Breakeven
The underlying asset price at which an options trade neither makes nor loses money at expiration.
Explanation
For a long call, the breakeven is the strike price plus the premium paid. For a long put, it is the strike price minus the premium paid. Multi-leg strategies can have one or more breakeven points.
Example
You buy a 100-strike call for $3.00. Your breakeven at expiration is $103.00.