Maturity 90 day

Exercise Prcall premium Put Premium

90 6 3
100 4.5 3.5
110 4 5

Long call
MPS at Maturity Long call 40
60 -4.5 35
70 -4.5
30
80 -4.5
25
90 -4.5
20
100 -4.5
110 5.5 15
120 15.5 10
130 25.5 5
140 35.5 0
1 2 3 4 5 6 7
-5
-10
Long call

5 6 7 8 9
Call option

Exercise Price premium Put Premium

90 6 3
100 4.5 3.5
110 4 5

20
MPS at Maturity long call-low short call-high bull spread
60 -6 4 -2
15
70 -6 4 -2
80 -6 4 -2
90 -6 4 -2 10

100 4 4 8
110 14 4 18 5
120 24 -6 18
130 34 -16 18 0
140 44 -26 18 1 2 3

150 54 -36 18
-5
 bull spread
20

15

10

0
1 2 3 4 5 6 7 8 9 10

-5
Maturity 90 day
Exercise Prcall premium Put Premium
90 6 3
100 4.5 3.5
110 4 5
sp
5

MPS at Maturity long put-low short put-High spread

60 27 -45 -18 0
1 2 3 4
70 17 -35 -18
80 7 -25 -18 -5
90 -3 -15 -18
100 -3 -5 -8
-10
110 -3 5 2
120 -3 5 2
-15
130 -3 5 2
140 -3 5 2
-20
 spread

2 3 4 5 6 7 8 9
Maturity 90 day
Exercise Prcall premium Put Premium
90 6 3
100 4.5 3.5
110 4 5
Short put
10
MPS at Maturity Short put 5
60 -36.5
0
70 -26.5 1 2 3 4 5 6
-5
80 -16.5
-10
90 -6.5
100 3.5 -15
110 3.5 -20
120 3.5 -25
130 3.5 -30
140 3.5 -35
-40
 Short put

3 4 5 6 7 8 9
Exercise Price Call premium Put Premium
90 6 3
100 4.5 3.5
110 4 5

short call
MPS at Maturity short call 10
60 3.5 5
70 3.5
0
80 3.5 1 2 3 4 5 6
-5
90 3.5
-10
100 3.5
110 -6.5 -15
120 -16.5 -20
130 -26.5 -25
140 -36.5 -30
-35
-40
 short call

3 4 5 6 7 8 9
Exercise PrCall prem Put Premium
90 6 3
100 4.5 3.5
110 4 5

MPS at Maturity long call -H Short call -L BEAR SPREAD

60 -4 6 2 0
1 2
70 -4 6 2
80 -4 6 2 -5
90 -4 6 2
100 -4 -4 -8 -10
110 -4 -14 -18
120 6 -24 -18
-15
130 16 -34 -18
140 26 -44 -18
-20

30

20

10

0
50 60 70
-10

-20

-30

-40

-50
 BEAR SPREAD
5

0
1 2 3 4 5 6 7 8 9

-5

-10

-15

-20

Chart Title
30

20

10

0
50 60 70 80 90 100 110 120 130 140 150
-10

-20

-30

-40

-50

long call -H Short call -L BEAR SPREAD

Maturity 90 day
Exercise Prcall premi Put Premium
90 6 3
100 4.5 3.5
110 4 5
long put
40
MPS at Matlong put 35
60 35.5
30
70 25.5
25
80 15.5
20
90 5.5
100 -4.5 15
110 -4.5 10
120 -4.5 5
130 -4.5 0
50
1 60 2 70 3 80 490 100
5 110 6
140 -4.5 -5
-10
 long put

490 100
5 110 6 120 7 130 140
8 150
9
Maturity 90 day
Exercise Prcall premi Put Premium
90 6 3
100 4.5 3.5
110 4 5
Bear Spread
20
MPS at Matlong put short put Bear Spread
60 45 -27 18
15
70 35 -17 18
80 25 -7 18
10
90 15 3 18
100 5 3 8
110 -5 3 -2 5
120 -5 3 -2
130 -5 3 -2 0
1 2 3 4 5 6
140 -5 3 -2
-5
 Bear Spread

4 5 6 7 8 9
Exercise PrCall prem Put Premium
90 6 3
100 4.5 3.5
110 4 5
35

30
MPS at Maturity LONG CALL LONG PUT Straddle 25
60 -4.5 36.5 32
20
70 -4.5 26.5 22
80 -4.5 16.5 12 15

90 -4.5 6.5 2 10
100 -4.5 -3.5 -8 5
110 5.5 -3.5 2
0
120 15.5 -3.5 12 1 2 3
-5
130 25.5 -3.5 22
140 35.5 -3.5 32 -10
 Straddle
35

30

25

20

15

10

0
1 2 3 4 5 6 7 8 9
-5

-10
Exercise PrCall prem Put Premium
90 6 3
100 4.5 3.5
110 4 5

80

MPS at Maturity 2*long call long put Strap 70

60 -9 36.5 27.5 60
70 -9 26.5 17.5 50
80 -9 16.5 7.5 40
90 -9 6.5 -2.5 30
100 -9 -3.5 -12.5
20
110 11 -3.5 7.5
10
120 31 -3.5 27.5
0
130 51 -3.5 47.5 1 2 3
140 71 -3.5 67.5 -10
-20
 Strap
80
70
60
50
40
30
20
10
0
1 2 3 4 5 6 7 8 9
-10
-20
Exercise PrCall prem Put Premium
90 6 3
100 4.5 3.5
110 4 5
80
70
MPS at Maturity long Call 2*Long PutStrip 60
60 -4.5 73 68.5
50
70 -4.5 53 48.5
40
80 -4.5 33 28.5
30
90 -4.5 13 8.5
100 -4.5 -7 -11.5 20

110 5.5 -7 -1.5 10

120 15.5 -7 8.5 0
1 2 3 4
130 25.5 -7 18.5 -10
140 35.5 -7 28.5 -20
 Strip
80
70
60
50
40
30
20
10
0
1 2 3 4 5 6 7 8 9
10
20
Spot Price 90
Exercise Price Call prem Put Premium
90 6 3
100 4.5 3.5
110 4 5

MPS at Maturity
60
70
80
90
100
110
120
130
140
Spot Price 90
Exercise PrCall premium
55 6b
60 1.5 s
65 0.5 s
70 0.1 b 2

MPS at Maturity 1
35 -6 1.5 0.5 -0.1 -4.1
0
40 -6 1.5 0.5 -0.1 -4.1 1 2 3 4
45 -6 1.5 0.5 -0.1 -4.1 -1
50 -6 1.5 0.5 -0.1 -4.1
-2
55 -6 1.5 0.5 -0.1 -4.1
60 -1 1.5 0.5 -0.1 0.9 -3
65 4 -3.5 0.5 -0.1 0.9
70 9 -8.5 -4.5 -0.1 -4.1 -4

75 14 -13.5 -9.5 4.9 -4.1

-5
80 19 -18.5 -14.5 9.9 -4.1
85 24 -23.5 -19.5 14.9 -4.1
90 29 -28.5 -24.5 19.9 -4.1
 Chart Title
2

0
1 2 3 4 5 6 7 8 9 10 11 12 13 14
-1

-2

-3

-4

-5