How is a Long Put breakeven calculated?
At expiration, the standard Long Put breakeven is the strike price minus the premium paid per share. The calculator reflects the selected contract count in the position result.
A Long Put buys one put option and gives the holder the right to sell shares at the selected strike before expiration. It is a defined-risk position that can benefit when the underlying price falls.
Calculate This StrategyAt expiration, the standard Long Put breakeven is the strike price minus the premium paid per share. The calculator reflects the selected contract count in the position result.
For a purchased put held to expiration, the theoretical maximum loss is generally the premium paid, plus any applicable fees.
Explore similar approaches and alternatives to find the best fit for your market outlook.
Similar market outlook or risk profile
Different ways to achieve similar or opposite goals
Bullish
A Long Call buys one call option and gives the holder the right to buy shares at the selected strike before expiration. It is a defined-risk position that can benefit when the underlying price rises.
Bullish with downside protection
A Protective Put combines long shares with a purchased put option. The stock retains upside participation, while the put can establish a lower exit value at the selected strike before expiration.
More sophisticated multi-leg combinations
Moderately bearish
A Bear Put Spread buys one put at a higher strike and sells one put at a lower strike with the same expiration. This creates a defined-risk, defined-reward position with lower cost than buying a put alone.
High volatility expected
A Long Straddle buys both a call and a put at the same strike and expiration. It profits from large price movements in either direction, regardless of which way the underlying moves.
Educational use only. Options involve risk and this calculator does not provide investment advice or guarantee an outcome.