Multi-Leg Average Entry Calculator

A multi-leg average entry price is the quantity-weighted blended cost per unit across several separate execution fills — the legs — in the same direction on the same instrument. If you build an options position over three fills at different premiums, or roll a futures contract across two contract months, your 'effective' entry is not any single fill price but the weighted mean of all fills. The formula is: averageEntry = Σ(priceᵢ × qtyᵢ) / Σqtyᵢ.

Both calculators use identical quantity-weighted averaging math. The difference is keyword framing and use-case context. The Average Price Calculator is aimed at stock investors averaging down a position over time (cost-basis DCA). This Multi-Leg Average Entry Calculator is framed for options traders, futures traders and systematic/algorithmic traders who stage into a position across multiple simultaneous or sequential legs — where 'leg' is the standard term for one fill in a structured entry. The underlying arithmetic is the same engine.

Enter each fill as a leg: the premium you paid per contract as 'price' and the number of contracts as 'quantity'. The calculator weights each fill by its contract count and returns the blended premium per contract. For example, buying 10 contracts at $2.50 and 20 contracts at $1.80 gives a blended entry of (10×2.50 + 20×1.80) / (10+20) = 73 / 30 ≈ $2.43 — not the simple average of $2.15.

A futures roll is closing a near-term contract and opening a later-dated contract to maintain exposure. Traders often roll in multiple tranches at different prices. Enter each tranche's fill price (the futures contract price) and quantity (number of contracts) as a leg. The blended entry shows your effective opening price for the rolled position, which you can compare with your closing price to assess roll cost or roll gain.

Staged entry (also called scaling in or building a position in tranches) means splitting a target position size across multiple fills over time — at different price levels — to reduce timing risk. Each fill is a 'leg'. Your actual break-even and P&L depend on the blended average, not any single fill. This calculator gives you that blended number instantly so you can see whether your scaling strategy has produced a better or worse average than a single fill at today's price would have.

Break-even price equals the blended average entry price (fee-free). For a long position, you break even when the market price returns to your weighted average cost. For options, the total position is profitable at expiry when the underlying exceeds the strike by more than your blended premium per contract. This calculator does not include commissions, bid/ask spread or contract multipliers — real-world break-even is slightly higher than shown.

This calculator averages all legs in one direction (all buys or all sells). For a pure short position, enter the prices at which you sold short and the quantities — the blended average shows your effective short-sale price, and entering a lower current market price will show a positive unrealized P&L. For a two-sided spread (e.g. a bull call spread with a long call and a short call), you would need to calculate each side separately and net the results — multi-directional spread P&L is outside the scope of this tool.

Unrealized P&L = (Current Market Price − Blended Average Entry) × Total Units. If you enter a current price above your blended entry, the result is a positive (gain); below, it is negative (loss). P&L % = (Current Price − Blended Entry) / Blended Entry × 100. These figures are pre-tax, pre-fee, and assume you could close the entire position at the quoted current price.

No. Enter the premium per contract as the price and the number of contracts as the quantity. The calculator returns blended premium per contract and total premium paid across all contracts. To convert to notional dollar cost, multiply total investment by the contract multiplier (typically 100 for standard US equity options). The multiplier is a fixed constant you apply outside this tool.

This calculator supports up to 30 legs per calculation. Start with the default two rows and add or remove rows as needed. If you have more than 30 distinct fills, combine the earliest fills manually: sum their quantities and compute the weighted average of those combined legs before entering them as a single row.

A simple average treats every fill equally regardless of how many units were bought. The weighted average accounts for fill size. If your largest fill was at a low price, the blended entry will be closer to that fill's price than a simple average would suggest. Example: 10 units at $5.00 and 90 units at $3.00 → weighted average $3.20 vs simple average $4.00 — a $0.80 per unit difference that materially changes your break-even.

Yes. The formula is currency-agnostic and works for any instrument where fills are expressed as price per unit and a quantity of units. For crypto, enter the token price and number of tokens per fill. For forex, treat each lot fill's open price and lot size as the leg. The currency selector adjusts symbol display (USD, EUR, GBP, INR, JPY) but does not change the arithmetic.