See exactly what a covered call pays before you sell it: premium yield, max value if called away, breakeven on your shares, and how the numbers change week by week. Free, no login.
Theoretical Black‑Scholes estimates from your inputs. Not live quotes, not a forecast, not financial advice: real fills differ with bid‑ask spreads, dividends, early exercise and IV changes.
Tap any input to activate the live chart. Solid line: value at expiration. Dashed: theoretical value today.
Heatmap: estimated position value (Black-Scholes) at each stock price and date. Green = above zero, red = below.
Enter your share count and cost basis, then the call you plan to sell (or load a live chain and pick the strike). The calculator shows the position’s value across prices and dates: the flat-market outcome where you keep the premium, the called-away outcome at your strike, and the downside where the premium only cushions the fall. The heatmap is the covered-call seller’s best friend: it shows the premium decaying into your pocket week by week.
Closer strikes pay more premium but cap upside sooner; further strikes keep more upside but pay less. Shorter expirations decay faster per day, which is why many income sellers stay in the 30-45 day window and roll. Compare a few candidates here, then see our monthly-refreshed list of the best stocks for covered calls for names with liquid chains and sane premiums. Prefer defined capital instead of 100 shares? Model the same idea with the poor man’s covered call preset in our full options profit calculator, and read the PMCC guide.
Yes: free, no login, no ads. It runs entirely in your browser and nothing you enter is stored or sent anywhere.
Your shares are called away at the strike. You keep the premium plus any gain up to the strike; the “max value” stat shows that exact number for your inputs.
The premium cushions the first part of the drop (down to your breakeven), and below that you are simply long stock. The red zone of the heatmap shows precisely where that begins for your basis and premium.
Yes: type a ticker and load the chain to pull the 15-minute-delayed stock price, real strikes, premiums and implied volatility straight into the calculator.
Every tool we build is free: browse the full free tools collection, and grade your own trades with the free trading journal template (Google Sheets, Excel, Notion and printable PDF).
Educational tool only. All values are hypothetical model estimates, not quotes, forecasts or financial advice. Options involve substantial risk and are not suitable for every investor; read the OCC’s Characteristics and Risks of Standardized Options. Pure Power Picks is an educational service and is not a registered investment adviser or broker-dealer.