3 a 13 Optiontradingstrategies v1.Xls

8/10/2019 3 a 13 Optiontradingstrategies v1.Xls

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CoveredCall_BullSpread

Page 2

.t + , $1 %*Secon*

*1 0(3*2 0(10call +c, $1

.t + , $1 %* ! ir*

*1 -0(3) 1*2 +0(60,call +c, $* +&

.t + , $% &

$17 $18 $19 $20 $21($6.00)

($4.00)

($2.00)

$0.00

$2.00

$4.00

.

Sto ! "pt#o (%#r&t o l')

($3.01) Strateg' Pa'o


3/36


Page 3

gies, but Strike Price Varies)

$1 $1) $20 $21 $22 $23 $24 $25-2 -1 0 1 2 3 4 5

e iu )0 0 0 -1 -2 -3 -4 -5

e iu )0 0 0 1 2 3 4 5

e iu )0 0 0 0 0 0 -1 -2

$1()) $1()) $1()) $0()) +$0(01, +$1(01, +$2(01, +$3(01,+$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$0( 3 $0( 3 $0( 3 $0( 3 $0( 3 $0( 3 +$0(17, +$1(17,

-2 -1 0 1 2 3 4 5$1()) $1()) $1()) $0()) +$0(01, +$1(01, +$2(01, +$3(01,

+$0(01, $0()) $1()) $1()) $1()) $1()) $1()) $1())

+$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$0( 3 $0( 3 $0( 3 $0( 3 $0( 3 $0( 3 +$0(17, +$1(17,

+$1(15, +$1(15, +$1(15, +$0(15, $0( 5 $1( 5 $1( 5 $1( 5

art !itle


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Page 4

$22 $23 $24 $25

5 $1.99 $17 $18 $19 $2($3.00)

($2.00)

($1.00)

$0.00

$1.00

$2.00

$3.00

$4.00

"pt#o (Se o d)

$0.83


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Page 5

C art !itle


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Page 6

0 $21 $22 $23 $24 $25

"pt#o (*+#rd) ($1.99)

($1.15) Strateg' Pa'o


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Prote t#vePut_BearSpread

Page 7

Contant Inputs (For Modeling purposes, Stock Price is Constant forStock 20Volatility 20%Riskless rate 4%

Future Stock PricStock Price Long $15 $16

20 1 -5 -4

Strike P.t Long !i"e ption Pa!o" (#r1st ption 20 0 1 1 5 4

Strike P.t Long !i"e ption Pa!o" (#r%nd ption 23 0 1 1 7

7Strike P.t S ort !i"e ption Pa!o" (#r

&rd ption 20 0 0 1 -5 -4

ption Pre iu s (calculated belo #et tion Payo&s'irst ($1 %*) $3( 0 $2( 0Secon* ($% &) $5(07 $4(07

! ir* $1 %* +$3( 0, +$2( 0,

rading Strategies

Stock -5 -4tion +'irst only, $3( 0 $2( 0

Strategy Payo& +$1(20, +$1(20,

tion +Secon*, $5(07 $4(07tion +! ir*, +$3( 0, +$2( 0,

Strategy Payo& $1(27 $1(27

'irst*1 0(3*2 0(10call +c, $1


8/36


Page 8

.t + , $1 %*Secon*

*1 -0(3) 1*2 +0(60,call +c, $* +&

.t + , $% & ! ir*

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

$17 $18 $19 $20($6.00)

($4.00)

($2.00)

$0.00

$2.00

$4.00

$6.00

Sto ! "pt#o (%#r

($1.20) Strateg' Pa


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Page 9

ll Strategies, but Strike Price Varies)

e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )3 2 1 0 0 0 0 0 0

oss of Pre iu )6 5 4 3 2 1 0 0 06 5 4 3 2 1 0 0 0

oss of Pre iu )-3 -2 -1 0 0 0 0 0 0

$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,$3(07 $2(07 $1(07 $0(07 +$0()3, +$1()3, +$2()3, +$2()3, +$2()3,

+$1( 0, +$0( 0, $0(20 $1(20 $1(20 $1(20 $1(20 $1(20 $1(20

-3 -2 -1 0 1 2 3 4 5$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$1(20, +$1(20, +$1(20, +$1(20, +$0(20, $0( 0 $1( 0 $2( 0 $3( 0

$3(07 $2(07 $1(07 $0(07 +$0()3, +$1()3, +$2()3, +$2()3, +$2()3,+$1( 0, +$0( 0, $0(20 $1(20 $1(20 $1(20 $1(20 $1(20 $1(20$1(27 $1(27 $1(27 $1(27 $0(27 +$0(73, +$1(73, +$1(73, +$1(73,

C art !itle


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Page 10

$21 $22 $23 $24 $25

t o l ') 5 $3.80

'o

$17 $18($4.00)($3.00)($2.00)($1.00)$0.00

$1.00$2.00$3.00$4.00$5.00

"pt#

$1.2


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Page 12

$19 $20 $21 $22 $23 $24 $25

(Se o d) "pt#o (*+#rd) $5.07 ($3.80)

Strateg' Pa'o


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Butter l'Spread

Page 13

Contant Inputs (For Modeling purposes, Stock Price is Constant for aStock 20Volatility 20%Riskless rate 4%


20 1 -5 -4

Strike Call Long !i"e ption Pa!o" (#1st ption 1 1 1 1 0 0

Strike Call Long !i"e ption Pa!o" (#%nd ption 22 1 1 1 0 0

Strike Call S ort !i"e ption Pa!o" (#&rd ption 20 1 0 1 0 0

ption Pre iu s (calculated belo #et tion Payo&s'irst ($& %1) +$3(21, +$3(21,Secon* ($1 1&) +$1(13, +$1(13,

! ir* $1 $1()) $1())

rading Strategies

Long call +$3(21, +$3(21,Long call +$1(13, +$1(13,S ort 2 calls % $3()7 $3()7

Strategy Payo& +$0(37, +$0(37,

'irst*1 0( 26 026*2 0(63call +c, $& %1

.t + , $* 51Secon*

*1 -0(176551

$2.00

$4.00

$6.00


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Butter l'Spread

Page 14

*2 +0(3 ,call +c, $1 1&

.t + , $% %- ! ir*

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

$17 $18 $19($8.00)

($6.00)

($4.00)

($2.00)

$0.00

,o g all ,o g all

$3.97 ($0.37)


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Butter l'Spread

Page 15

ll Strategies, but Strike Price Varies)

e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 1 2 3 4 5 6 7

oss of Pre iu )0 0 0 0 0 0 1 2 3

oss of Pre iu )0 0 0 0 -1 -2 -3 -4 -5

+$3(21, +$3(21, +$2(21, +$1(21, +$0(21, $0(7) $1(7) $2(7) $3(7)+$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$0(13, $0( 7 $1( 7$1()) $1()) $1()) $1()) $0()) +$0(01, +$1(01, +$2(01, +$3(01,

+$3(21, +$3(21, +$2(21, +$1(21, +$0(21, $0(7) $1(7) $2(7) $3(7)+$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$0(13, $0( 7 $1( 7$3()7 $3()7 $3()7 $3()7 $1()7 +$0(03, +$2(03, +$4(03, +$6(03,

+$0(37, +$0(37, $0(63 $1(63 $0(63 +$0(37, +$0(37, +$0(37, +$0(37,

C art !itle


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Butter l'Spread

Page 16

$20 $21 $22 $23 $24 $25

S+ort 2 al l& ($3.21) ($1.13)

Strateg' Pa'o


17/36

Cale darSpread

Page 17

Contant Inputs (For Modeling purposes, Stock Price is Constant for allStock 20Volatility 20%Riskless rate 4%


20 1 -5 -4

Strike Call S ort !i"e ption Pa!o" (#1st ption 20 1 0 1(00 0 0

Strike Call Long !i"e ption Value (Int%nd ption 20 1 1 1(25 $0(00 $0(01

ption Pre iu s (calculated belo') #et tion Payo&s'irst $1 $1()) $1())Secon* ($% %-) +$2(27, +$2(26,

rading StrategiesS ort call +s orter "at.rity, $1()) $1())Long call +longer "at.rity, +$2(27, +$2(26,

Strategy Payo& +$0(2 , +$0(27,

Pre iu s'irst

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

Secon**1 0(3354102*2 0(11call +c, $% %-

.t + , $1 %

/ong call at atu

$17 $18 $19($4.00)($3.00)($2.00)($1.00)$0.00

$1.00$2.00$3.00$4.00

S+ort al l (&

$1.99

($0.28)


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Cale darSpread

Page 18

Future Stock Pric$15 $16

!i"e 0(25 0(25*1 -2(726 2 -2(13144*2 +2( 3, +2(23,call +c, $* ** $* *1


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Cale darSpread

Page 19

Strategies, but Strike Price Varies)

e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 -1 -2 -3 -4 -5

rinsic Value . i e Value)$0(05 $0(17 $0(44 $0()0 $1(55 $2(36 $3(26 $4(22 $5(21

$1()) $1()) $1()) $1()) $0()) +$0(01, +$1(01, +$2(01, +$3(01,+$2(22, +$2(10, +$1( 3, +$1(37, +$0(72, $0(0) $0()) $1()5 $2()4

$1()) $1()) $1()) $1()) $0()) +$0(01, +$1(01, +$2(01, +$3(01,+$2(22, +$2(10, +$1( 3, +$1(37, +$0(72, $0(0) $0()) $1()5 $2()4+$0(23, +$0(11, $0(15 $0(61 $0(27 $0(07 +$0(02, +$0(06, +$0(0 ,

rit! of s0ort call

$20 $21 $22 $23 $24 $25

C art !itle

o rte r - atu r# t') , o g al l (l o ge r - atu r# t')

($2.27)

Strateg' Pa'o


20/36

Cale darSpread

Page 20

e$17 $1 $1) $20 $21 $22 $23 $24 $25

0(25 0(25 0(25 0(25 0(25 0(25 0(25 0(25 0(25-1(5251) -0()5361 -0(412)3 0(1 0(5 7) 1(0531 1(4)762 1()2322 2(33144

+1(63, +1(05, +0(51, - 0(4) 0()5 1(40 1( 2 2(23$* *5 $* 1- $* $* * $1 55 $% &2 $& %2 $ %% $5 %1


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Straddle

Page 21

Contant Inputs (For Modeling purposes, Stock Price is Constant for alStock 20Volatility 20%Riskless rate 4%


20 1 -5 -4

Strike Call Long !i"e ption Pa!o" (#First option 20 1 1 1 0 0

Strike P.t Long !i"e ption Pa!o" (#Second option 20 0 1 1 5 4

ption Pre iu s (calculated belo') #et tion Payo&s'irst ($1 ) +$1()), +$1()),Secon* ($1 %*) $3( 0 $2( 0

rading Strategies

Long Call +$1()), +$1()),Long P.t $3( 0 $2( 0

Strategy Payo& $1( 1 $0( 1

Secon**1 0(3*2 0(10call +c, $1

.t + , $1 %* ! ir*

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

($3.00)

($2.00)

($1.00)

$0.00

$1.00

$2.00$3.00

$4.00


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Straddle

Page 22

$17 $18.


23/36

Straddle

Page 23

l Strategies, but Strike Price Varies)

e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 1 2 3 4 5

oss of Pre iu )3 2 1 0 0 0 0 0 0

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$0(1), +$1(1), +$2(1), +$3(1), +$2(1), +$1(1), +$0(1), $0( 1 $1( 1

C art !itle


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Straddle

Page 24

$19 $20 $21 $22 $23 $24 $25

,o g Call ,o g Put ($1.99) $3.80

$1.81 Strateg' Pa'o


25/36

Stra gle

Page 25

Contant Inputs (For Modeling purposes, Stock Price is Constant for alStock 20Volatility 20%Riskless rate 4%


20 1 -5 -4

Strike Call Long !i"e ption Pa!o" (#First option 22 1 1 1 0 0

Strike P.t Long !i"e ption Pa!o" (#Second option 1 0 1 1 3 2

ption Pre iu s (calculated belo') #et tion Payo&s'irst ($1 1&) +$1(13, +$1(13,Secon* ($* 51) $2(4) $1(4)

rading Strategies

Long Call +$1(13, +$1(13,Long P.t $2(4) $1(4)

Strategy Payo& $1(36 $0(36

Secon**1 -0(176551*2 +0(3 ,call +c, $1 1&

.t + , $% %- ! ir*

*1 0( 26 026*2 0(63call +c, $& %1

.t + , $* 51

($1.50)

($1.00)

($0.50)

$0.00

$0.50

$1.00$1.50

$2.00

$2.50


26/36

Stra gle

Page 26

$17 $18.

,o g Call ,o g Pu


27/36

Stra gle

Page 27

l Strategies, but Strike Price Varies)

e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 0 0 1 2 3

oss of Pre iu )1 0 0 0 0 0 0 0 0

+$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$0(13, $0( 7 $1( 7$0(4) +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51,

+$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$1(13, +$0(13, $0( 7 $1( 7$0(4) +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51, +$0(51,

+$0(64, +$1(64, +$1(64, +$1(64, +$1(64, +$1(64, +$0(64, $0(36 $1(36

C art !itle


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Stra gle

Page 28

$19 $20 $21 $22 $23 $24 $25 t ($1.13) $2.49 $1.36 Strateg' Pa'o


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30/36

Str#p

Page 30

*2 +0(02,call +c, $1 -

.t + , $1 & ! ir*

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

$17 $18

($5.00)($4.00)($3.00)($2.00)($1.00)$0.00

,o g al l ,o g

$3.80 $5 .8


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Str#p

Page 31


e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 1 2 3 4 5

oss of Pre iu )3(5 2(5 1(5 0(5 0 0 0 0 0

oss of Pre iu )3 2 1 0 0 0 0 0 0

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$2(07 $1(07 $0(07 +$0()3, +$1(43, +$1(43, +$1(43, +$1(43, +$1(43,$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01$2(07 $1(07 $0(07 +$0()3, +$1(43, +$1(43, +$1(43, +$1(43, +$1(43,$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,$1( +$0(12, +$2(12, +$4(12, +$3(62, +$2(62, +$1(62, +$0(62, $0(3

C art !itle


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Str#p

Page 32

$19 $20 $21 $22 $23 $24 $25

put ,o g put ($1.99) $4.07

Strateg' Pa'o


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Strap

Page 33

Contant Inputs (For Modeling purposes, Stock Price is Constant for allStock 20Volatility 20%Riskless rate 4%


20 1 -5 -4

Strike Call Long !i"e ption Pa!o" (#1st ption 20 1 1 1 0 0

Strike Call Long !i"e ption Pa!o" (#%nd ption 20(5 1 1 1 0 0

Strike P.t Long !i"e ption Pa!o" (#&rd ption 20 0 1 1 5 4

ption Pre iu s (calculated belo') #et tion Payo&s'irst ($1 ) +$1()), +$1()),Secon* ($1 - ) +$1(74, +$1(74,

! ir* ($1 %*) $3( 0 $2( 0

rading Strategies

Long call +$1()), +$1()),Long call +$1(74, +$1(74,Long .t $3( 0 $2( 0

Strategy Payo& $0(0 +$0()2,

'irst*1 0(3*2 0(10call +c, $1

.t + , $1 %*Secon*

*1 0(176536)

$2.00

$4.00

$6.00


34/36

Strap

Page 34

*2 +0(02,call +c, $1 -

.t + , $1 & ! ir*

*1 0(3*2 0(10call +c, $1

.t + , $1 %*

$17 $18($6.00)

($4.00)

($2.00)

$0.00

,o g al l ,o

$3.80 $0.


35/36

Strap

Page 35


e$17 $1 $1) $20 $21 $22 $23 $24 $25

-3 -2 -1 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 1 2 3 4 5

oss of Pre iu )0 0 0 0 0(5 1(5 2(5 3(5 4(5

oss of Pre iu )3 2 1 0 0 0 0 0 0

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01+$1(74, +$1(74, +$1(74, +$1(74, +$1(24, +$0(24, $0(76 $1(76 $2(76$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$1()), +$1()), +$1()), +$1()), +$0()), $0(01 $1(01 $2(01 $3(01+$1(74, +$1(74, +$1(74, +$1(74, +$1(24, +$0(24, $0(76 $1(76 $2(76$1( 0 $0( 0 +$0(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20, +$1(20,

+$1()2, +$2()2, +$3()2, +$4()2, +$3(42, +$1(42, $0(5 $2(5 $4(5

C art !itle


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Strap

$19 $20 $21 $22 $23 $24 $25

g all ,o g put ($1.99) ($1.74)

8 Strateg' Pa'o

Documents

3 a 13 Optiontradingstrategies v1.Xls