same expiry and strike on Deribit, OKX, Bybit and Binance (every 5 minutes). Real bid/ask may differ; you can type your own price.
How reliable is the chance of profit?
It is implied by the options' implied volatility (risk-neutral log-normal). It is the market-implied probability, not a forecast.