Options Contracts

LEAPS Calculator

Compare selling your calls, exercising them to own shares, or selling the calls and buying shares separately. Use an executable option bid for the most realistic comparison.

Position details

Ticker (optional)

Contracts

Current stock price ($)

Call strike ($)

Option bid / sale price ($ per share)

Your original premium ($ per share)

Expiration date

Estimated total fees ($)

Cash available to exercise ($) — optional

Position summary

Total premium paid

$540

Original cost of these contracts

Exercise cash required

$5,000

Strike × 100 × contracts

Intrinsic value / contract

$750

Before fees and taxes

Time value / contract

Option bid minus intrinsic value

Enter your details to compare your alternatives. This tool assumes standard equity options deliver 100 shares per contract.

Advanced Settings Greeks & estimates

Optional Black–Scholes estimate for a European-style call approximation. U.S. equity options are generally American-style; this estimate is not a live quote and can differ from market prices.

Implied volatility (% annual)

Risk-free rate (% annual)

Dividend yield (% annual)

Model estimate	Per share	Meaning
Model call value	—	Estimated fair value
Delta	—	Approx. price sensitivity
Gamma	—	Change in delta
Theta	—	Estimated daily time decay
Vega	—	Value change per 1 vol point
Rho	—	Value change per 1 rate point

Sell vs. exercise

1. Sell the calls Cash out

$15,100

Receive the option sale proceeds, less estimated fees.

2. Exercise into shares Own stock

$15,000

Own 2,000 shares. Requires $5,000 in exercise cash.

3. Sell calls, then buy shares Compare

1,510 shares

Use the net option proceeds to buy shares at the entered stock price; fractional shares assumed for comparison.

At a glance

Breakeven at expiration

$2.77

Strike + original premium

Unrealized P/L if sold now

$14,560

Sale proceeds minus original cost

Extrinsic value surrendered

$100

Compared with selling calls

Effective share cost basis

$2.77

Strike + premium paid per share

Decision guide: The calculator will compare the value surrendered by exercising with the time value still embedded in the option.

Important: This is a decision aid, not a recommendation. Taxes, bid/ask spreads, exercise cutoffs, broker rules, and after-hours price movements can change the result. Never use the midpoint as if it were an executable bid.