Multiple break-evens are normal
Iron condors and butterflies have two; ratio spreads can have one or none. The calculator finds every price where your P/L crosses zero — no guessing where they sit.
Free trader tools
Multi-Leg Break-Even Calculator
Define up to four option legs — calls or puts, long or short, any strike, any premium. The calculator finds every break-even, the maximum profit, and the maximum loss across the underlying's plausible range.
Most retail platforms only show break-evens for canonical strategies. Real positions don't always fit a template.
MindTrajour_MultiLegBE
Why custom structures need their own math
Three things only a generic calculator handles correctly.
Asymmetric and unlimited risk is a real risk
Naked short calls are infinitely risky on the upside; ratio spreads can be infinitely risky on one side. The calculator flags unlimited zones explicitly so you don't accidentally read 'max loss is $X' when it's not.
Mix calls, puts, longs, and shorts freely
Diagonals, ratio spreads, calendars (with manual premium adjustment) — anything that's a combination of vanilla European-style options at the same expiration can be entered as legs.
From whiteboard to journal
Custom structures need custom audits.
MindTrajour lets you tag any structure with the legs you actually traded so your win-rate and expectancy stats reflect what you really put on — not the closest template.
No credit card required • Cancel anytime
Keep stacking your edge
Other calculators traders pair with this one.
options
Iron Condor Calculator
Punch in your four strikes, the net credit, and the number of contracts. We give you back the max profit, max loss, both break-evens, and a payoff diagram that shows exactly where the trade lives or dies.
Open tooloptions
Credit Spread Calculator
Pick bull put or bear call, enter the two strikes and net credit, and read max profit, max loss, break-even, and risk-to-reward in seconds. Use this when your edge is premium collection, not a big directional move.
Open toolperformance
Break-Even Calculator
Drop in your win rate, your average win, and your average loss. We give you back the win rate you need to be at break-even given your average R, the edge you currently have over that line, and how many average trades it takes to recover from one average loss.
Open toolFrequently asked questions
Everything you need to know before sizing your next trade.