emba_basic option strategies by hedongchenchen

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									Covered Calls (-1, 0, 1)    Protective Puts (0, 1, 1) Collar (-1, 1, 1)

            Price                     1.96          1.45         85.08
            Strikes                     90            75
            Quantity                     0             0             1 Total           Total
            S(T)            Call Payoff    Put Payoff    Stock Payoff Payoff           Profit
                      60                 0             0            60           60         -25.9308
                     62.5                0             0          62.5          62.5        -23.4308
                      65                 0             0            65           65         -20.9308
                     67.5                0             0          67.5          67.5        -18.4308
                      70                 0             0            70           70         -15.9308
                     72.5                0             0          72.5          72.5        -13.4308
                      75                 0             0            75           75         -10.9308
                     77.5                0             0          77.5          77.5          -8.4308
                      80                 0             0            80           80           -5.9308
                     82.5                0             0          82.5          82.5          -3.4308
                      85                 0             0            85           85           -0.9308
                     87.5                0             0          87.5          87.5           1.5692
                      90                 0             0            90           90            4.0692
                     92.5                0             0          92.5          92.5           6.5692
                      95                 0             0            95           95            9.0692
                     97.5                0             0          97.5          97.5          11.5692
                     100                 0             0          100           100           14.0692
                    102.5                0             0         102.5         102.5          16.5692
                     105                 0             0          105           105           19.0692
                    107.5                0             0         107.5         107.5          21.5692
                     110                 0             0          110           110           24.0692
                    112.5                0             0         112.5         112.5          26.5692
                     115                 0             0          115           115           29.0692
                    117.5                0             0         117.5         117.5          31.5692
                     120                 0             0          120           120           34.0692
      XOM         July 2011 Options      Closing Prices March 4, 2011
      http://finance.yahoo.com/q/op?s=XOM&m=2011-07
                K        Call       Put
               70       15.55       0.81
            72.5         13.4        1.1
               75        11.1       1.45
               80        7.15       2.57
               85           4       4.45
               90        1.96        7.3
               95        0.81       10.5
             100         0.33       14.4




                                         Profit
40


30


20


10


 0


-10


-20


-30
Straddles
              buy call and put at K=1050
Quantity                1           0
              Call Payoff Put Payoff Total       Total           Total
S(T)          K=1050      K=1050      Payoff     Cost            Profit
        650             0           0          0    71.802          -73.238    350
        700             0           0          0    71.802          -73.238
        750             0           0          0    71.802          -73.238    300
        800             0           0          0    71.802          -73.238
                                                                               250
        850             0           0          0    71.802          -73.238
        900             0           0          0    71.802          -73.238    200
        950             0           0          0    71.802          -73.238
       1000             0           0          0    71.802          -73.238    150
       1050             0           0          0    71.802          -73.238
                                                                               100
       1100            50           0         50    71.802          -23.238
       1150          100            0        100    71.802        26.76196      50
       1200          150            0        150    71.802        76.76196
       1250          200            0        200    71.802         126.762       0
       1300          250            0        250    71.802         176.762            650
                                                                                -50
       1350          300            0        300    71.802         226.762
       1400          350            0        350    71.802         276.762     -100
       1450          400            0        400    71.802         326.762

Using Calls Only
Bear, Bull, and Ratio Spreads
Quantity:             1           0
             Payoff     Payoff        Total          Total       Total
S(T)         K=950      K=1050        Payoff         Cost        Profit
                                                                              150
       550            0           0              0     120.405     -122.813
       600            0           0              0     120.405     -122.813
       650            0           0              0     120.405     -122.813   100
       700            0           0              0     120.405     -122.813
       750            0           0              0     120.405     -122.813    50
       800            0           0              0     120.405     -122.813
       850            0           0              0     120.405     -122.813     0
       900            0           0              0     120.405     -122.813
                                                                                      550
       950            0           0              0     120.405     -122.813
                                                                               -50
      1000           50           0             50     120.405     -72.8131
      1050          100           0            100     120.405     -22.8131
      1100          150           0            150     120.405      27.1869   -100
      1150          200           0            200     120.405      77.1869
      1200          250           0            250     120.405    127.1869    -150
      1250          300           0            300     120.405    177.1869
      1300          350           0            350     120.405    227.1869
      1350          400           0            400     120.405    277.1869
      1400          450           0            450     120.405    327.1869
        1450      500        0    500   120.405 377.1869
        1500      550        0    550   120.405 427.1869


               120.405   71.802
Ratio                         2
Cost           -23.199
                               Profit




650 700 750 800 850 900 950 1000 1050 1100 1150 1200 1250 1300 1350 1400 1450




                                    Profit




550   600   650   700   750   800    850   900   950   1000 1050 1100 1150 1200

								
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