MARA Options Profit Calculator
Calculate profit, loss, breakeven, and max gain/loss for Marathon Digital Holdings (MARA) call and put options at expiration.
Marathon Digital options carry very high IV that closely tracks Bitcoin price movements. Crypto market conditions dominate expected ranges.
Premiums are very expensive. Long options carry significant time-decay risk, and short strategies offer rich credits but with meaningful tail risk. Defined-risk structures are usually preferred over naked positions.
Quote refreshes every 6h. Use as context — not a real-time price.
IV typically expands into earnings and crushes on the report. Plan your position size and expiration accordingly.
Select option type and position, enter your trade details, then click Calculate P/L to see potential profit/loss at expiration.
For educational purposes only. Not financial advice. Read full disclaimer
Options P/L for Similar Tickers
Trading MARA Options: Strategies & P/L Patterns
Marathon Digital's very high IV produces rich premium that closely tracks BTC volatility. Covered call writers collect generous credit but face frequent assignment on crypto-rally days. Cash-secured puts at prior support pay well but the assignment risk during BTC drawdowns is significant. Most disciplined income traders use defined-risk structures here, with bull put spreads and short iron condors the common setups. Calendar spreads benefit from elevated front-month IV around halving-cycle catalysts and major BTC moves. Pair trades against RIOT, IBIT, or directly against BTC futures isolate company-specific drivers like hashrate growth or energy costs. Liquidity is good in monthlies and active in weeklies. Position sizing should reflect the genuine possibility of realized moves that are multiples of BTC's own range.
Recent MARA Earnings History
Last 4 quarters of EPS estimate vs actual.
| Quarter | Estimate | Actual | Surprise |
|---|---|---|---|
| Q1 2026 | -$2.20 | -$3.31 | Miss -50.71% |
| Q4 2025 | -$0.13 | -$4.52 | Miss -3425.74% |
| Q3 2025 | $0.45 | $0.31 | Miss -31.51% |
| Q2 2025 | $0.63 | $1.89 | Beat +200.29% |
EPS values from Finnhub. Refreshes daily.
Options P/L Formulas (at expiration)
Long Call: P/L = max(0, MARA − Strike) − Premium
Long Put: P/L = max(0, Strike − MARA) − Premium
Short Call/Put: P/L = Premium − Intrinsic Value
How to Use This Calculator for MARA
- Select call or put — choose based on which MARA contract you're analyzing.
- Choose buy or sell — buying MARA options means you pay the premium; selling means you receive it as credit.
- Enter the strike price — pull this from MARA's option chain on your broker.
- Enter the premium — the per-share cost. Multiply by 100 to get the total dollar cost or credit per contract.
- Enter the number of contracts — each MARA options contract covers 100 shares.
- Click Calculate — see breakeven, max profit, max loss, and P/L at various MARA expiration prices.
Frequently Asked Questions
- How do I calculate P/L on a MARA call option?
- For a long MARA call, P/L at expiration = max(0, MARA price − strike) × 100 − total premium paid. Enter the strike, premium, and number of contracts above to compute it. For short calls, P/L = premium received − max(0, MARA price − strike) × 100.
- What is the breakeven for a MARA put?
- For a long MARA put, breakeven = strike price − premium paid. The position becomes profitable when MARA closes below this level at expiration. For a short put, the same level applies, but you profit when MARA stays above it.
- What's the maximum loss when buying MARA options?
- When you buy MARA calls or puts, the maximum loss is the premium you paid (per contract × 100 shares). This is the most attractive feature of long options — your downside is capped regardless of how far MARA moves against you.
- Why are MARA option premiums so different across strikes?
- MARA's premiums vary with strike based on implied volatility, time to expiration, and how far the strike is from the current price. At-the-money strikes carry the most time value; out-of-the-money strikes are cheaper but have lower probability of finishing in-the-money.
- Does this calculator show P/L before expiration?
- No — this calculator shows P/L at expiration only. Before expiration, Marathon Digital Holdings option prices include time value (extrinsic premium) that depends on remaining DTE, implied volatility, and the Greeks. For pre-expiration analysis, use a Black-Scholes or Options Greeks calculator.