Get Started

MULTI-LEG OPTIONS STRATEGY

Debit Spread Calculator

Choose live Schwab-backed contracts or enter values manually.

Option legs

Shared live selection with manual fallback.

Long leg · long 1×
Short leg · short 1×

Payoff summary

Defined-risk expiration values.

Net debit
$400.00
Maximum profit
$600.00
Maximum loss
$400.00
Break-even
$104.00
Risk / reward
$1.50

OPTIONS TRADE

MANUAL long call 100 6 / short call 110 2
Expiration
StrategyDEBIT SPREAD
Contracts1 CONTRACT
Net debit400
MAX PROFIT600
MAX LOSS400

Methodology and risk

Debit spreads pay a net debit; credit spreads receive a net credit. Strike order must form a defined-risk vertical spread. Values exclude commissions, assignment, and early-exercise risk.

How this calculator works

A debit spread combines a long option with a farther strike short option to reduce cost in exchange for capped upside.

Formula or payoff

Maximum loss is net debit; maximum profit is strike width minus debit; break-even adjusts the long strike by the debit.

Practical example

A $10-wide spread bought for $4 has a $400 maximum loss and $600 maximum profit per contract.

Risk and limitations

The full debit is at risk, and the short option limits gains if the underlying moves beyond its strike.