Long call expiration payoff calculator

Compare the editable scenario with a recorded closing lifecycle

A separate detailed run completed on 2026-10-10 with the same saved candidate, fixed dates and fees. It reproduced the lightweight result retained in the linked source record. The captured opening condition had SPY at $472.16, SMA50 at $461.57 and matching-position count 0. Both entry checks were true.

The first position opened on January 2 and closed on January 19, 2024, at 14 DTE. The time-exit close evaluation emitted 1 order. These are simulated Filled orders, not broker executions. The first position's P&L was $1.51 after recorded commissions, calculated from all its opening and closing premiums and quantities.

Compare the selected-candidate bid, ask and mid with the Filled-order premium. Follow the contract symbols and timestamps to connect selection, sizing and execution.

Read a before-expiration close separately from expiration payoff

This source's first complete position has 2 recorded contract fills, each charged $0.65, totaling $1.30 in commissions. Its January 19 close happened before February 2 expiration. The call's displayed premiums moved from $8.6544 to $8.6825; multiplied by 100 × 1 contracts and reduced by $1.30 commissions, they yield about $1.51 from the displayed rounded fields.

The calculator prices the terminal intrinsic payoff under its edited assumptions. It does not recreate these earlier closing fills. Keep the actual selected strikes, expiry, multiplier, quantity and fees alongside the recorded premiums when comparing a historical position.

Inspect the full source result beside its actual lifecycle

Strategy return

31.16%

Maximum drawdown

13.27%

SPY return

25.30%

This saved long call completed a January 1 through December 31, 2024 backtest with $10,000 starting capital and interval Day. The result includes the full historical curve and the captured trade walkthrough near the top.

The SPY comparison invests the full starting balance, reinvests dividends and applies no strategy commission. This candidate uses a $1,000 option premium budget per opening and the fees shown below. Explore cash and position values to see how each deploys capital.

Use the pricing counters to explore observed and synthetic half-spread calls, including contract selection and sizing. Follow the detailed events below to connect entry conditions, selected contracts, quantities and fills.

What the expiration scenario assumes

The scenario buys a call. Its intrinsic value at expiration is max(underlying price minus strike, 0). Subtract the premium, multiply by the actual contract multiplier and quantity, then subtract total entered position costs. The upside is not capped by a sold call.

Prices are dollars per underlying share. Total position costs are dollars for the entire position, rather than a per-contract fee. Verify the actual multiplier for your contract. This is expiration arithmetic, not a quote, a price estimate before expiration or a historical backtest. It excludes exercise and assignment consequences and assumes the option legs remain intact.

Inspect a real historical example

The strategy guides use saved selector rules and completed product simulations. Their captured fills and curves are separate from the editable assumptions above.

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