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OPTIONS STRATEGY

Long Straddle Calculator

Measure the debit, break-even range, and maximum loss for a same-strike call and put.

Position inputs

Manual values work without a market-data connection.

Strategy summary

Expiration payoff metrics.

Total debit per share
$8.00
Total debit
$800.00
Lower break-even
$92.00
Upper break-even
$108.00
Maximum loss
$800.00
Profit potential
Unlimited

Methodology

Potential profit is theoretically unlimited on the upside and substantial on the downside. This expiration payoff does not model time value or volatility changes before expiration.

How this calculator works

A long straddle buys a call and put at the same strike and expiration to position for a large move in either direction.

Formula or payoff

Total debit is call premium plus put premium; break-evens are strike minus debit and strike plus debit.

Practical example

A $100 call and $100 put bought for $4 each cost $8 per share and break even near $92 and $108 at expiration.

Risk and limitations

The combined debit can be lost if the underlying finishes near the shared strike. Time decay and IV changes matter before expiration.