Fd Assignment
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1.BUY A CALL OPTION AND SELL A CALL OPTION .LONG POSITION AT LOWER STRIKE PRICE ,SHORT POSITION AT HIGHER STRIKE PRICE .LONG POSITION PREMIUM IS GREATER THEN SHORT POSITION PREMIUM BUY A CALL OPTION SPOT STRIKE PREMIUM ACTION P/L 115 STRIKE 130 PREMIUM 7 ACTION NA P/L 1PORTFOLIOP/L -7 120 130 6 7 NA NA -7 -1 140 6 125 130 6 7 NA NA -7 -1 140 6 130 130 7 NA/A -7 -1 140 6 NA 6 135 130 7 A -2 -1 140 6 NA 6 140 130 7 ACTION 3 140 6 NA 6 4 145 130 7 ACTION 8 140 6 NA/A 6 9 150 130 7 ACTION 13 140 6 ACTION 1 9 155 130 7 ACTION 18 140 6 ACTION -4 9 140 6 ACTION -9 9
SELL A CALL OPTION
P/L BUY1
P/L SELL1
20
8 6
15
4 2
5
P/L BUY
0 -5
P/L
P/L
10
0 -2
115 120 125 130 135 140 145 150 155
-4 115 120 125 130 135 140 145 150 155
-6 -8
-10
-10 SP
SP
P/L SELL
1PORTFOLIO P/L 10 8
P/L
6 4
1PORTFOLIO P/L
2 0 -2 115 120 125 130 135 140 145 150 155 SP
CHART 1
P/L BUY P/L SELL 1PORTFOLIO P/L
P/L
20 10 0
-10 115120125130135140145150155 -20 SP
2 BUY A CALL OPTION AND SELL A CALL OPTION .LONG POSITION AT HIGHER STRIKE PRICE ,SHORT POSITION AT LOWER STRIKE PRICE .LONG POSITION PREMIUM IS LESER THEN SHORT POSITION PREMIUM.
BUY CALL OPTION SPOTPRICE 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 145 145 145 145 145 145 145 145 145 145 145 145 145
SELL CALL OPTION PREMIUM 6 6 6 6 6 6 6 6 6 6 6 6 6
ACTION NA NA NA NA NA NA N ACTION ACTION ACTION ACTION ACTION ACTION
P/L BC -6 -6 -6 -6 -6 -6 -6 -1 4 9 14 19 24
STRIKE 140 140 140 140 140 140 140 140 140 140 140 140 140
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA N ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L SC2 7 7 7 7 7 7 2 -3 -8 -13 -18 -23 -28
P/L BC2 -6 -6 -6 -6 -6 -6 -6 -1 4 9 14 19 24
2OVER ALL 1 1 1 1 1 1 -4 -4 -4 -4 -4 -4 -4
P/L BC2 30 25 20 P/L
15 10
P/L BC
5
17 5
16 5
15 5
14 5
13 5
11 5
12 5
0 -5
-10 SP
P/L SC 10 5
17 5
16 5
15 5
14 5
13 5
1 P/L15
-5
12 5
0
-10
P/L SC2
-15 -20 -25 -30 SP
PORTFOLIO 2 1 0
30
5 17
5 16
5 15
5 14
5 13
11
5
-10
5
10 0 12
P/L
17 5
16 5
15 5
14 5
13 5
12 5
20
P/L 11 5
-1 -2 -3 -4 -5
P/L SC2 P/L BC2 PORTFOLI 2
CHART 2
PORTFOLIO 2
-20 -30 -40
SP
SP
3. BUY A PUT OPTION AND SELL A PUT OPTION. LONG POSITION AT LOWERSTRIKE PRICE SHORT POSITION AT HIGHER STRIKE PRICE.SHORT POSITION PREMIUM IS GREATER THEN LONG POSITION PREMIUM
BUY PUT SPOTPRICE 115
STRIKE 150
PREMIUM 7
SELL PUT ACTION ACTION
P/L BP3 28
STRIKE 160
PREMIUM 10
ACTION ACTION
P/L SP3 -35
PORT FOLIO -7
160 160 160 160 160 160 160 160 160 160 160 160
5 5 1 7
5
1 5
1 6
5
5 1 4
5 1 3
5
1 1
1 2
5
0 -10
-7 -7 -7 -7 -7 -7 -7 -2 3 3 3 3
5 1 7
1 5
5
5
1 4
1 1
P/L
5
15
15 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40
5
20 10
-30 -25 -20 -15 -10 -5 0 5 10 10 10 10
P/L SP3
25
P/L SP3
SP
SP
PORTFOLIO3 4 2
5
5 1 7
1 6
5 1 5
5
5
5 1 4
1 3
-2
1 2
1 1
5
0 3OVER ALL
-4 -6 -8 SP
P/L BP3 P/L SP3 PORTFOLIO 3
CHART 3 40
P
-10 -20 -30 -40
SP
175
170
165
160
155
150
145
140
135
130
125
10 0
120
20
115
30
P/L
P/L
P/L
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION N NA NA NA
P/L BP3
30
-5
10 10 10 10 10 10 10 10 10 10 10 10
5
P/L BP3
23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
5
ACTION ACTION ACTION ACTION ACTION ACTION N NA NA NA NA NA
1 6
7 7 7 7 7 7 7 7 7 7 7 7
1 3
150 150 150 150 150 150 150 150 150 150 150 150
1 2
120 125 130 135 140 145 150 155 160 165 170 175
4. BUY A PUT OPTION AND SELL A PUT OPTION. LONG POSITION AT HIGHER STRIKE PRICE SHORT POSITION AT LOWER STRIKE PRICE.SHORT POSITION PREMIUM IS LESSER THEN LONG POSITION PREMIUM BUY PUT SELL PUT P/L OVER SPOTPRICE STRIKE PREMIUM ACTION P/L BP STRIKE PREMIUM ACTION SP ALL 115 160 8 ACTION 37 140 6 ACTION -19 18 120 160 8 ACTION 32 140 6 ACTION -14 18 125 160 8 ACTION 27 140 6 ACTION -9 18 130 160 8 ACTION 22 140 6 ACTION -4 18 135 160 8 ACTION 17 140 6 ACTION 1 18 140 160 8 ACTION 12 140 6 N 6 18 145 160 8 ACTION 7 140 6 NA 6 13 150 160 8 ACTION 2 140 6 NA 6 8 155 160 8 ACTION -3 140 6 NA 6 3 160 160 8 N -8 140 6 NA 6 -2 165 160 8 NA -8 140 6 NA 6 -2 170 160 8 NA -8 140 6 NA 6 -2 175 160 8 NA -8 140 6 NA 6 -2 P/L BP4
P/L SP4
40
10
30
5
5
5 1 7
1 6
5
5
1 5
14
5 13
1 2
5
5
5
-10
P/L SP
-15
1 7
1 6
5
5
1 5
14
5
5
13
-10
12
1 1
5
0
1 1
P/L BP
P/L
P/L
10
-5
5
0
20
-20
-20
-25
SP
SP
CHART4
PORTFOLIO 4 40
20
30 P/L
15
SP
5 17
16 5
5 15
5 14
13
5
-20 -30 SP
17 5
16 5
15 5
14 5
13 5
-10 12 5
-5
P/L SP
0 11 5
0
P/L BP
10
12 5
PORTFOLIO
5
11 5
P/L
20
10
PORTFOLIO 4
5. BUY TWO CALL OPTION AND SELL TWO CALL OPTION. ONE AT LOWER STRIKE PRICE ONE AT HIGHER STRIKE PRICE BUY CALL OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180 185 190
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA NA/A A A A A A A A A A A A A
P/L BUY CO 1 -7 -7 -7 -7 -7 -7 -2 3 8 13 18 23 28 33 38 43 48 53
STRIKE 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170
SELL CALL OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180 185 190
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10
ACTION NA NA NA NA NA NA NA NA NA NA/A A A A A A A A A
P/L SELL CO 1 10 10 10 10 10 10 10 10 10 10 5 0 -5 -10 -15 -20 -25 -30
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
BUY CALL OPTION 2 P/L BUY PREMIUM ACTION CO2 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA/A -6 6 A -1 6 A 4 6 A 9 6 A 14
SELL CALL OPTION 2 P/L SELL SELL CALL PREMIUM ACTION CO2 P/L 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA/A 10 20 10 A 5 10 10 A 0 0 10 A -5 -10 10 A -10 -20 10 A -15 -30 10 A -20 -40 10 A -25 -50 10 A -30 -60
BUY CALL P/L -13 -13 -13 -13 -13 -13 -8 -3 2 7 12 17 22 27 37 47 57 67
PORTFOLIO5 20 20 20 20 20 20 20 20 20 20 10 0 -10 -20 -30 -40 -50 -60
80 70 60 50 40 30 20 10 0 -10 -20
P/L BUY CO 1 P/L BUY CO2
5 1 8
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
1 0
1 1
5
BUY CALL P/L
5
P/L
BUY 2 CALL OPTION 5
SP
5 1 8
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
5 1 1
5
30 20 10 0 -10 -20 -30 -40 -50 -60 -70
1 0
P/L
SELL CALL OPTION 5
P/L SELL CO 1 P/L SELL CO2 SELL CALL P/L
SP
CHART 5 80 60 20 0
-40 -60 -80 SP
18 5
17 5
16 5
15 5
14 5
13 5
OVER ALL 12 5
-20
BUY CALL P/L 11 5
10 5
P/L
40
SELL CALL P/L
6. BUY TWO PUT OPTION AND SELL TWO PUT OPTION. ONE AT LOWER STRIKE PRICE ONE AT HIGHER STRIKE PRICE
BUY PUT OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
ACTION A A A A A NA/A NA NA NA NA NA NA NA NA NA NA
P/L BUY PO 1 20 15 10 5 0 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5
STRIKE 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170
SELL PUT OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10
ACTION A A A A A A A A A NA/A NA NA NA NA NA NA
P/L SELL PO 1 -35 -30 -25 -20 -15 -10 -5 0 5 10 10 10 10 10 10 10
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
BUY PUT OPTION 2 P/L BUY PREMIUM ACTION PO2 6 A 59 6 A 54 6 A 49 6 A 44 6 A 39 6 A 34 6 A 29 6 A 24 6 A 19 6 A 14 6 A 9 6 A 4 6 A -1 6 NA/A -6 6 NA -6 6 NA -6 SELL PUT OPTION 2 P/L SELL PREMIUM ACTION PO2 10 A -35 10 A -30 10 A -25 10 A -20 10 A -15 10 A -10 10 A -5 10 A 0 10 A 5 10 NA/A 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10
BUY PUT P/L 79 69 59 49 39 29 24 19 14 9 4 -1 -6 -11 -11 -11
SELL PUT P/L -70 -60 -50 -40 -30 -20 -10 0 10 20 20 20 20 20 20 20
6 PORT FOLIO 9 9 9 9 9 9 14 19 24 29 24 19 14 9 9 9
BUY 2 PUT 6 100 80 P/L
60
P/L BUY PO 1
40
P/L BUY PO2 BUY PUT P/L
20
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-20
1 1
1 0
5
0
SP
SELL 2 PUT 40 20
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-20
1 1
5 1 0
P/L
0
P/L SELL PO 1 P/L SELL PO2 SELL PUT P/L
-40 -60 -80 SP
CHART 6 100 80 60 BUY PUT P/L
20
SELL PUT P/L
-60 -80 sp
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-40
1 1
-20
5
0 1 0
p/l
40
6OVER ALL
7. BUY ONE CALL OPTION AND SELL ONE PUT OPTION. SAME STRKE PRICE SAME STOCK BUY A CALL OPTION STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L BC -7 -7 -7 -7 -2 3 8 13 18 23 28 33 38
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
8 6 4 0
SP
17 5
16 5
15 5
14 5
13 5
-6 -8 -10 SP
17 5
16 5
15 5
13 5
-4
P/L SP 12 5
-2
11 5
P/L BC
P/L
2
12 5
11 5
P/L
45 40 35 30 25 20 15 10 5 0 -5 -10
PORTFOLIO P/L 7 -15 -10 -5 0 5 10 15 20 25 30 35 40 45
P/L SP 7
P/L BC 7
14 5
SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
SELL A PUT OPTION P/L PREMIUM ACTION SP 7 ACTION -8 7 ACTION -3 7 ACTION 2 7 A/NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7
PORTFOLIO P/L 7 50 40
20 PORTFOLIO P/L 7
10
75 1
65 1
55 1
45 1
35 1
25 1
15
0 -10
1
-20 SP
CHART 7 50 40 30 P/L
P/L BC
20
P/L SP
10
PORTFOLIO P/L 7 5
5
17
16
5
5
15
5
14
5
13
-10
12
5
0 11
P/L
30
-20 SP
8. SELL ONE CALL OPTION AND BUY ONE PUT OPTION. SAME STRKE PRICE SAME STOCK
SELL A CALL OPTION SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L SC 7 7 7 7 2 -3 -8 -13 -18 -23 -28 -33 -38
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
BUY A PUT OPTION P/L PREMIUM ACTION BP 7 ACTION 8 7 ACTION 3 7 ACTION -2 7 A/NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7
PORTFOLIO P/L 8 15 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40 -45
P/L SC 8 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40 -45
10 75
6
1
65
4 P/L SC
P/L
1
55 1
45 1
1
35
25 1
15
8
1
2
P/L BP
0 -2
115 120 125 130 135 140 145 150 155 160 165 170 175
-4 -6 -8 SP
SP
OVER ALL 8
PORTFOLIO P/L 8
20
20
10
10
PORTFOLIO P/L 8
-30
1 75
1 55
1 45
1 35
15
25 1
P/L BP
-20
-10 1
P/L
75
P/L SC
1
65 1
45
55 1
1
1
35
0 12 5
15
-10
1
P/L
0
1 65
P/L
P/L BP 8
PORTFOLIO P/L 8
-20 -30
-40
-40
-50
-50
SP
SP
9. TAKE LONG POSITION WITH TWO CALL AND ONE PUT OPTION BUY A CALL OPTION 2 SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION
BUY A PUT OPTION P/L BC2 -7 -7 -7 -7 -7 -7 -7 -7 -2 3 8 13 18
P/L BUY 2 CALL -14 -14 -14 -14 -14 -14 -14 -14 -4 6 16 26 36
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION A/NA NA NA NA NA NA
P/L BP 28 23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
ONER ALL P/L 9 14 9 4 -1 -6 -11 -16 -21 -11 -1 9 19 29
P/L BP9 30 25 20 P/L
15 10
P/L BP
5
17 5
16 5
15 5
14 5
13 5
11 5
-5
12 5
0
-10 SP
BUY 2 CALL OPTIONS 9 40 30
P/L
20
P/L BC1
10
P/L BC2 P/L BUY 2 CALL 5 17
5 16
5 15
5 14
5 13
5
11
-10
12
5
0
-20 SP
CHART 9 40
30
30
20
20
17 5
16 5
15 5
PORTFOLIO P/L 9 14 5
-10
-20
P/L BP
0 11 5
17 5
16 5
15 5
14 5
13 5
-10
12 5
0
P/L BUY 2 CALL
10
13 5
PORTFOLIO P/L 9
12 5
10
P/L
40
11 5
P/L
PORTFOLIO P/L 9
-20
-30
-30 SP
SP
10. TAKE LONG POSITION WITH ONE CALL AND TWO PUT OPTION SPOT 115 120 125 130 135
BUY A CALL OPTION STRICK PREMIUM ACTION 150 7 NA 150 7 NA 150 7 NA 150 7 NA 150 7 NA
P/L BC -7 -7 -7 -7 -7
SPOT 115 120 125 130 135
BUY A PUT OPTION 1 STRICK PREMIUM ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION
P/L BP 28 23 18 13 8
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
NA NA NA/A ACTION ACTION ACTION ACTION ACTION
-7 -7 -7 -2 3 8 13 18
140 145 150 155 160 165 170 175
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
ACTION ACTION A/NA NA NA NA NA NA
BUY A PUT OPTION 2 SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRICK 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
P/L BP 28 23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION A/NA NA NA NA NA NA
BUY 2 PUT 56 46 36 26 16 6 -4 -14 -14 -14 -14 -14 -14
ONER ALL P/L 9 49 39 29 19 9 -1 -11 -21 -16 -11 -6 -1 4
P/L BC 10 20 15
175
170
165
160
155
150
145
140
-5
135
115
0
130
P/L BC 125
5 120
P/L
10
-10 SP
BYU 2 PUT 10 60 50 40 30
P/L BP
20
P/L BP
10
BUY 2 PUT
-20 SP
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
-10
5
0 1 1
P/L
140 145 150 155 160 165 170 175
3 -2 -7 -7 -7 -7 -7 -7
PORTFOLIO P/L 10 60 50 40 P/L
30 20
PORTFOLIO P/L 10
10 5 1 7
5 1 6
5 1 5
5 1 4
5
5 1 3
-20
1 2
1 1
5
0 -10 -30 SP
CHART10 60 50 40 P/L
30
P/L BC
20
BUY 2 PUT
10
PORTFOLIO P/L 10 5 1 7
5 16
5 1 5
5 1 4
5
5 1 3
-20
1 2
1 1
-10
5
0
-30 SP
11. BUY ONE CALL OPTION AND SELL ONE PUT OPTION AT DIFFERENT STRIKE PRICE
BUY A CALL OPTION SPOT 115 120 125 130 135
STRICK 150 150 150 150 150
PREMIUM 7 7 7 7 7
ACTION NA NA NA NA NA
P/L BC -7 -7 -7 -7 -7
STRICK 130 130 130 130 130
SELL A PUT OPTION P/L PREMIUM ACTION SP 7 ACTION -8 7 ACTION -3 7 ACTION 2 7 A/NA 7 7 NA 7
PORTFOLIO P/L 11 -15 -10 -5 0 0
140 145 150 155 160 165 170 175
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
NA NA NA/A ACTION ACTION ACTION ACTION ACTION
-7 -7 -7 -2 3 8 13 18
130 130 130 130 130 130 130 130
7 7 7 7 7 7 7 7
NA NA NA NA NA NA NA NA
P/L BC 11 8 6
15
4
10
2
0
175
170
165
160
155
150
145
140
135
130
125
0 -2
120
P/L BC
115
5
P/L
175
170
165
160
155
150
145
140
135
130
125
120
115
-5
-6 -8
-10
-10
SP
SP
CHART 11
P/L BC P/L SP 17 5
15 5
14 5
13 5
PORTFOLIO P/L 11 12 5
30 25 20 15 10 5 0 -5 -10 -15 -20
11 5
17 5
16 5
15 5
14 5
13 5
PORTFOLIO P/L 11 12 5
11 5
30 25 20 15 10 5 0 -5 -10 -15 -20
P/L
PORTFOLIO P/L 11
SP
SP
12. SELL ONE CALL OPTION AND BUY ONE PUT OPTION AT DIFFERENT STRIKE PRICE SELL A CALL OPTION SPOT 115 120 125 130 135 140
P/L SP
-4
16 5
P/L
0 0 0 5 10 15 20 25
P/L SP 11
20
P/L
7 7 7 7 7 7 7 7
STRICK 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7
ACTION NA NA NA NA NA NA
P/L SC 7 7 7 7 7 7
STRICK 130 130 130 130 130 130
BUY A PUT OPTION P/L PREMIUM ACTION BP 7 ACTION 8 7 ACTION 3 7 ACTION -2 7 A/NA -7 7 NA -7 7 NA -7
PORTFOLIO P/L 8 15 10 5 0 0 0
145 150 155 160 165 170 175
150 150 150 150 150 150 150
7 7 7 7 7 7 7
NA NA/A ACTION ACTION ACTION ACTION ACTION
7 7 2 -3 -8 -13 -18
130 130 130 130 130 130 130
7 7 7 7 7 7 7
P/L SC 12
8 6
0 P/L SC
P/L
175
170
165
160
155
150
145
140
135
130
125
120
4
115
-10
2 0 -2 115 120 125 130 135 140 145 150 155 160 165 170 175
P/L BP
-4
-15
-6
-20
-8
SP
SP
PORTFOLIO P/L 12
20 15 10 5 0 -5 115 120 125 130 135 140 145 150 155 160 165 170 175 -10 -15 -20 -25 -30 SP
CHART 12
PORTFOLIO P/L 8
P/L
P/L
0 0 -5 -10 -15 -20 -25
10
5
P/L
-7 -7 -7 -7 -7 -7 -7
P/L BP 12
10
-5
NA NA NA NA NA NA NA
20 15 10 5 0 -5 -10 -15 -20 -25 -30
P/L SC P/L BP PORTFOLIO P/L 8
115 120 125 130 135 140 145 150 155 160 165 170 175
SP
SELL A CALL OPTION
P/L BUY1
P/L SELL1
20
8 6
15
4 2
5
P/L BUY
0 -5
P/L
P/L
10
0 -2
115 120 125 130 135 140 145 150 155
-4 115 120 125 130 135 140 145 150 155
-6 -8
-10
-10 SP
SP
P/L SELL
1PORTFOLIO P/L 10 8
P/L
6 4
1PORTFOLIO P/L
2 0 -2 115 120 125 130 135 140 145 150 155 SP
CHART 1
P/L BUY P/L SELL 1PORTFOLIO P/L
P/L
20 10 0
-10 115120125130135140145150155 -20 SP
2 BUY A CALL OPTION AND SELL A CALL OPTION .LONG POSITION AT HIGHER STRIKE PRICE ,SHORT POSITION AT LOWER STRIKE PRICE .LONG POSITION PREMIUM IS LESER THEN SHORT POSITION PREMIUM.
BUY CALL OPTION SPOTPRICE 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 145 145 145 145 145 145 145 145 145 145 145 145 145
SELL CALL OPTION PREMIUM 6 6 6 6 6 6 6 6 6 6 6 6 6
ACTION NA NA NA NA NA NA N ACTION ACTION ACTION ACTION ACTION ACTION
P/L BC -6 -6 -6 -6 -6 -6 -6 -1 4 9 14 19 24
STRIKE 140 140 140 140 140 140 140 140 140 140 140 140 140
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA N ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L SC2 7 7 7 7 7 7 2 -3 -8 -13 -18 -23 -28
P/L BC2 -6 -6 -6 -6 -6 -6 -6 -1 4 9 14 19 24
2OVER ALL 1 1 1 1 1 1 -4 -4 -4 -4 -4 -4 -4
P/L BC2 30 25 20 P/L
15 10
P/L BC
5
17 5
16 5
15 5
14 5
13 5
11 5
12 5
0 -5
-10 SP
P/L SC 10 5
17 5
16 5
15 5
14 5
13 5
1 P/L15
-5
12 5
0
-10
P/L SC2
-15 -20 -25 -30 SP
PORTFOLIO 2 1 0
30
5 17
5 16
5 15
5 14
5 13
11
5
-10
5
10 0 12
P/L
17 5
16 5
15 5
14 5
13 5
12 5
20
P/L 11 5
-1 -2 -3 -4 -5
P/L SC2 P/L BC2 PORTFOLI 2
CHART 2
PORTFOLIO 2
-20 -30 -40
SP
SP
3. BUY A PUT OPTION AND SELL A PUT OPTION. LONG POSITION AT LOWERSTRIKE PRICE SHORT POSITION AT HIGHER STRIKE PRICE.SHORT POSITION PREMIUM IS GREATER THEN LONG POSITION PREMIUM
BUY PUT SPOTPRICE 115
STRIKE 150
PREMIUM 7
SELL PUT ACTION ACTION
P/L BP3 28
STRIKE 160
PREMIUM 10
ACTION ACTION
P/L SP3 -35
PORT FOLIO -7
160 160 160 160 160 160 160 160 160 160 160 160
5 5 1 7
5
1 5
1 6
5
5 1 4
5 1 3
5
1 1
1 2
5
0 -10
-7 -7 -7 -7 -7 -7 -7 -2 3 3 3 3
5 1 7
1 5
5
5
1 4
1 1
P/L
5
15
15 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40
5
20 10
-30 -25 -20 -15 -10 -5 0 5 10 10 10 10
P/L SP3
25
P/L SP3
SP
SP
PORTFOLIO3 4 2
5
5 1 7
1 6
5 1 5
5
5
5 1 4
1 3
-2
1 2
1 1
5
0 3OVER ALL
-4 -6 -8 SP
P/L BP3 P/L SP3 PORTFOLIO 3
CHART 3 40
P
-10 -20 -30 -40
SP
175
170
165
160
155
150
145
140
135
130
125
10 0
120
20
115
30
P/L
P/L
P/L
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION N NA NA NA
P/L BP3
30
-5
10 10 10 10 10 10 10 10 10 10 10 10
5
P/L BP3
23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
5
ACTION ACTION ACTION ACTION ACTION ACTION N NA NA NA NA NA
1 6
7 7 7 7 7 7 7 7 7 7 7 7
1 3
150 150 150 150 150 150 150 150 150 150 150 150
1 2
120 125 130 135 140 145 150 155 160 165 170 175
4. BUY A PUT OPTION AND SELL A PUT OPTION. LONG POSITION AT HIGHER STRIKE PRICE SHORT POSITION AT LOWER STRIKE PRICE.SHORT POSITION PREMIUM IS LESSER THEN LONG POSITION PREMIUM BUY PUT SELL PUT P/L OVER SPOTPRICE STRIKE PREMIUM ACTION P/L BP STRIKE PREMIUM ACTION SP ALL 115 160 8 ACTION 37 140 6 ACTION -19 18 120 160 8 ACTION 32 140 6 ACTION -14 18 125 160 8 ACTION 27 140 6 ACTION -9 18 130 160 8 ACTION 22 140 6 ACTION -4 18 135 160 8 ACTION 17 140 6 ACTION 1 18 140 160 8 ACTION 12 140 6 N 6 18 145 160 8 ACTION 7 140 6 NA 6 13 150 160 8 ACTION 2 140 6 NA 6 8 155 160 8 ACTION -3 140 6 NA 6 3 160 160 8 N -8 140 6 NA 6 -2 165 160 8 NA -8 140 6 NA 6 -2 170 160 8 NA -8 140 6 NA 6 -2 175 160 8 NA -8 140 6 NA 6 -2 P/L BP4
P/L SP4
40
10
30
5
5
5 1 7
1 6
5
5
1 5
14
5 13
1 2
5
5
5
-10
P/L SP
-15
1 7
1 6
5
5
1 5
14
5
5
13
-10
12
1 1
5
0
1 1
P/L BP
P/L
P/L
10
-5
5
0
20
-20
-20
-25
SP
SP
CHART4
PORTFOLIO 4 40
20
30 P/L
15
SP
5 17
16 5
5 15
5 14
13
5
-20 -30 SP
17 5
16 5
15 5
14 5
13 5
-10 12 5
-5
P/L SP
0 11 5
0
P/L BP
10
12 5
PORTFOLIO
5
11 5
P/L
20
10
PORTFOLIO 4
5. BUY TWO CALL OPTION AND SELL TWO CALL OPTION. ONE AT LOWER STRIKE PRICE ONE AT HIGHER STRIKE PRICE BUY CALL OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180 185 190
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA NA/A A A A A A A A A A A A A
P/L BUY CO 1 -7 -7 -7 -7 -7 -7 -2 3 8 13 18 23 28 33 38 43 48 53
STRIKE 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170
SELL CALL OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180 185 190
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10
ACTION NA NA NA NA NA NA NA NA NA NA/A A A A A A A A A
P/L SELL CO 1 10 10 10 10 10 10 10 10 10 10 5 0 -5 -10 -15 -20 -25 -30
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
BUY CALL OPTION 2 P/L BUY PREMIUM ACTION CO2 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA -6 6 NA/A -6 6 A -1 6 A 4 6 A 9 6 A 14
SELL CALL OPTION 2 P/L SELL SELL CALL PREMIUM ACTION CO2 P/L 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA 10 20 10 NA/A 10 20 10 A 5 10 10 A 0 0 10 A -5 -10 10 A -10 -20 10 A -15 -30 10 A -20 -40 10 A -25 -50 10 A -30 -60
BUY CALL P/L -13 -13 -13 -13 -13 -13 -8 -3 2 7 12 17 22 27 37 47 57 67
PORTFOLIO5 20 20 20 20 20 20 20 20 20 20 10 0 -10 -20 -30 -40 -50 -60
80 70 60 50 40 30 20 10 0 -10 -20
P/L BUY CO 1 P/L BUY CO2
5 1 8
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
1 0
1 1
5
BUY CALL P/L
5
P/L
BUY 2 CALL OPTION 5
SP
5 1 8
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
5 1 1
5
30 20 10 0 -10 -20 -30 -40 -50 -60 -70
1 0
P/L
SELL CALL OPTION 5
P/L SELL CO 1 P/L SELL CO2 SELL CALL P/L
SP
CHART 5 80 60 20 0
-40 -60 -80 SP
18 5
17 5
16 5
15 5
14 5
13 5
OVER ALL 12 5
-20
BUY CALL P/L 11 5
10 5
P/L
40
SELL CALL P/L
6. BUY TWO PUT OPTION AND SELL TWO PUT OPTION. ONE AT LOWER STRIKE PRICE ONE AT HIGHER STRIKE PRICE
BUY PUT OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
ACTION A A A A A NA/A NA NA NA NA NA NA NA NA NA NA
P/L BUY PO 1 20 15 10 5 0 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5
STRIKE 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170 170
SELL PUT OPTION 1 SPOT 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10
ACTION A A A A A A A A A NA/A NA NA NA NA NA NA
P/L SELL PO 1 -35 -30 -25 -20 -15 -10 -5 0 5 10 10 10 10 10 10 10
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150 150
BUY PUT OPTION 2 P/L BUY PREMIUM ACTION PO2 6 A 59 6 A 54 6 A 49 6 A 44 6 A 39 6 A 34 6 A 29 6 A 24 6 A 19 6 A 14 6 A 9 6 A 4 6 A -1 6 NA/A -6 6 NA -6 6 NA -6 SELL PUT OPTION 2 P/L SELL PREMIUM ACTION PO2 10 A -35 10 A -30 10 A -25 10 A -20 10 A -15 10 A -10 10 A -5 10 A 0 10 A 5 10 NA/A 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10 10 NA 10
BUY PUT P/L 79 69 59 49 39 29 24 19 14 9 4 -1 -6 -11 -11 -11
SELL PUT P/L -70 -60 -50 -40 -30 -20 -10 0 10 20 20 20 20 20 20 20
6 PORT FOLIO 9 9 9 9 9 9 14 19 24 29 24 19 14 9 9 9
BUY 2 PUT 6 100 80 P/L
60
P/L BUY PO 1
40
P/L BUY PO2 BUY PUT P/L
20
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-20
1 1
1 0
5
0
SP
SELL 2 PUT 40 20
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-20
1 1
5 1 0
P/L
0
P/L SELL PO 1 P/L SELL PO2 SELL PUT P/L
-40 -60 -80 SP
CHART 6 100 80 60 BUY PUT P/L
20
SELL PUT P/L
-60 -80 sp
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5
5 1 2
-40
1 1
-20
5
0 1 0
p/l
40
6OVER ALL
7. BUY ONE CALL OPTION AND SELL ONE PUT OPTION. SAME STRKE PRICE SAME STOCK BUY A CALL OPTION STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L BC -7 -7 -7 -7 -2 3 8 13 18 23 28 33 38
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
8 6 4 0
SP
17 5
16 5
15 5
14 5
13 5
-6 -8 -10 SP
17 5
16 5
15 5
13 5
-4
P/L SP 12 5
-2
11 5
P/L BC
P/L
2
12 5
11 5
P/L
45 40 35 30 25 20 15 10 5 0 -5 -10
PORTFOLIO P/L 7 -15 -10 -5 0 5 10 15 20 25 30 35 40 45
P/L SP 7
P/L BC 7
14 5
SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
SELL A PUT OPTION P/L PREMIUM ACTION SP 7 ACTION -8 7 ACTION -3 7 ACTION 2 7 A/NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7 7 NA 7
PORTFOLIO P/L 7 50 40
20 PORTFOLIO P/L 7
10
75 1
65 1
55 1
45 1
35 1
25 1
15
0 -10
1
-20 SP
CHART 7 50 40 30 P/L
P/L BC
20
P/L SP
10
PORTFOLIO P/L 7 5
5
17
16
5
5
15
5
14
5
13
-10
12
5
0 11
P/L
30
-20 SP
8. SELL ONE CALL OPTION AND BUY ONE PUT OPTION. SAME STRKE PRICE SAME STOCK
SELL A CALL OPTION SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION
P/L SC 7 7 7 7 2 -3 -8 -13 -18 -23 -28 -33 -38
STRIKE 130 130 130 130 130 130 130 130 130 130 130 130 130
BUY A PUT OPTION P/L PREMIUM ACTION BP 7 ACTION 8 7 ACTION 3 7 ACTION -2 7 A/NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7 7 NA -7
PORTFOLIO P/L 8 15 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40 -45
P/L SC 8 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40 -45
10 75
6
1
65
4 P/L SC
P/L
1
55 1
45 1
1
35
25 1
15
8
1
2
P/L BP
0 -2
115 120 125 130 135 140 145 150 155 160 165 170 175
-4 -6 -8 SP
SP
OVER ALL 8
PORTFOLIO P/L 8
20
20
10
10
PORTFOLIO P/L 8
-30
1 75
1 55
1 45
1 35
15
25 1
P/L BP
-20
-10 1
P/L
75
P/L SC
1
65 1
45
55 1
1
1
35
0 12 5
15
-10
1
P/L
0
1 65
P/L
P/L BP 8
PORTFOLIO P/L 8
-20 -30
-40
-40
-50
-50
SP
SP
9. TAKE LONG POSITION WITH TWO CALL AND ONE PUT OPTION BUY A CALL OPTION 2 SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION NA NA NA NA NA NA NA NA/A ACTION ACTION ACTION ACTION ACTION
BUY A PUT OPTION P/L BC2 -7 -7 -7 -7 -7 -7 -7 -7 -2 3 8 13 18
P/L BUY 2 CALL -14 -14 -14 -14 -14 -14 -14 -14 -4 6 16 26 36
STRIKE 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION A/NA NA NA NA NA NA
P/L BP 28 23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
ONER ALL P/L 9 14 9 4 -1 -6 -11 -16 -21 -11 -1 9 19 29
P/L BP9 30 25 20 P/L
15 10
P/L BP
5
17 5
16 5
15 5
14 5
13 5
11 5
-5
12 5
0
-10 SP
BUY 2 CALL OPTIONS 9 40 30
P/L
20
P/L BC1
10
P/L BC2 P/L BUY 2 CALL 5 17
5 16
5 15
5 14
5 13
5
11
-10
12
5
0
-20 SP
CHART 9 40
30
30
20
20
17 5
16 5
15 5
PORTFOLIO P/L 9 14 5
-10
-20
P/L BP
0 11 5
17 5
16 5
15 5
14 5
13 5
-10
12 5
0
P/L BUY 2 CALL
10
13 5
PORTFOLIO P/L 9
12 5
10
P/L
40
11 5
P/L
PORTFOLIO P/L 9
-20
-30
-30 SP
SP
10. TAKE LONG POSITION WITH ONE CALL AND TWO PUT OPTION SPOT 115 120 125 130 135
BUY A CALL OPTION STRICK PREMIUM ACTION 150 7 NA 150 7 NA 150 7 NA 150 7 NA 150 7 NA
P/L BC -7 -7 -7 -7 -7
SPOT 115 120 125 130 135
BUY A PUT OPTION 1 STRICK PREMIUM ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION 150 7 ACTION
P/L BP 28 23 18 13 8
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
NA NA NA/A ACTION ACTION ACTION ACTION ACTION
-7 -7 -7 -2 3 8 13 18
140 145 150 155 160 165 170 175
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
ACTION ACTION A/NA NA NA NA NA NA
BUY A PUT OPTION 2 SPOT 115 120 125 130 135 140 145 150 155 160 165 170 175
STRICK 150 150 150 150 150 150 150 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7 7 7 7 7 7 7 7
P/L BP 28 23 18 13 8 3 -2 -7 -7 -7 -7 -7 -7
ACTION ACTION ACTION ACTION ACTION ACTION ACTION ACTION A/NA NA NA NA NA NA
BUY 2 PUT 56 46 36 26 16 6 -4 -14 -14 -14 -14 -14 -14
ONER ALL P/L 9 49 39 29 19 9 -1 -11 -21 -16 -11 -6 -1 4
P/L BC 10 20 15
175
170
165
160
155
150
145
140
-5
135
115
0
130
P/L BC 125
5 120
P/L
10
-10 SP
BYU 2 PUT 10 60 50 40 30
P/L BP
20
P/L BP
10
BUY 2 PUT
-20 SP
5 1 7
5 1 6
5 1 5
5 1 4
5 1 3
5 1 2
-10
5
0 1 1
P/L
140 145 150 155 160 165 170 175
3 -2 -7 -7 -7 -7 -7 -7
PORTFOLIO P/L 10 60 50 40 P/L
30 20
PORTFOLIO P/L 10
10 5 1 7
5 1 6
5 1 5
5 1 4
5
5 1 3
-20
1 2
1 1
5
0 -10 -30 SP
CHART10 60 50 40 P/L
30
P/L BC
20
BUY 2 PUT
10
PORTFOLIO P/L 10 5 1 7
5 16
5 1 5
5 1 4
5
5 1 3
-20
1 2
1 1
-10
5
0
-30 SP
11. BUY ONE CALL OPTION AND SELL ONE PUT OPTION AT DIFFERENT STRIKE PRICE
BUY A CALL OPTION SPOT 115 120 125 130 135
STRICK 150 150 150 150 150
PREMIUM 7 7 7 7 7
ACTION NA NA NA NA NA
P/L BC -7 -7 -7 -7 -7
STRICK 130 130 130 130 130
SELL A PUT OPTION P/L PREMIUM ACTION SP 7 ACTION -8 7 ACTION -3 7 ACTION 2 7 A/NA 7 7 NA 7
PORTFOLIO P/L 11 -15 -10 -5 0 0
140 145 150 155 160 165 170 175
150 150 150 150 150 150 150 150
7 7 7 7 7 7 7 7
NA NA NA/A ACTION ACTION ACTION ACTION ACTION
-7 -7 -7 -2 3 8 13 18
130 130 130 130 130 130 130 130
7 7 7 7 7 7 7 7
NA NA NA NA NA NA NA NA
P/L BC 11 8 6
15
4
10
2
0
175
170
165
160
155
150
145
140
135
130
125
0 -2
120
P/L BC
115
5
P/L
175
170
165
160
155
150
145
140
135
130
125
120
115
-5
-6 -8
-10
-10
SP
SP
CHART 11
P/L BC P/L SP 17 5
15 5
14 5
13 5
PORTFOLIO P/L 11 12 5
30 25 20 15 10 5 0 -5 -10 -15 -20
11 5
17 5
16 5
15 5
14 5
13 5
PORTFOLIO P/L 11 12 5
11 5
30 25 20 15 10 5 0 -5 -10 -15 -20
P/L
PORTFOLIO P/L 11
SP
SP
12. SELL ONE CALL OPTION AND BUY ONE PUT OPTION AT DIFFERENT STRIKE PRICE SELL A CALL OPTION SPOT 115 120 125 130 135 140
P/L SP
-4
16 5
P/L
0 0 0 5 10 15 20 25
P/L SP 11
20
P/L
7 7 7 7 7 7 7 7
STRICK 150 150 150 150 150 150
PREMIUM 7 7 7 7 7 7
ACTION NA NA NA NA NA NA
P/L SC 7 7 7 7 7 7
STRICK 130 130 130 130 130 130
BUY A PUT OPTION P/L PREMIUM ACTION BP 7 ACTION 8 7 ACTION 3 7 ACTION -2 7 A/NA -7 7 NA -7 7 NA -7
PORTFOLIO P/L 8 15 10 5 0 0 0
145 150 155 160 165 170 175
150 150 150 150 150 150 150
7 7 7 7 7 7 7
NA NA/A ACTION ACTION ACTION ACTION ACTION
7 7 2 -3 -8 -13 -18
130 130 130 130 130 130 130
7 7 7 7 7 7 7
P/L SC 12
8 6
0 P/L SC
P/L
175
170
165
160
155
150
145
140
135
130
125
120
4
115
-10
2 0 -2 115 120 125 130 135 140 145 150 155 160 165 170 175
P/L BP
-4
-15
-6
-20
-8
SP
SP
PORTFOLIO P/L 12
20 15 10 5 0 -5 115 120 125 130 135 140 145 150 155 160 165 170 175 -10 -15 -20 -25 -30 SP
CHART 12
PORTFOLIO P/L 8
P/L
P/L
0 0 -5 -10 -15 -20 -25
10
5
P/L
-7 -7 -7 -7 -7 -7 -7
P/L BP 12
10
-5
NA NA NA NA NA NA NA
20 15 10 5 0 -5 -10 -15 -20 -25 -30
P/L SC P/L BP PORTFOLIO P/L 8
115 120 125 130 135 140 145 150 155 160 165 170 175
SP
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