Collateral, premium income, return on capital, annualized return, breakeven, and max profit for a short put. It runs in your browser. No account and no sign-in.
Premium is per share, the way options are quoted. Fees are the total dollars for the order, not per contract. Leave stock price blank to skip the expiration estimate.
OptionsLoop links each cash-secured put to its assignment and to the covered calls that follow, so a wheel's real cost basis is one number instead of a pile of trades.
Track your wheel trades freeA cash-secured put is a promise to buy 100 shares per contract at the strike if the buyer exercises. You set aside the cash to keep that promise. In return you collect a premium. The trade works out best when the stock stays at or above the strike and the put expires, so you keep the premium and the cash. If the stock finishes below the strike, you buy the shares. Your effective price is the strike minus the premium, which is the breakeven this calculator shows.
Sell a $50 put for $1.20 a share. Fees are $0. These are the numbers already filled in above.
If the stock fell to $48 instead, expiration would lose $80: the $200 intrinsic loss minus the $120 premium. That is below the $48.80 breakeven, so the premium no longer covers the drop.
If you are assigned, the usual next step in the wheel is a covered call against the new shares. The covered call calculator picks up from a cost basis, and the wheel strategy calculator chains the put, the assignment, and the calls into one basis and one return.
A cash-secured put reserves enough cash to buy the shares if you are assigned: the strike price times 100 times the number of contracts. A $50 strike on one contract reserves $5,000. That cash stays set aside until the put expires or you close it. This calculator uses that full amount as collateral. Some brokers reduce buying power by the premium you already received, which makes the return look higher.
Breakeven is the strike minus the net premium per share. Net premium is the premium you sold, minus any fees you enter, spread across the 100 shares each contract controls. If the stock is at that price at expiration, the premium offsets the loss on the assigned shares. Below it, the trade loses money.
Return on capital times 365 divided by the days to expiration. Return on capital is net premium divided by collateral. This is a simple annualization, the same one in the annualized-return guide, not a compounded rate. It assumes the put expires worthless and that the same trade can be repeated, which is not something you can count on. A very short trade produces a large annualized number from a small premium.
The most you make, if the put expires worthless, is the premium you keep after fees. That is the max profit shown here. If you are assigned and the stock later goes to zero, the most you lose is the collateral minus that premium. The stock price field shows the result at expiration if the share price does not move: full premium when the stock finishes at or above the strike, and a smaller gain or a loss when it finishes below.
This calculator is educational content, not financial advice. It does not recommend a trade, and it does not predict whether an option will expire, be assigned, or make money. Options can lose the full collateral you set aside. OptionsLoop is a tracking tool, not a broker or investment adviser. Examples use made-up prices.