Breakeven

The stock price at expiration where the position neither makes nor loses money.

Why it matters

Say it out loud before entering: it is how far the stock must go for you to be right.

For a long call: strike + premium. For a long put: strike − premium.

In the Cluenex app, this explanation opens next to every breakeven figure, with the live reading for the stock you are looking at. Open it in Cluenex