TGT Options Profit Calculator
Calculate profit, loss, breakeven, and max gain/loss for Target Corp. (TGT) call and put options at expiration.
Target options see IV expansion into earnings driven by same-store sales data, inventory management, and consumer spending trends.
Over the last three months TGT has been moving at a moderate pace: 28.8% annualized realized volatility (25–45% band). When the chain's IV runs well above this realized figure, sellers are being paid for movement that hasn't been happening; when it's near or below, buyers aren't paying up relative to recent movement.
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
Worked Example: Buying a TGT $155.00 Call
TGT last quoted at $156.00 (as of October 2, 2026). Take one near-the-money $155.00 call expiring in 30 days, priced with Black-Scholes using TGT's own 3-month realized volatility of 28.8% (rates and dividends set to zero): a theoretical premium of $5.64 per share, or $564.00 per contract. Real premiums are priced off implied volatility, which usually runs higher — check your broker's quote.
Cost = max loss
$564.00
Breakeven at expiration
$160.64
+3.0% from today
30-day 1σ move at this volatility
±8.3%
| If TGT at expiration… | Price | P/L (1 contract) | Return |
|---|---|---|---|
| Falls by the 1σ move | $143.12 | −$564.00 | −100.0% |
| Unchanged | $156.00 | −$464.00 | −82.3% |
| Rises by the 1σ move | $168.88 | +$824.05 | +146.1% |
| Rises by the 2σ move | $181.76 | +$2,112.09 | +374.5% |
Breakeven = $155.00 strike + $5.64 premium = $160.64
- To break even, TGT needs +3.0% by expiration — about 0.36× the ±8.3% one-standard-deviation move the same volatility implies. The premium is the price of that move; direction alone doesn't pay.
- TGT's next earnings (November 18, 2026) fall after this expiration, so the premium isn't inflated by an earnings event.
Options P/L for Similar Tickers
Compare TGT Head-to-Head
Trading TGT Options: Strategies & P/L Patterns
Target's moderate IV produces reasonable premium with somewhat sharper gap risk than Walmart due to its discretionary-mix exposure. Defined-risk put credit spreads and call diagonals dominate directional flow because covered calls have repeatedly been breached during margin-pressure quarters. Cash-secured puts at prior support fill cleanly when sentiment turns negative. Short iron condors around earnings benefit from sharp IV crush but require wings outside any plausible inventory-related guidance reset. Calendar spreads benefit from front-month IV elevation during earnings windows. Pair trades against WMT isolate discretionary-versus-staples exposure within consumer retail. Liquidity is good in monthlies and reasonable in weeklies. The wheel strategy works on this name across multi-year holds when entry points are timed to inventory-correction cycles.
Recent TGT Earnings History
Last 4 quarters of EPS estimate vs actual.
| Quarter | Estimate | Actual | Surprise |
|---|---|---|---|
| Q2 2027 | $2.35 | $2.46 | Beat +4.53% |
| Q1 2027 | $1.48 | $1.71 | Beat +15.78% |
| Q4 2026 | $2.18 | $2.44 | Beat +12.08% |
| Q3 2026 | $1.74 | $1.78 | Beat +2.55% |
EPS values from Finnhub. Refreshes daily.
Options P/L Formulas (at expiration)
Long Call: P/L = max(0, TGT − Strike) − Premium
Long Put: P/L = max(0, Strike − TGT) − Premium
Short Call/Put: P/L = Premium − Intrinsic Value
How to Use This Calculator for TGT
- Select call or put — choose based on which TGT contract you're analyzing.
- Choose buy or sell — buying TGT options means you pay the premium; selling means you receive it as credit.
- Enter the strike price — pull this from TGT'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 TGT options contract covers 100 shares.
- Click Calculate — see breakeven, max profit, max loss, and P/L at various TGT expiration prices.
Frequently Asked Questions
- How do I calculate P/L on a TGT call option?
- For a long TGT call, P/L at expiration = max(0, TGT 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, TGT price − strike) × 100.
- What is the breakeven for a TGT put?
- For a long TGT put, breakeven = strike price − premium paid. The position becomes profitable when TGT closes below this level at expiration. For a short put, the same level applies, but you profit when TGT stays above it.
- What's the maximum loss when buying TGT options?
- When you buy TGT 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 TGT moves against you.
- Why are TGT option premiums so different across strikes?
- TGT'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, Target Corp. 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.