Build any options strategy with up to 6 legs. Visualize the payoff diagram, find max profit, max loss, breakeven points, and risk-reward ratio for Nifty, Bank Nifty, and stock options.
1 Setup
Nifty: 25 units
2 Build Strategy — Add Legs
Add up to 6 option legs. Use preset strategies or build custom combinations.
#
Action
Type
Strike
Premium
Cost/Credit
Net Premium: ₹0 | Legs: 0/6
Strategy Summary
Strategy
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Max Profit
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Max Loss
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Risk:Reward
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Payoff Diagram at Expiry
■ Profit zone■ Loss zone● Breakeven
P&L at Key Prices
Nifty at Expiry
Leg 1
Leg 2
Leg 3
Leg 4
Total P&L
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Disclaimer: This calculator shows theoretical payoff at expiry only. Actual P&L before expiry depends on Greeks (Delta, Theta, Vega, Gamma), implied volatility changes, and time decay. Premiums used are user inputs — verify with your broker's live chain. F&O trading involves substantial risk. This is not financial advice.
Frequently Asked Questions
How do I build a bull call spread?
Buy a call at a lower strike, sell a call at a higher strike (same expiry). Max profit = strike difference minus net premium. Max loss = net premium paid. Use the preset button above to auto-fill.
What is an iron condor?
An iron condor is a 4-leg strategy: sell a put, buy a lower put, sell a call, buy a higher call. It profits when Nifty stays within the range of the two short strikes. Max profit = net premium received.
Why does the payoff differ before expiry?
Before expiry, options have time value (Theta) and are affected by IV changes (Vega). The payoff diagram shows P&L at expiry only — when time value is zero. Use a Greeks calculator for pre-expiry analysis.
What lot size should I use?
Nifty: 25. Bank Nifty: 15. FinNifty: 25. MidcpNifty: 50. These are NSE lot sizes for 2026. Stock lot sizes vary — check nseindia.com.
Can I use this for Bank Nifty?
Yes. Select Bank Nifty from the instrument dropdown. The calculator adjusts spot price and lot size automatically. Payoff logic is identical.