Options and Economics
harrykrish
SampleAssignment2.xlsxQuestion 1 (i)
| Bear Put Spread | Underlying Price | 361.76 | Max Profit | 1160 | ||||||||
| Position | -1 | 1 | Contract Size | 100 | Max Loss | -840 | ||||||
| Call or Put | 2 | 2 | 1 | 1 | Types | Call | ||||||
| Strike Price | 350 | 370 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 21.8 | 30.2 | 8.4 | Chart Start | 330 | 0 | ||||||
| Underliying Price | 361.76 | 361.76 | Chart Increment | 1 | 361.6 | |||||||
| Total | 0 | |||||||||||
| Profit/Loss | 21.8 | -21.96 | -0.16 | Per Share | ||||||||
| Profit/Loss Total | 2180 | -2196 | -16 | Per Contract | ||||||||
| Underlying Price | Short Put | Long Put | Leg 3 | Leg 4 | Total Position | |||||||
| 330 | 180 | 980 | 0 | 0 | 1160 | |||||||
| 331 | 280 | 880 | 0 | 0 | 1160 | |||||||
| 332 | 380 | 780 | 0 | 0 | 1160 | |||||||
| 333 | 480 | 680 | 0 | 0 | 1160 | |||||||
| 334 | 580 | 580 | 0 | 0 | 1160 | |||||||
| 335 | 680 | 480 | 0 | 0 | 1160 | |||||||
| 336 | 780 | 380 | 0 | 0 | 1160 | |||||||
| 337 | 880 | 280 | 0 | 0 | 1160 | |||||||
| 338 | 980 | 180 | 0 | 0 | 1160 | |||||||
| 339 | 1080 | 80 | 0 | 0 | 1160 | |||||||
| 340 | 1180 | -20 | 0 | 0 | 1160 | |||||||
| 341 | 1280 | -120 | 0 | 0 | 1160 | |||||||
| 342 | 1380 | -220 | 0 | 0 | 1160 | |||||||
| 343 | 1480 | -320 | 0 | 0 | 1160 | |||||||
| 344 | 1580 | -420 | 0 | 0 | 1160 | |||||||
| 345 | 1680 | -520 | 0 | 0 | 1160 | |||||||
| 346 | 1780 | -620 | 0 | 0 | 1160 | |||||||
| 347 | 1880 | -720 | 0 | 0 | 1160 | |||||||
| 348 | 1980 | -820 | 0 | 0 | 1160 | |||||||
| 349 | 2080 | -920 | 0 | 0 | 1160 | |||||||
| 350 | 2180 | -1020 | 0 | 0 | 1160 | |||||||
| 351 | 2180 | -1120 | 0 | 0 | 1060 | |||||||
| 352 | 2180 | -1220 | 0 | 0 | 960 | |||||||
| 353 | 2180 | -1320 | 0 | 0 | 860 | |||||||
| 354 | 2180 | -1420 | 0 | 0 | 760 | |||||||
| 355 | 2180 | -1520 | 0 | 0 | 660 | |||||||
| 356 | 2180 | -1620 | 0 | 0 | 560 | |||||||
| 357 | 2180 | -1720 | 0 | 0 | 460 | |||||||
| 358 | 2180 | -1820 | 0 | 0 | 360 | |||||||
| 359 | 2180 | -1920 | 0 | 0 | 260 | |||||||
| 360 | 2180 | -2020 | 0 | 0 | 160 | |||||||
| 361 | 2180 | -2120 | 0 | 0 | 60 | |||||||
| 362 | 2180 | -2220 | 0 | 0 | -40 | |||||||
| 363 | 2180 | -2320 | 0 | 0 | -140 | |||||||
| 364 | 2180 | -2420 | 0 | 0 | -240 | |||||||
| 365 | 2180 | -2520 | 0 | 0 | -340 | |||||||
| 366 | 2180 | -2620 | 0 | 0 | -440 | |||||||
| 367 | 2180 | -2720 | 0 | 0 | -540 | |||||||
| 368 | 2180 | -2820 | 0 | 0 | -640 | |||||||
| 369 | 2180 | -2920 | 0 | 0 | -740 | |||||||
| 370 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 371 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 372 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 373 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 374 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 375 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 376 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 377 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 378 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 379 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 380 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | -32820 | 33980 | 0 | 0 | 1160 | |||||||
| 350 | 2180 | -1020 | 0 | 0 | 1160 | |||||||
| 370 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| 0 | -32820 | 33980 | 0 | 0 | 1160 | |||||||
| 0 | -32820 | 33980 | 0 | 0 | 1160 | |||||||
| 371 | 2180 | -3020 | 0 | 0 | -840 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 350 | 370 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | -32820 | 33980 | 0 | 0 | 1160 | |||||||
| 1 | 0 | -32820 | 33980 | 0 | 0 | 1160 | 0 | |||||
| 2 | 0 | -32820 | 33980 | 0 | 0 | 1160 | 0 | 0 | ||||
| 3 | 350 | 2180 | -1020 | 0 | 0 | 1160 | 0 | 0 | ||||
| 4 | 370 | 2180 | -3020 | 0 | 0 | -840 | 1 | 361.6 | ||||
| 1000000000 | 2180 | -3020 | 0 | 0 | -840 | 0 | 0 | |||||
Bear Put Spread
Short Put 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 180.00000000000006 280.00000000000006 380.00000000000006 480.00000000000006 580.00000000000011 680.00000000000011 780.00000000000011 880.00000000000011 980.00000000000011 1080 1180 1280 1380 1480 1580 1680 1780 1880 1980 2080 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 2180 Long Put 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 980.00000000000011 880.00000000000011 780.00000000000011 680.00000000000011 580.00000000000011 480.00000000000006 380.00000000000006 280. 00000000000006 180.00000000000006 80.000000000000071 -19.999999999999929 -119.99999999999993 -219.99999999999994 -319.99999999999994 -419.99999999999994 -519.99999999999989 -619.99999999999989 -719.99999999999989 -819.99999999999989 -919.99999999999989 -1019.9999999999999 -1120 -1220 -1320 -1420 -1520 -1620 -1720 -1820 -1920 -2020 -2120 -2220 -2320 -2420 -2520 -2620 -2720 -2820 -2920 -3020 -3020 -3020 -3020 -3020 -3020 -3020 -3020 -3020 -3020 -3020 Total Position 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160.0000000000002 1160 1160 1160 1160 1160 1160 1160 1160 1160 1160 1160 1160 1060 960 860 760 660 560 460 360 260 160 60 -40 -140 -240 -340 -440 -540 -640 -740 -840 -840 -840 -840 -840 -840 -840 -840 -840 -840 -840
Question 1 (ii)
| Bull Call Spread | Underlying Price | 361.76 | Max Profit | 680 | ||||||||
| Position | 1 | -1 | 0 | 0 | Contract Size | 100 | Max Loss | -1320 | ||||
| Call or Put | 1 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 350 | 370 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 33.7 | 20.5 | 13.2 | Chart Start | 330 | 0 | ||||||
| Underliying Price | 361.76 | 361.76 | Chart Increment | 2 | 363.2 | |||||||
| Total | 0 | |||||||||||
| Profit/Loss | -21.94 | 20.5 | -1.44 | Per Share | ||||||||
| Profit/Loss Total | -2194 | 2050 | -144 | Per Contract | ||||||||
| Underlying Price | Long Call | Short Call | Leg 3 | Leg 4 | Total Position | |||||||
| 330 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 332 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 334 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 336 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 338 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 340 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 342 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 344 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 346 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 348 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 350 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 352 | -3170 | 2050 | 0 | 0 | -1120 | |||||||
| 354 | -2970 | 2050 | 0 | 0 | -920 | |||||||
| 356 | -2770 | 2050 | 0 | 0 | -720 | |||||||
| 358 | -2570 | 2050 | 0 | 0 | -520 | |||||||
| 360 | -2370 | 2050 | 0 | 0 | -320 | |||||||
| 362 | -2170 | 2050 | 0 | 0 | -120 | |||||||
| 364 | -1970 | 2050 | 0 | 0 | 80 | |||||||
| 366 | -1770 | 2050 | 0 | 0 | 280 | |||||||
| 368 | -1570 | 2050 | 0 | 0 | 480 | |||||||
| 370 | -1370 | 2050 | 0 | 0 | 680 | |||||||
| 372 | -1170 | 1850 | 0 | 0 | 680 | |||||||
| 374 | -970 | 1650 | 0 | 0 | 680 | |||||||
| 376 | -770 | 1450 | 0 | 0 | 680 | |||||||
| 378 | -570 | 1250 | 0 | 0 | 680 | |||||||
| 380 | -370 | 1050 | 0 | 0 | 680 | |||||||
| 382 | -170 | 850 | 0 | 0 | 680 | |||||||
| 384 | 30 | 650 | 0 | 0 | 680 | |||||||
| 386 | 230 | 450 | 0 | 0 | 680 | |||||||
| 388 | 430 | 250 | 0 | 0 | 680 | |||||||
| 390 | 630 | 50 | 0 | 0 | 680 | |||||||
| 392 | 830 | -150 | 0 | 0 | 680 | |||||||
| 394 | 1030 | -350 | 0 | 0 | 680 | |||||||
| 396 | 1230 | -550 | 0 | 0 | 680 | |||||||
| 398 | 1430 | -750 | 0 | 0 | 680 | |||||||
| 400 | 1630 | -950 | 0 | 0 | 680 | |||||||
| 402 | 1830 | -1150 | 0 | 0 | 680 | |||||||
| 404 | 2030 | -1350 | 0 | 0 | 680 | |||||||
| 406 | 2230 | -1550 | 0 | 0 | 680 | |||||||
| 408 | 2430 | -1750 | 0 | 0 | 680 | |||||||
| 410 | 2630 | -1950 | 0 | 0 | 680 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 350 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 370 | -1370 | 2050 | 0 | 0 | 680 | |||||||
| 0 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 0 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 371 | -1270 | 1950 | 0 | 0 | 680 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 350 | 370 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | -3370 | 2050 | 0 | 0 | -1320 | |||||||
| 1 | 0 | -3370 | 2050 | 0 | 0 | -1320 | 0 | |||||
| 2 | 0 | -3370 | 2050 | 0 | 0 | -1320 | 0 | 0 | ||||
| 3 | 350 | -3370 | 2050 | 0 | 0 | -1320 | 0 | 0 | ||||
| 4 | 370 | -1370 | 2050 | 0 | 0 | 680 | 1 | 363.2 | ||||
| 1000000000 | 99999961630 | -99999960950 | 0 | 0 | 680 | 0 | 0 | |||||
Bull Call Spread
Long Call 330 332 334 336 338 340 342 344 346 348 350 352 354 356 358 360 362 364 366 368 370 372 374 376 378 380 382 384 386 388 390 392 394 396 398 400 402 404 406 408 410 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3370.0000000000005 -3170.0000000000005 -2970.0000000000005 -2770.0000000000005 -2570.0000000000005 -2370.0000000000005 -2170.0000000000005 -1970.0000000000002 -1770.0000000000002 -1570.0000000000002 -1370.0000000000002 -1170.0000000000002 -970.00000000000023 -770.00000000000023 -570.00000000000023 -370.00000000000028 -170.00000000000028 29.999999999999716 229.99999999999972 429.99999999999972 629.99999999999977 829.99999999999977 1029.9999999999998 1229.9999999999998 1429.9999999999998 1629.9999999999998 1829.9999999999998 2029.9999999999998 2229.9999999999995 2429.9999999999995 2629.9999999999995 Short Call 330 332 334 336 338 340 342 344 346 348 350 352 354 356 358 360 362 364 366 368 370 372 374 376 378 380 382 384 386 388 390 392 394 396 398 400 402 404 406 408 410 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 2050 1850 1650 1450 1250 1050 850 650 450 250 50 -150 -350 -550 -750 -9 50 -1150 -1350 -1550 -1750 -1950 Total Position 330 332 334 336 338 340 342 344 346 348 350 352 354 356 358 360 362 364 366 368 370 372 374 376 378 380 382 384 386 388 390 392 394 396 398 400 402 404 406 408 410 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1320.0000000000005 -1120.0000000000005 -920.00000000000045 -720.00000000000045 -520.00000000000045 -320.00000000000045 -120.00000000000045 79.999999999999773 279.99999999999977 479.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999977 679.99999999999955 679.99999999999955 679.99999999999955
Question 1 (iii)
| Long Straddle | Underlying Price | 361.76 | Max Profit | Infinite | ||||||||
| Position | 1 | 1 | 0 | 0 | Contract Size | 100 | Max Loss | -5230 | ||||
| Call or Put | 2 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 362.25 | 362.25 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 26.8 | 25.5 | 52.3 | Chart Start | 290 | 309.95 | ||||||
| Underliying Price | 361.76 | 361.76 | Chart Increment | 5 | 0 | |||||||
| Total | 414.55 | |||||||||||
| Profit/Loss | -26.31 | -25.5 | -51.81 | Per Share | ||||||||
| Profit/Loss Total | -2631 | -2550 | -5181 | Per Contract | ||||||||
| Underlying Price | Long Put | Long Call | Leg 3 | Leg 4 | Total Position | |||||||
| 290 | 4545 | -2550 | 0 | 0 | 1995 | |||||||
| 295 | 4045 | -2550 | 0 | 0 | 1495 | |||||||
| 300 | 3545 | -2550 | 0 | 0 | 995 | |||||||
| 305 | 3045 | -2550 | 0 | 0 | 495 | |||||||
| 310 | 2545 | -2550 | 0 | 0 | -5 | |||||||
| 315 | 2045 | -2550 | 0 | 0 | -505 | |||||||
| 320 | 1545 | -2550 | 0 | 0 | -1005 | |||||||
| 325 | 1045 | -2550 | 0 | 0 | -1505 | |||||||
| 330 | 545 | -2550 | 0 | 0 | -2005 | |||||||
| 335 | 45 | -2550 | 0 | 0 | -2505 | |||||||
| 340 | -455 | -2550 | 0 | 0 | -3005 | |||||||
| 345 | -955 | -2550 | 0 | 0 | -3505 | |||||||
| 350 | -1455 | -2550 | 0 | 0 | -4005 | |||||||
| 355 | -1955 | -2550 | 0 | 0 | -4505 | |||||||
| 360 | -2455 | -2550 | 0 | 0 | -5005 | |||||||
| 365 | -2680 | -2275 | 0 | 0 | -4955 | |||||||
| 370 | -2680 | -1775 | 0 | 0 | -4455 | |||||||
| 375 | -2680 | -1275 | 0 | 0 | -3955 | |||||||
| 380 | -2680 | -775 | 0 | 0 | -3455 | |||||||
| 385 | -2680 | -275 | 0 | 0 | -2955 | |||||||
| 390 | -2680 | 225 | 0 | 0 | -2455 | |||||||
| 395 | -2680 | 725 | 0 | 0 | -1955 | |||||||
| 400 | -2680 | 1225 | 0 | 0 | -1455 | |||||||
| 405 | -2680 | 1725 | 0 | 0 | -955 | |||||||
| 410 | -2680 | 2225 | 0 | 0 | -455 | |||||||
| 415 | -2680 | 2725 | 0 | 0 | 45 | |||||||
| 420 | -2680 | 3225 | 0 | 0 | 545 | |||||||
| 425 | -2680 | 3725 | 0 | 0 | 1045 | |||||||
| 430 | -2680 | 4225 | 0 | 0 | 1545 | |||||||
| 435 | -2680 | 4725 | 0 | 0 | 2045 | |||||||
| 440 | -2680 | 5225 | 0 | 0 | 2545 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 33545 | -2550 | 0 | 0 | 30995 | |||||||
| 362.25 | -2680 | -2550 | 0 | 0 | -5230 | |||||||
| 362.25 | -2680 | -2550 | 0 | 0 | -5230 | |||||||
| 0 | 33545 | -2550 | 0 | 0 | 30995 | |||||||
| 0 | 33545 | -2550 | 0 | 0 | 30995 | |||||||
| 363.25 | -2680 | -2450 | 0 | 0 | -5130 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 362.25 | 362.25 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | 33545 | -2550 | 0 | 0 | 30995 | |||||||
| 1 | 0 | 33545 | -2550 | 0 | 0 | 30995 | 0 | |||||
| 2 | 0 | 33545 | -2550 | 0 | 0 | 30995 | 0 | 0 | ||||
| 3 | 362.25 | -2680 | -2550 | 0 | 0 | -5230 | 1 | 309.95 | ||||
| 4 | 362.25 | -2680 | -2550 | 0 | 0 | -5230 | 0 | 0 | ||||
| 1000000000 | -2680 | 99999961225 | 0 | 0 | 99999958545 | 1 | 414.55 |
Long Straddle
Long Put 290 295 300 305 310 315 320 325 330 335 340 345 350 355 360 365 370 375 380 385 390 395 400 405 410 415 420 425 430 435 440 4545 4045.0000000000005 3545.0000000000005 3045 2545 2045 1545 1045 544.99999999999989 44.999999999999929 -455.00000000000006 -955.00000000000011 -1455 -1955 -2455 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 -2680 Long Call 290 295 300 305 310 315 320 325 330 335 340 345 350 355 360 365 370 375 380 385 390 395 400 405 410 415 420 425 430 435 440 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2550 -2275 -1775 -1275 -775 -275 225 725 1225 1725 2225 2725 3225 3725 4225 4725 5225 Total Position 290 295 300 305 310 315 320 325 330 335 340 345 350 355 360 365 370 375 380 385 390 395 400 405 410 415 420 425 430 435 440 1995 1495.0000000000005 995.00000000000045 495 -5 -505 -1005 -1505 -2005 -2505 -3005 -3505 -4005 -4505 -5005 -4955 -4455 -3955 -3455 -2955 -2455 -1955 -1455 -955 -455 45 545 1045 1545 2045 2545
Question 1 (iv)
| Long Strangle | Underlying Price | 361.76 | Max Profit | Infinite | ||||||||
| Position | 1 | 1 | 0 | 0 | Contract Size | 100 | Max Loss | -3965 | ||||
| Call or Put | 2 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 345 | 375 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 20.15 | 19.5 | 39.65 | Chart Start | 280 | 305.35 | ||||||
| Underliying Price | 361.76 | 361.76 | Chart Increment | 4 | 0 | |||||||
| Total | 414.65 | |||||||||||
| Profit/Loss | -20.15 | -19.5 | -39.65 | Per Share | ||||||||
| Profit/Loss Total | -2015 | -1950 | -3965 | Per Contract | ||||||||
| Underlying Price | Long Put | Long Call | Leg 3 | Leg 4 | Total Position | |||||||
| 280 | 4485 | -1950 | 0 | 0 | 2535 | |||||||
| 284 | 4085 | -1950 | 0 | 0 | 2135 | |||||||
| 288 | 3685 | -1950 | 0 | 0 | 1735 | |||||||
| 292 | 3285 | -1950 | 0 | 0 | 1335 | |||||||
| 296 | 2885 | -1950 | 0 | 0 | 935 | |||||||
| 300 | 2485 | -1950 | 0 | 0 | 535 | |||||||
| 304 | 2085 | -1950 | 0 | 0 | 135 | |||||||
| 308 | 1685 | -1950 | 0 | 0 | -265 | |||||||
| 312 | 1285 | -1950 | 0 | 0 | -665 | |||||||
| 316 | 885 | -1950 | 0 | 0 | -1065 | |||||||
| 320 | 485 | -1950 | 0 | 0 | -1465 | |||||||
| 324 | 85 | -1950 | 0 | 0 | -1865 | |||||||
| 328 | -315 | -1950 | 0 | 0 | -2265 | |||||||
| 332 | -715 | -1950 | 0 | 0 | -2665 | |||||||
| 336 | -1115 | -1950 | 0 | 0 | -3065 | |||||||
| 340 | -1515 | -1950 | 0 | 0 | -3465 | |||||||
| 344 | -1915 | -1950 | 0 | 0 | -3865 | |||||||
| 348 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 352 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 356 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 360 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 364 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 368 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 372 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 376 | -2015 | -1850 | 0 | 0 | -3865 | |||||||
| 380 | -2015 | -1450 | 0 | 0 | -3465 | |||||||
| 384 | -2015 | -1050 | 0 | 0 | -3065 | |||||||
| 388 | -2015 | -650 | 0 | 0 | -2665 | |||||||
| 392 | -2015 | -250 | 0 | 0 | -2265 | |||||||
| 396 | -2015 | 150 | 0 | 0 | -1865 | |||||||
| 400 | -2015 | 550 | 0 | 0 | -1465 | |||||||
| 404 | -2015 | 950 | 0 | 0 | -1065 | |||||||
| 408 | -2015 | 1350 | 0 | 0 | -665 | |||||||
| 412 | -2015 | 1750 | 0 | 0 | -265 | |||||||
| 416 | -2015 | 2150 | 0 | 0 | 135 | |||||||
| 420 | -2015 | 2550 | 0 | 0 | 535 | |||||||
| 424 | -2015 | 2950 | 0 | 0 | 935 | |||||||
| 428 | -2015 | 3350 | 0 | 0 | 1335 | |||||||
| 432 | -2015 | 3750 | 0 | 0 | 1735 | |||||||
| 436 | -2015 | 4150 | 0 | 0 | 2135 | |||||||
| 440 | -2015 | 4550 | 0 | 0 | 2535 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 32485 | -1950 | 0 | 0 | 30535 | |||||||
| 345 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 375 | -2015 | -1950 | 0 | 0 | -3965 | |||||||
| 0 | 32485 | -1950 | 0 | 0 | 30535 | |||||||
| 0 | 32485 | -1950 | 0 | 0 | 30535 | |||||||
| 376 | -2015 | -1850 | 0 | 0 | -3865 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 345 | 375 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | 32485 | -1950 | 0 | 0 | 30535 | |||||||
| 1 | 0 | 32485 | -1950 | 0 | 0 | 30535 | 0 | |||||
| 2 | 0 | 32485 | -1950 | 0 | 0 | 30535 | 0 | 0 | ||||
| 3 | 345 | -2015 | -1950 | 0 | 0 | -3965 | 1 | 305.35 | ||||
| 4 | 375 | -2015 | -1950 | 0 | 0 | -3965 | 0 | 0 | ||||
| 1000000000 | -2015 | 99999960550 | 0 | 0 | 99999958535 | 1 | 414.65 | |||||
Long Strangle
Long Put 280 284 288 292 296 300 304 308 312 316 320 324 328 332 336 340 344 348 352 356 360 364 368 372 376 380 384 388 392 396 400 404 408 412 416 420 424 428 432 436 440 4485 4085 3685 3285 2885 2485 2085 1685.0000000000002 1285.0000000000002 885.00000000000011 485.00000000000011 85.000000000000142 -314.99999999999989 -714.99999999999989 -1114.9999999999998 -1514.9999999999998 -1914.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 -2014.9999999999998 Long Call 280 284 288 292 296 300 304 308 312 316 320 324 328 332 336 340 344 348 352 356 360 364 368 372 376 380 384 388 392 396 400 404 408 412 416 420 424 428 432 436 440 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1950 -1850 -1450 -1050 -650 -250 150 550 950 1350 1750 2150 2550 2950 3350 3750 4150 4550 Total Position 280 284 288 292 296 300 304 308 312 316 320 324 328 332 336 340 344 348 352 356 360 364 368 372 376 380 384 388 392 396 400 404 408 412 416 420 424 428 432 436 440 2535 2135 1735 1335 935 535 135 -264.99999999999977 -664.99999999999977 -1065 -1465 -1864.9999999999998 -2265 -2665 -3065 -3465 -3865 -3965 -3965 -3965 -3965 -3965 -3965 -3965 -3865 -3465 -3065 -2665 -2265 -1864.9999999999998 -1464.9999999999998 -1064.9999999999998 -664.99999999999977 -264.99999999999977 135.00000000000023 535.00000000000023 935.00000000000023 1335.0000000000002 1735.0000000000002 2135 2535
Question 3 (i)
| Call Ratio Backspread | Underlying Price | 169.44 | Max Profit | Infinite | ||||||||
| Position | -1 | 2 | 0 | 0 | Contract Size | 100 | Max Loss | -1295 | ||||
| Call or Put | 1 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 165 | 180 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 10.25 | 4.1 | 2.05 | Chart Start | 150 | 0 | ||||||
| Underliying Price | 169.44 | 169.44 | Chart Increment | 2 | 167.05 | |||||||
| Total | 192.95 | |||||||||||
| Profit/Loss | 5.81 | -4.1 | 1.71 | Per Share | ||||||||
| Profit/Loss Total | 581 | -820 | -239 | Per Contract | ||||||||
| Underlying Price | Short Call | Long Call | Leg 3 | Leg 4 | Total Position | |||||||
| 150 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 152 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 154 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 156 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 158 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 160 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 162 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 164 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 166 | 925 | -820 | 0 | 0 | 105 | |||||||
| 168 | 725 | -820 | 0 | 0 | -95 | |||||||
| 170 | 525 | -820 | 0 | 0 | -295 | |||||||
| 172 | 325 | -820 | 0 | 0 | -495 | |||||||
| 174 | 125 | -820 | 0 | 0 | -695 | |||||||
| 176 | -75 | -820 | 0 | 0 | -895 | |||||||
| 178 | -275 | -820 | 0 | 0 | -1095 | |||||||
| 180 | -475 | -820 | 0 | 0 | -1295 | |||||||
| 182 | -675 | -420 | 0 | 0 | -1095 | |||||||
| 184 | -875 | -20 | 0 | 0 | -895 | |||||||
| 186 | -1075 | 380 | 0 | 0 | -695 | |||||||
| 188 | -1275 | 780 | 0 | 0 | -495 | |||||||
| 190 | -1475 | 1180 | 0 | 0 | -295 | |||||||
| 192 | -1675 | 1580 | 0 | 0 | -95 | |||||||
| 194 | -1875 | 1980 | 0 | 0 | 105 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 165 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 180 | -475 | -820 | 0 | 0 | -1295 | |||||||
| 0 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 0 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 181 | -575 | -620 | 0 | 0 | -1195 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 165 | 180 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | 1025 | -820 | 0 | 0 | 205 | |||||||
| 1 | 0 | 1025 | -820 | 0 | 0 | 205 | 0 | |||||
| 2 | 0 | 1025 | -820 | 0 | 0 | 205 | 0 | 0 | ||||
| 3 | 165 | 1025 | -820 | 0 | 0 | 205 | 0 | 0 | ||||
| 4 | 180 | -475 | -820 | 0 | 0 | -1295 | 1 | 167.05 | ||||
| 1000000000 | -99999982475 | 199999963180 | 0 | 0 | 99999980705 | 1 | 192.95 |
Call Ratio Backspread
Short Call 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 1025 1025 1025 1025 1025 1025 1025 1025 925 725 525 325 125 -75 -275 -475 -675 -875 -1075 -1275 -1475 -1675 -1875 Long Call 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -819.99999999999989 -419.99999999999994 -19.999999999999929 380.00000000000006 780.00000000000011 1180 1580 1980 Total Position 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 205.00000000000011 205.00000000000011 205.00000000000011 205.00000000000011 205.00000000000011 205.00000000000011 205.00000000000011 205.00000000000011 105.00000000000011 -94.999999999999886 -294.99999999999989 -494.99999999999989 -694.99999999999989 -894.99999999999989 -1095 -1295 -1095 -894.99999999999989 -695 -494.99999999999989 -295 -95 105
Question 3 (ii)
| Iron Butterfly | Underlying Price | 169.44 | Max Profit | 603 | ||||||||
| Position | 1 | -1 | -1 | 1 | Contract Size | 100 | Max Loss | -897 | ||||
| Call or Put | 2 | 2 | 1 | 1 | Types | Call | ||||||
| Strike Price | 155 | 170 | 170 | 185 | Net Premium | Put | Breakeven | 163.97 | ||||
| Initial Price | 4.7 | 7.9 | 5.5 | 2.67 | 6.03 | Chart Start | 150 | 0 | ||||
| Underliying Price | 169.44 | 169.44 | 169.44 | 169.44 | Chart Increment | 1 | 176.03 | |||||
| Total | 0 | |||||||||||
| Profit/Loss | -4.7 | 7.34 | 5.5 | -2.67 | 5.47 | Per Share | ||||||
| Profit/Loss Total | -470 | 734 | 550 | -267 | 547 | Per Contract | ||||||
| Underlying Price | Long Put | Short Put | Short Call | Long Put | Total Position | |||||||
| 150 | 30 | -1210 | 550 | -267 | -897 | |||||||
| 151 | -70 | -1110 | 550 | -267 | -897 | |||||||
| 152 | -170 | -1010 | 550 | -267 | -897 | |||||||
| 153 | -270 | -910 | 550 | -267 | -897 | |||||||
| 154 | -370 | -810 | 550 | -267 | -897 | |||||||
| 155 | -470 | -710 | 550 | -267 | -897 | |||||||
| 156 | -470 | -610 | 550 | -267 | -797 | |||||||
| 157 | -470 | -510 | 550 | -267 | -697 | |||||||
| 158 | -470 | -410 | 550 | -267 | -597 | |||||||
| 159 | -470 | -310 | 550 | -267 | -497 | |||||||
| 160 | -470 | -210 | 550 | -267 | -397 | |||||||
| 161 | -470 | -110 | 550 | -267 | -297 | |||||||
| 162 | -470 | -10 | 550 | -267 | -197 | |||||||
| 163 | -470 | 90 | 550 | -267 | -97 | |||||||
| 164 | -470 | 190 | 550 | -267 | 3 | |||||||
| 165 | -470 | 290 | 550 | -267 | 103 | |||||||
| 166 | -470 | 390 | 550 | -267 | 203 | |||||||
| 167 | -470 | 490 | 550 | -267 | 303 | |||||||
| 168 | -470 | 590 | 550 | -267 | 403 | |||||||
| 169 | -470 | 690 | 550 | -267 | 503 | |||||||
| 170 | -470 | 790 | 550 | -267 | 603 | |||||||
| 171 | -470 | 790 | 450 | -267 | 503 | |||||||
| 172 | -470 | 790 | 350 | -267 | 403 | |||||||
| 173 | -470 | 790 | 250 | -267 | 303 | |||||||
| 174 | -470 | 790 | 150 | -267 | 203 | |||||||
| 175 | -470 | 790 | 50 | -267 | 103 | |||||||
| 176 | -470 | 790 | -50 | -267 | 3 | |||||||
| 177 | -470 | 790 | -150 | -267 | -97 | |||||||
| 178 | -470 | 790 | -250 | -267 | -197 | |||||||
| 179 | -470 | 790 | -350 | -267 | -297 | |||||||
| 180 | -470 | 790 | -450 | -267 | -397 | |||||||
| 181 | -470 | 790 | -550 | -267 | -497 | |||||||
| 182 | -470 | 790 | -650 | -267 | -597 | |||||||
| 183 | -470 | 790 | -750 | -267 | -697 | |||||||
| 184 | -470 | 790 | -850 | -267 | -797 | |||||||
| 185 | -470 | 790 | -950 | -267 | -897 | |||||||
| 186 | -470 | 790 | -1050 | -167 | -897 | |||||||
| 187 | -470 | 790 | -1150 | -67 | -897 | |||||||
| 188 | -470 | 790 | -1250 | 33 | -897 | |||||||
| 189 | -470 | 790 | -1350 | 133 | -897 | |||||||
| 190 | -470 | 790 | -1450 | 233 | -897 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 15030 | -16210 | 550 | -267 | -897 | |||||||
| 155 | -470 | -710 | 550 | -267 | -897 | |||||||
| 170 | -470 | 790 | 550 | -267 | 603 | |||||||
| 170 | -470 | 790 | 550 | -267 | 603 | |||||||
| 185 | -470 | 790 | -950 | -267 | -897 | |||||||
| 186 | -470 | 790 | -1050 | -167 | -897 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 155 | 170 | 170 | 185 | ||||||||
| Strike Rank | 1 | 2 | 3 | 4 | ||||||||
| 0 | 15030 | -16210 | 550 | -267 | -897 | |||||||
| 1 | 155 | -470 | -710 | 550 | -267 | -897 | 0 | |||||
| 2 | 170 | -470 | 790 | 550 | -267 | 603 | 1 | 163.97 | ||||
| 3 | 170 | -470 | 790 | 550 | -267 | 603 | 0 | 0 | ||||
| 4 | 185 | -470 | 790 | -950 | -267 | -897 | 1 | 176.03 | ||||
| 1000000000 | -470 | 790 | -99999982450 | 99999981233 | -897 | 0 | 0 |
Iron Butterfly
Long Put 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 29.999999999999982 -70.000000000000014 -170.00000000000003 -270 -370 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 Short Put 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 -1210 -1110 -1010 -910 -810 -710 -610 -509.99999999999994 -409.99999999999994 -309.99999999999994 -209.99999999999997 -109.99999999999997 -9.9999999999999645 90.000000000000028 190.00000000000003 290.00000000000006 390.00000000000006 490.00000000000006 590 690 790 790 790 790 790 790 790 790 790 790 79 0 790 790 790 790 790 790 790 790 790 790 Short Call 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 550 450 350 250 150 50 -50 -150 -250 -350 -450 -550 -650 -750 -850 -950 -1050 -1150 -1250 -1350 -1450 Long Put 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -267 -167 -67 33.000000000000007 133 233 Total Position 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 -897 -897 -897 -897 -897 -897 -797 -697 -597 -497 -397 -297 -196.99999999999994 -97 3 103.00000000000006 203.00000000000006 303 403 503 603 503 403 303 203 103 3 -97 -197 -297 -397 -497 -597 -697 -797 -897 -897 -897 -897 -897 -897
Question 3 (iii)
| Short Condor (Puts) | Underlying Price | 185 | Max Profit | 625 | ||||||||
| Position | -1 | 1 | 1 | -1 | Contract Size | 100 | Max Loss | -875 | ||||
| Call or Put | 2 | 2 | 2 | 2 | Types | Call | ||||||
| Strike Price | 140 | 155 | 185 | 200 | Net Premium | Put | Breakeven | 146.25 | ||||
| Initial Price | 0.95 | 4.7 | 18.5 | 28.5 | 6.25 | Chart Start | 120 | 0 | ||||
| Underliying Price | 185 | 185 | 185 | 185 | Chart Increment | 2 | 193.75 | |||||
| Total | 0 | |||||||||||
| Profit/Loss | 0.95 | -4.7 | -18.5 | 13.5 | -8.75 | Per Share | ||||||
| Profit/Loss Total | 95 | -470 | -1850 | 1350 | -875 | Per Contrcat | ||||||
| Underlying Price | Short Put | Long Put | Long Put | Short Put | Total Position | |||||||
| 120 | -1905 | 3030 | 4650 | -5150 | 625 | |||||||
| 122 | -1705 | 2830 | 4450 | -4950 | 625 | |||||||
| 124 | -1505 | 2630 | 4250 | -4750 | 625 | |||||||
| 126 | -1305 | 2430 | 4050 | -4550 | 625 | |||||||
| 128 | -1105 | 2230 | 3850 | -4350 | 625 | |||||||
| 130 | -905 | 2030 | 3650 | -4150 | 625 | |||||||
| 132 | -705 | 1830 | 3450 | -3950 | 625 | |||||||
| 134 | -505 | 1630 | 3250 | -3750 | 625 | |||||||
| 136 | -305 | 1430 | 3050 | -3550 | 625 | |||||||
| 138 | -105 | 1230 | 2850 | -3350 | 625 | |||||||
| 140 | 95 | 1030 | 2650 | -3150 | 625 | |||||||
| 142 | 95 | 830 | 2450 | -2950 | 425 | |||||||
| 144 | 95 | 630 | 2250 | -2750 | 225 | |||||||
| 146 | 95 | 430 | 2050 | -2550 | 25 | |||||||
| 148 | 95 | 230 | 1850 | -2350 | -175 | |||||||
| 150 | 95 | 30 | 1650 | -2150 | -375 | |||||||
| 152 | 95 | -170 | 1450 | -1950 | -575 | |||||||
| 154 | 95 | -370 | 1250 | -1750 | -775 | |||||||
| 156 | 95 | -470 | 1050 | -1550 | -875 | |||||||
| 158 | 95 | -470 | 850 | -1350 | -875 | |||||||
| 160 | 95 | -470 | 650 | -1150 | -875 | |||||||
| 162 | 95 | -470 | 450 | -950 | -875 | |||||||
| 164 | 95 | -470 | 250 | -750 | -875 | |||||||
| 166 | 95 | -470 | 50 | -550 | -875 | |||||||
| 168 | 95 | -470 | -150 | -350 | -875 | |||||||
| 170 | 95 | -470 | -350 | -150 | -875 | |||||||
| 172 | 95 | -470 | -550 | 50 | -875 | |||||||
| 174 | 95 | -470 | -750 | 250 | -875 | |||||||
| 176 | 95 | -470 | -950 | 450 | -875 | |||||||
| 178 | 95 | -470 | -1150 | 650 | -875 | |||||||
| 180 | 95 | -470 | -1350 | 850 | -875 | |||||||
| 182 | 95 | -470 | -1550 | 1050 | -875 | |||||||
| 184 | 95 | -470 | -1750 | 1250 | -875 | |||||||
| 186 | 95 | -470 | -1850 | 1450 | -775 | |||||||
| 188 | 95 | -470 | -1850 | 1650 | -575 | |||||||
| 190 | 95 | -470 | -1850 | 1850 | -375 | |||||||
| 192 | 95 | -470 | -1850 | 2050 | -175 | |||||||
| 194 | 95 | -470 | -1850 | 2250 | 25 | |||||||
| 196 | 95 | -470 | -1850 | 2450 | 225 | |||||||
| 198 | 95 | -470 | -1850 | 2650 | 425 | |||||||
| 200 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 202 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 204 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 206 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 208 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 210 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 212 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 214 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 216 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 218 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 220 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | -13905 | 15030 | 16650 | -17150 | 625 | |||||||
| 140 | 95 | 1030 | 2650 | -3150 | 625 | |||||||
| 155 | 95 | -470 | 1150 | -1650 | -875 | |||||||
| 185 | 95 | -470 | -1850 | 1350 | -875 | |||||||
| 200 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| 201 | 95 | -470 | -1850 | 2850 | 625 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 140 | 155 | 185 | 200 | ||||||||
| Strike Rank | 1 | 2 | 3 | 4 | ||||||||
| 0 | -13905 | 15030 | 16650 | -17150 | 625 | |||||||
| 1 | 140 | 95 | 1030 | 2650 | -3150 | 625 | 0 | |||||
| 2 | 155 | 95 | -470 | 1150 | -1650 | -875 | 1 | 146.25 | ||||
| 3 | 185 | 95 | -470 | -1850 | 1350 | -875 | 0 | 0 | ||||
| 4 | 200 | 95 | -470 | -1850 | 2850 | 625 | 1 | 193.75 | ||||
| 1000000000 | 95 | -470 | -1850 | 2850 | 625 | 0 | 0 |
Short Condor w/ Puts
Short Put 120 122 124 126 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 196 198 200 202 204 206 208 210 212 214 216 218 220 -1905 -1705 -1505 -1305 -1105 -905.00000000000011 -705 -505 -305 -105 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 95 Long Put 120 122 124 126 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 196 198 200 202 204 206 208 210 212 214 216 218 220 3030 2830 2630 2430 2230 2030 1830 163 0 1430 1230 1030 830.00000000000011 630 430 229.99999999999997 29.999999999999982 -170.00000000000003 -370 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 -470 Long Put 120 122 124 126 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 196 198 200 202 204 206 208 210 212 214 216 218 220 4650 4450 4250 4050 3850 3650 3450 3250 3050 2850 2650 2450 2250 2050 1850 1650 1450 1250 1050 850 650 450 250 50 -150 -350 -550 -750 -950 -1150 -1350 -1550 -1750 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 -1850 Short Put 120 122 124 126 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 196 198 200 202 204 206 208 210 212 214 216 218 220 -5150 -4950 -4750 -4550 -4350 -4150 -3950 -3750 -3550 -3350 -3150 -2950 -2750 -2550 -2350 -2150 -1950 -1750 -1550 -1350 -1150 -950 -750 -550 -350 -150 50 250 450 650 850 1050 1250 1450 1650 1850 2050 2250 2450 2650 2850 2850 2850 2850 2850 2850 2850 2850 2850 2850 2850 Total Position 120 122 124 126 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 158 160 162 164 166 168 170 172 174 176 178 180 182 184 186 188 190 192 194 196 198 200 202 204 206 208 210 212 214 216 218 220 625 625 625 625 625 625 625 625 625 625 625 425 225 25 -175 -375 -575 -775 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -875 -775 -575 -375 -175 25 225 425 625 625 625 625 625 625 625 625 625 625 625
Question 5 (i)
| Long Strangle | Underlying Price | 24.93 | Max Profit | Infinite | ||||||||
| Position | 1 | 1 | 0 | 0 | Contract Size | 100 | Max Loss | -69 | ||||
| Call or Put | 2 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 24 | 26 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 0.44 | 0.25 | 0.69 | Chart Start | 22 | 23.31 | ||||||
| Underliying Price | 24.93 | 24.93 | Chart Increment | 0.5 | 0 | |||||||
| Total | 26.69 | |||||||||||
| Profit/Loss | -0.44 | -0.25 | -0.69 | Per Share | ||||||||
| Profit/Loss Total | -44 | -25 | -69 | Per Contract | ||||||||
| Underlying Price | Long Put | Long Call | Leg 3 | Leg 4 | Total Position | |||||||
| 22 | 156 | -25 | 0 | 0 | 131 | |||||||
| 22.5 | 106 | -25 | 0 | 0 | 81 | |||||||
| 23 | 56 | -25 | 0 | 0 | 31 | |||||||
| 23.5 | 6 | -25 | 0 | 0 | -19 | |||||||
| 24 | -44 | -25 | 0 | 0 | -69 | |||||||
| 24.5 | -44 | -25 | 0 | 0 | -69 | |||||||
| 25 | -44 | -25 | 0 | 0 | -69 | |||||||
| 25.5 | -44 | -25 | 0 | 0 | -69 | |||||||
| 26 | -44 | -25 | 0 | 0 | -69 | |||||||
| 26.5 | -44 | 25 | 0 | 0 | -19 | |||||||
| 27 | -44 | 75 | 0 | 0 | 31 | |||||||
| 27.5 | -44 | 125 | 0 | 0 | 81 | |||||||
| 28 | -44 | 175 | 0 | 0 | 131 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 2356 | -25 | 0 | 0 | 2331 | |||||||
| 24 | -44 | -25 | 0 | 0 | -69 | |||||||
| 26 | -44 | -25 | 0 | 0 | -69 | |||||||
| 0 | 2356 | -25 | 0 | 0 | 2331 | |||||||
| 0 | 2356 | -25 | 0 | 0 | 2331 | |||||||
| 27 | -44 | 75 | 0 | 0 | 31 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 24 | 26 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | 2356 | -25 | 0 | 0 | 2331 | |||||||
| 1 | 0 | 2356 | -25 | 0 | 0 | 2331 | 0 | |||||
| 2 | 0 | 2356 | -25 | 0 | 0 | 2331 | 0 | 0 | ||||
| 3 | 24 | -44 | -25 | 0 | 0 | -69 | 1 | 23.31 | ||||
| 4 | 26 | -44 | -25 | 0 | 0 | -69 | 0 | 0 | ||||
| 1000000000 | -44 | 99999997375 | 0 | 0 | 99999997331 | 1 | 26.69 |
Long Strangle
Long Put 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 156 106 56.000000000000007 6 -44 -44 -44 -44 -44 -44 -44 -44 -44 Long Call 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 -25 -25 -25 -25 -25 -25 -25 -25 -25 25 75 125 175 Total Position 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 131 81 31.000000000000007 -19 -69 -69 -69 -69 -69 -19 31 81 131
Question 5 (ii)
| Strip | Underlying Price | 24.93 | Max Profit | Infinite | ||||||||
| Position | 1 | 2 | 0 | 0 | Contract Size | 100 | Max Loss | -251 | ||||
| Call or Put | 1 | 2 | 2 | 1 | Types | Call | ||||||
| Strike Price | 25 | 25 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 0.61 | 0.95 | 2.51 | Chart Start | 21.5 | 23.745 | ||||||
| Underliying Price | 24.93 | 24.93 | Chart Increment | 0.5 | 0 | |||||||
| Total | 27.51 | |||||||||||
| Profit/Loss | -0.61 | -0.88 | -1.49 | Per Share | ||||||||
| Profit/Loss Total | -61 | -176 | -237 | Per Contract | ||||||||
| Underlying Price | Long Call | Long Put | Leg 3 | Leg 4 | Total Position | |||||||
| 21.5 | -61 | 510 | 0 | 0 | 449 | |||||||
| 22 | -61 | 410 | 0 | 0 | 349 | |||||||
| 22.5 | -61 | 310 | 0 | 0 | 249 | |||||||
| 23 | -61 | 210 | 0 | 0 | 149 | |||||||
| 23.5 | -61 | 110 | 0 | 0 | 49 | |||||||
| 24 | -61 | 10 | 0 | 0 | -51 | |||||||
| 24.5 | -61 | -90 | 0 | 0 | -151 | |||||||
| 25 | -61 | -190 | 0 | 0 | -251 | |||||||
| 25.5 | -11 | -190 | 0 | 0 | -201 | |||||||
| 26 | 39 | -190 | 0 | 0 | -151 | |||||||
| 26.5 | 89 | -190 | 0 | 0 | -101 | |||||||
| 27 | 139 | -190 | 0 | 0 | -51 | |||||||
| 27.5 | 189 | -190 | 0 | 0 | -1 | |||||||
| 28 | 239 | -190 | 0 | 0 | 49 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | -61 | 4810 | 0 | 0 | 4749 | |||||||
| 25 | -61 | -190 | 0 | 0 | -251 | |||||||
| 25 | -61 | -190 | 0 | 0 | -251 | |||||||
| 0 | -61 | 4810 | 0 | 0 | 4749 | |||||||
| 0 | -61 | 4810 | 0 | 0 | 4749 | |||||||
| 26 | 39 | -190 | 0 | 0 | -151 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 25 | 25 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | -61 | 4810 | 0 | 0 | 4749 | |||||||
| 1 | 0 | -61 | 4810 | 0 | 0 | 4749 | 0 | |||||
| 2 | 0 | -61 | 4810 | 0 | 0 | 4749 | 0 | 0 | ||||
| 3 | 25 | -61 | -190 | 0 | 0 | -251 | 1 | 23.745 | ||||
| 4 | 25 | -61 | -190 | 0 | 0 | -251 | 0 | 0 | ||||
| 1000000000 | 99999997439 | -190 | 0 | 0 | 99999997249 | 1 | 27.51 | |||||
Strip
Long Call 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 -61 -61 -61 -61 -61 -61 -61 -61 -10.999999999999998 39 89 139 189 239 Long Put 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 509.99999999999994 409.99999999999994 310 210 110.00000000000001 10.000000000000009 -89.999999999999986 -190 -190 -190 -190 -190 -190 -190 Total Position 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 448.99999999999994 348.99999999999994 249 149 49.000000000000014 -50.999999999999993 -151 -251 -201 -151 -101 -51 -1 49
Question 5 (iii)
| Long Straddle | Underlying Price | 24.93 | Max Profit | Infinite | ||||||||
| Position | 1 | 1 | 0 | 0 | Contract Size | 100 | Max Loss | -156 | ||||
| Call or Put | 2 | 1 | 1 | 1 | Types | Call | ||||||
| Strike Price | 25 | 25 | Net Premium | Put | Breakeven | 0 | ||||||
| Initial Price | 0.95 | 0.61 | 1.56 | Chart Start | 20 | 23.44 | ||||||
| Underliying Price | 24.93 | 24.93 | Chart Increment | 0.5 | 0 | |||||||
| Total | 26.56 | |||||||||||
| Profit/Loss | -0.88 | -0.61 | -1.49 | Per Share | ||||||||
| Profit/Loss Total | -88 | -61 | -149 | Per Contract | ||||||||
| Underlying Price | Long Put | Long Call | Leg 3 | Leg 4 | Total Position | |||||||
| 20 | 405 | -61 | 0 | 0 | 344 | |||||||
| 20.5 | 355 | -61 | 0 | 0 | 294 | |||||||
| 21 | 305 | -61 | 0 | 0 | 244 | |||||||
| 21.5 | 255 | -61 | 0 | 0 | 194 | |||||||
| 22 | 205 | -61 | 0 | 0 | 144 | |||||||
| 22.5 | 155 | -61 | 0 | 0 | 94 | |||||||
| 23 | 105 | -61 | 0 | 0 | 44 | |||||||
| 23.5 | 55 | -61 | 0 | 0 | -6 | |||||||
| 24 | 5 | -61 | 0 | 0 | -56 | |||||||
| 24.5 | -45 | -61 | 0 | 0 | -106 | |||||||
| 25 | -95 | -61 | 0 | 0 | -156 | |||||||
| 25.5 | -95 | -11 | 0 | 0 | -106 | |||||||
| 26 | -95 | 39 | 0 | 0 | -56 | |||||||
| 26.5 | -95 | 89 | 0 | 0 | -6 | |||||||
| 27 | -95 | 139 | 0 | 0 | 44 | |||||||
| 27.5 | -95 | 189 | 0 | 0 | 94 | |||||||
| 28 | -95 | 239 | 0 | 0 | 144 | |||||||
| 28.5 | -95 | 289 | 0 | 0 | 194 | |||||||
| 29 | -95 | 339 | 0 | 0 | 244 | |||||||
| 29.5 | -95 | 389 | 0 | 0 | 294 | |||||||
| 30 | -95 | 439 | 0 | 0 | 344 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | |||||||
| 0 | 2405 | -61 | 0 | 0 | 2344 | |||||||
| 25 | -95 | -61 | 0 | 0 | -156 | |||||||
| 25 | -95 | -61 | 0 | 0 | -156 | |||||||
| 0 | 2405 | -61 | 0 | 0 | 2344 | |||||||
| 0 | 2405 | -61 | 0 | 0 | 2344 | |||||||
| 26 | -95 | 39 | 0 | 0 | -56 | |||||||
| Underlying Price | Leg 1 | Leg 2 | Leg 3 | Leg 4 | Total | B/E? | B/E Spot Price | |||||
| Strike | 25 | 25 | 0 | 0 | ||||||||
| Strike Rank | 3 | 4 | 1 | 2 | ||||||||
| 0 | 2405 | -61 | 0 | 0 | 2344 | |||||||
| 1 | 0 | 2405 | -61 | 0 | 0 | 2344 | 0 | |||||
| 2 | 0 | 2405 | -61 | 0 | 0 | 2344 | 0 | 0 | ||||
| 3 | 25 | -95 | -61 | 0 | 0 | -156 | 1 | 23.44 | ||||
| 4 | 25 | -95 | -61 | 0 | 0 | -156 | 0 | 0 | ||||
| 1000000000 | -95 | 99999997439 | 0 | 0 | 99999997344 | 1 | 26.56 |
Long Straddle
Long Put 20 20.5 21 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 28.5 29 29.5 30 405 355 305 254.99999999999997 204.99999999999997 155 105 55.000000000000007 5.0000000000000044 -44.999999999999993 -95 -95 -95 -95 -95 -95 -95 -95 -95 -95 -95 Long Call 20 20.5 21 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 28.5 29 29.5 30 -61 -61 -61 -61 -61 -61 -61 -61 -61 -61 -61 -10.999999999999998 39 89 139 189 239 289 339 389 438.99999999999994 Total Position 20 20.5 21 21.5 22 22.5 23 23.5 24 24.5 25 25.5 26 26.5 27 27.5 28 28.5 29 29.5 30 344 294 244 193.99999999999997 143.99999999999997 94 44 -5.9999999999999929 -55.999999999999993 -106 -156 -106 -56 -6 44 94 144 194 244 294 343.99999999999994
