bully r.m. staratejahbffkjsabfgy

St = 800.00 Expiry Date= 3/27/2014 Co= 21

Po= 13.75

A] Naked Position : -

# Naked Long Stock Position (Long Position in the Cash Market)

ST P&L

200 (600.00)₹

300 (500.00)₹

400 (400.00)₹ 902

500 (300.00)₹

600 (200.00)₹

700 (100.00)₹

800 0

900 100.00₹

1000 200.00₹

1100 300.00₹

1200 400.00₹

1300 500.00₹

# Naked Short Stock Position (Short Position in Cash Market)

ST P&L

200 600.00₹

300 500.00₹

400 400.00₹

500 300.00₹

600 200.00₹

700 100.00₹

800 0

900 (100.00)₹

1000 (200.00)₹

1100 (300.00)₹

1200 (400.00)₹

1300 (500.00)₹

# Naked Bought Call Position (Investor has bought call option on underlying assets)

ST C0 P&L

200 21 (21.00)₹

300 21 (21.00)₹

400 21 (21.00)₹

500 21 (21.00)₹

600 21 (21.00)₹

700 21 (21.00)₹

800 21 (21.00)₹

900 21 79.00₹

1000 21 179.00₹

1100 21 279.00₹

1200 21 379.00₹

1300 21 479.00₹

# Naked Written Call (Investor has written call option on underlying assests)

ST C0 P&L

200 21 21.00₹

300 21 21.00₹

400 21 21.00₹

500 21 21.00₹

600 21 21.00₹

700 21 21.00₹

800 21 21.00₹

900 21 (79.00)₹

1000 21 (179.00)₹

1100 21 (279.00)₹

1200 21 (379.00)₹

1300 21 (479.00)₹

# Naked Bought Put (Investor has purchased a put option on underlying asset)

ST P0 P&L

200 13.75 586.25₹

300 13.75 486.25₹

400 13.75 386.25₹

500 13.75 286.25₹

600 13.75 186.25₹

700 13.75 86.25₹

800 13.75 (13.75)₹

900 13.75 (13.75)₹

1000 13.75 (13.75)₹

1100 13.75 (13.75)₹

1200 13.75 (13.75)₹

1300 13.75 (13.75)₹

# Naked Written Put (Investor has written put option underlying asset)

ST P0 P&L

200 13.75 (586.25)₹

300 13.75 (486.25)₹

400 13.75 (386.25)₹

500 13.75 (286.25)₹

600 13.75 (186.25)₹

700 13.75 (86.25)₹

800 13.75 13.75₹

900 13.75 13.75₹

1000 13.75 13.75₹

1100 13.75 13.75₹

1200 13.75 13.75₹

1300 13.75 13.75₹

B] Hedged Position

# Covered Call Writing (Buy Stock and Write Call)

ST G/L from Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

200 (600.00) 0 21 (579.00)₹

300 (500.00) 0 21 (479.00)₹

400 (400.00) 0 21 (379.00)₹

500 (300.00) 0 21 (279.00)₹

600 (200.00) 0 21 (179.00)₹

700 (100.00) 0 21 (79.00)₹

800 0 0 21 21.00₹

900 100.00 (100.00) 21 21.00₹

1000 200.00 (200.00) 21 21.00₹

1100 300.00 (300.00) 21 21.00₹

1200 400.00 (400.00) 21 21.00₹

1300 500.00 (500.00) 21 21.00₹

# Reverse Hedges (Sell Stock and Buy Call)

ST G/L from Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

200 600.00 0 (21.00) 579.00₹

300 500.00 0 (21.00) 479.00₹

400 400.00 0 (21.00) 379.00₹

500 300.00 0 (21.00) 279.00₹

600 200.00 0 (21.00) 179.00₹

700 100.00 0 (21.00) 79.00₹

800 0 0 (21.00) (21.00)₹

900 (100.00) 100.00 (21.00) (21.00)₹

1000 (200.00) 200.00 (21.00) (21.00)₹

1100 (300.00) 300.00 (21.00) (21.00)₹

1200 (400.00) 400.00 (21.00) (21.00)₹

1300 (500.00) 500.00 (21.00) (21.00)₹

# Protective Puts (Buy Stock and Buy Put)

ST G/L from Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

200 (600.00) 600.00 -13.75 (13.75)₹

300 (500.00) 500.00 -13.75 (13.75)₹

400 (400.00) 400.00 -13.75 (13.75)₹

500 (300.00) 300.00 -13.75 (13.75)₹

600 (200.00) 200.00 -13.75 (13.75)₹

700 (100.00) 100.00 -13.75 (13.75)₹

800 0 0 -13.75 (13.75)₹

900 100.00 0 -13.75 86.25₹

1000 200.00 0 -13.75 186.25₹

1100 300.00 0 -13.75 286.25₹

1200 400.00 0 -13.75 386.25₹

1300 500.00 0 -13.75 486.25₹

# Short Stock & Short Put (Combination of short sell of stock and writing puts)

ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the strategy

200 600.00 (600.00) 13.75 13.75₹

300 500.00 (500.00) 13.75 13.75₹

400 400.00 (400.00) 13.75 13.75₹

500 300.00 (300.00) 13.75 13.75₹

600 200.00 (200.00) 13.75 13.75₹

700 100.00 (100.00) 13.75 13.75₹

800 0 0 13.75 13.75₹

900 (100.00) 0 13.75 (86.25)₹

1000 (200.00) 0 13.75 (186.25)₹

1100 (300.00) 0 13.75 (286.25)₹

1200 (400.00) 0 13.75 (386.25)₹

1300 (500.00) 0 13.75 (486.25)₹

# Partial Hedge (No. of call written is differed from no. of Share purchase)

- Buy 1 stock and write 1/2 call

- Buy 1 stock and write 1 call

- Buy 1 stock and write 2 calls

ST Long Stock

1 stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

200 (600.00) (589.50)₹ (579.00)₹ (558.00)₹

300 (500.00) (489.50)₹ (479.00)₹ (458.00)₹

400 (400.00) (389.50)₹ (379.00)₹ (358.00)₹

500 (300.00) (289.50)₹ (279.00)₹ (258.00)₹

600 (200.00) (189.50)₹ (179.00)₹ (158.00)₹

700 (100.00) (89.50)₹ (79.00)₹ (58.00)₹

800 0 10.50₹ 21.00₹ 42.00₹

900 100.00 60.50₹ 21.00₹ (58.00)₹

1000 200.00 110.50₹ 21.00₹ (158.00)₹

1100 300.00 160.50₹ 21.00₹ (258.00)₹

1200 400.00 210.50₹ 21.00₹ (358.00)₹

1300 500.00 260.50₹ 21.00₹ (458.00)₹

C] Spread Position

# Money Spread using Calls

Sx Co

900 21

700 30

Bullish Money Spread

ST

Bought Call

Pay off (Sx =

700)

Written Call

Pay Off (Sx =

900)

Spread Pay

Off

200 (30.00) 21.00 (9.00)₹

300 (30.00) 21.00 (9.00)₹

400 (30.00) 21.00 (9.00)₹

500 (30.00) 21.00 (9.00)₹

600 (30.00) 21.00 (9.00)₹

700 (30.00) 21.00 (9.00)₹

800 70.00 21.00 91.00₹

900 170.00 21.00 191.00₹

1000 270.00 (79.00) 191.00₹

1100 370.00 (179.00) 191.00₹

1200 470.00 (279.00) 191.00₹

1300 570.00 (379.00) 191.00₹

Bearish Money Spread

ST

Bought Call

Pay off (Sx =

700)

Written Call

Pay Off (Sx =

900)

Spread Pay

Off

200 (21.00) 30.00 9.00₹

300 (21.00) 30.00 9.00₹

400 (21.00) 30.00 9.00₹

500 (21.00) 30.00 9.00₹

600 (21.00) 30.00 9.00₹

700 (21.00) 30.00 9.00₹

800 (21.00) (70.00) (91.00)₹

900 (21.00) (170.00) (191.00)₹

1000 79.00 (270.00) (191.00)₹

1100 179.00 (370.00) (191.00)₹

1200 279.00 (470.00) (191.00)₹

1300 379.00 (570.00) (191.00)₹

# Money Spread using Put

Sx P0

900 21

700 30


ST

Bought Put

Pay Off (Sx=

900)

Written Put

Pay Off (Sx=

700)

Spread Pay

Off

200 470.00 (679.00) (209.00)₹

300 370.00 (579.00) (209.00)₹

400 270.00 (479.00) (209.00)₹

500 170.00 (379.00) (209.00)₹

600 (30.00) (279.00) (309.00)₹

700 (30.00) (179.00) (209.00)₹

800 (30.00) 21.00 (9.00)₹

900 (30.00) 21.00 (9.00)₹

1000 (30.00) 21.00 (9.00)₹

1100 (30.00) 21.00 (9.00)₹

1200 (30.00) 21.00 (9.00)₹

1300 (30.00) 21.00 (9.00)₹


ST

Bought Put

Pay Off (Sx=

900)

Written Put

Pay Off (Sx=

700)

Spread Pay

Off

200 679.00 (470.00) 209.00₹

300 579.00 (370.00) 209.00₹

400 479.00 (270.00) 209.00₹

500 379.00 (170.00) 209.00₹

600 279.00 30.00 309.00₹

700 179.00 30.00 209.00₹

800 (21.00) 30.00 9.00₹

900 (21.00) 30.00 9.00₹

1000 (21.00) 30.00 9.00₹

1100 (21.00) 30.00 9.00₹

1200 (21.00) 30.00 9.00₹

1300 (21.00) 30.00 9.00₹

# Box Spread

Sx C0 P0

900 21 13.75

700 30 10

Bullish Trends

ST

Bought Call

Pay Off (Sx=

700)

Written Put

Pay Off (Sx=

700)

Spead Pay

Off

200 (30.00) (490.00) (520.00)₹

300 (30.00) (390.00) (420.00)₹

400 (30.00) (290.00) (320.00)₹

500 (30.00) (190.00) (220.00)₹

600 (30.00) 10.00 (20.00)₹

700 (30.00) 10.00 (20.00)₹

800 70.00 10.00 80.00₹

900 170.00 10.00 180.00₹

1000 270.00 10.00 280.00₹

1100 370.00 10.00 380.00₹

1200 470.00 10.00 480.00₹

1300 570.00 10.00 580.00₹

Bearish Trends

ST

Bought Call

Pay Off (Sx=

900)

Written Put

Pay Off (Sx=

900)

Spead Pay

Off

200 (21.00) (686.25) (707.25)₹

300 (21.00) (586.25) (607.25)₹

400 (21.00) (486.25) (507.25)₹

500 (21.00) (386.25) (407.25)₹

600 (21.00) (286.25) (307.25)₹

700 (21.00) (186.25) (207.25)₹

800 (21.00) 13.75 (7.25)₹

900 (21.00) 13.75 (7.25)₹

1000 79.00 13.75 92.75₹

1100 179.00 13.75 192.75₹

1200 279.00 13.75 292.75₹

1300 379.00 13.75 392.75₹

# Butterfly Spread

- Buying a Call with an exercise price of 2200


- Writing 2 Calls with an exercise price of 2100

Sx C0

700 30

800 25

900 21

ST

Bought Call

(Sx= 700)

Bought Call

(Sx= 900)

Written 2

Call (Sx=

800)

Value of

Butterfly

Spread

200 (30.00) (21.00) 50.00 (1.00)₹

300 (30.00) (21.00) 50.00 (1.00)₹

400 (30.00) (21.00) 50.00 (1.00)₹

500 (30.00) (21.00) 50.00 (1.00)₹

600 (30.00) (21.00) 50.00 (1.00)₹

700 (30.00) (21.00) 50.00 (1.00)₹

800 70.00 (21.00) 50.00 99.00₹

900 170.00 (21.00) (150.00) (1.00)₹

1000 270.00 79.00 (350.00) (1.00)₹

1100 370.00 179.00 (550.00) (1.00)₹

1200 470.00 279.00 (750.00) (1.00)₹

1300 570.00 379.00 (950.00) (1.00)₹

# Iron Condor Spreads

- Buy a call with an exercise price of 900

- Sell a call with an exercise price of 800

- Sell a put with an exercise price of 700

- Buy a put with an exercise price of 600

Sx C0 P0

900 21 -

800 25 -

700 - 13.75

600 - 10

ST

Gain from

Bougth Call

(Sx= 900)

Gain from

Written Call

(Sx= 800)

Gain from

Bougth Put

(Sx= 700)

Gain from

Written Put

(Sx= 600)

Gain from

Iron

Condor

200 (21.00) 25.00 486.25 (390.00) 100.25₹

300 (21.00) 25.00 386.25 (290.00) 100.25₹

400 (21.00) 25.00 286.25 (190.00) 100.25₹

500 (21.00) 25.00 186.25 10.00 200.25₹

600 (21.00) 25.00 (13.75) 10.00 0.25₹

700 (21.00) 25.00 (13.75) 10.00 0.25₹

800 (21.00) 25.00 (13.75) 10.00 0.25₹

900 (21.00) (75.00) (13.75) 10.00 (99.75)₹

1000 79.00 (175.00) (13.75) 10.00 (99.75)₹

1100 179.00 (275.00) (13.75) 10.00 (99.75)₹

1200 279.00 (375.00) (13.75) 10.00 (99.75)₹

1300 379.00 (475.00) (13.75) 10.00 (99.75)₹

D] Combinations

# Straddles (One Call and One Put)

ST

Bought

Straddles

Written

Straddles

200 565.25₹ (565.25)₹

300 465.25₹ (465.25)₹

400 365.25₹ (365.25)₹

500 265.25₹ (265.25)₹

600 165.25₹ (165.25)₹

700 65.25₹ (65.25)₹

800 (34.75)₹ 34.75₹

900 65.25₹ (65.25)₹

1000 165.25₹ (165.25)₹

1100 265.25₹ (265.25)₹

1200 365.25₹ (365.25)₹

1300 465.25₹ (465.25)₹

# Strips (One Call and Two Puts)

ST Bought Strips Written Strips

200 1,151.50₹ (1,151.50)₹

300 951.50₹ (951.50)₹

400 751.50₹ (751.50)₹

500 551.50₹ (551.50)₹

600 351.50₹ (351.50)₹

700 151.50₹ (151.50)₹

800 (48.50)₹ 48.50₹

900 51.50₹ (51.50)₹

1000 151.50₹ (151.50)₹

1100 251.50₹ (251.50)₹

1200 351.50₹ (351.50)₹

1300 451.50₹ (451.50)₹

# Straps (Two Calls and One Put)

ST Bought Straps Written Straps

200 544.25₹ (544.25)₹

300 444.25₹ (444.25)₹

Combination of Option Trading Strategy

Reliance

Final Pay off of the Strategy

400 344.25₹ (344.25)₹

500 244.25₹ (244.25)₹

600 144.25₹ (144.25)₹

700 44.25₹ (44.25)₹

800 (55.75)₹ 55.75₹

900 144.25₹ (144.25)₹

1000 344.25₹ (344.25)₹

1100 544.25₹ (544.25)₹

1200 744.25₹ (744.25)₹

1300 944.25₹ (944.25)₹

# Strangles

Sx 2 1000

ST

Gain from the

Bought Call

(Sx= 900)

Gain from the

Bought put

(Sx= 1000)

Gain from

the Strategy

200 (21.00) 786.25 765.25₹

300 (21.00) 686.25 665.25₹

400 (21.00) 586.25 565.25₹

500 (21.00) 486.25 465.25₹

600 (21.00) 386.25 365.25₹

700 (21.00) 286.25 265.25₹

800 (21.00) 186.25 165.25₹

900 79.00 (13.75) 65.25₹

1000 179.00 (13.75) 165.25₹

1100 279.00 (13.75) 265.25₹

1200 379.00 (13.75) 365.25₹

1300 479.00 (13.75) 465.25₹

St = 1,500.00 Expiry Date= 3/27/2014 Co= 51

Po= 38


1 Naked Long Stock Position (Long Position in the Cash Market)

ST P&L

900 (600.00)

1000 (500.00)

1100 (400.00) 1840

1200 (300.00)

1300 (200.00)

1400 (100.00)

1500 0

1600 100.00

1700 200.00

1800 300.00

1900 400.00

2000 500.00

2 Naked Short Stock Position (Short Position in Cash Market)

ST P&L

900 600.00

1000 500.00

1100 400.00

1200 300.00

1300 200.00

1400 100.00

1500 0

1600 (100.00)

1700 (200.00)

1800 (300.00)

1900 (400.00)

2000 (500.00)


SBI

3 Naked Bought Call Position (Investor has bought call option on underlying assets)

ST C0 P&L

900 51 (51.00)

1000 51 (51.00)

1100 51 (51.00)

1200 51 (51.00)

1300 51 (51.00)

1400 51 (51.00)

1500 51 (51.00)

1600 51 49.00

1700 51 149.00

1800 51 249.00

1900 51 349.00

2000 51 449.00

4 Naked Written Call (Investor has written call option on underlying assests)

ST C0 P&L

900 51 51.00

1000 51 51.00

1100 51 51.00

1200 51 51.00

1300 51 51.00

1400 51 51.00

1500 51 51.00

1600 51 (49.00)

1700 51 (149.00)

1800 51 (249.00)

1900 51 (349.00)

2000 51 (449.00)

5 Naked Bought Put (Investor has purchased a put option on underlying asset)

ST P0 P&L

900 38 562.00

1000 38 462.00

1100 38 362.00

1200 38 262.00

1300 38 162.00

1400 38 62.00

1500 38 (38.00)

1600 38 (38.00)

1700 38 (38.00)

1800 38 (38.00)

1900 38 (38.00)

2000 38 (38.00)

6 Naked Written Put (Investor has written put option underlying asset)

ST P0 P&L

900 38 (562.00)

1000 38 (462.00)

1100 38 (362.00)

1200 38 (262.00)

1300 38 (162.00)

1400 38 (62.00)

1500 38 38.00

1600 38 38.00

1700 38 38.00

1800 38 38.00

1900 38 38.00

2000 38 38.00

B] Hedged Position

1 Covered Call Writing (Buy Stock and Write Call)

ST G/L from Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

900 (600.00) 0 51 (549.00)

1000 (500.00) 0 51 (449.00)

1100 (400.00) 0 51 (349.00)

1200 (300.00) 0 51 (249.00)

1300 (200.00) 0 51 (149.00)

1400 (100.00) 0 51 (49.00)

1500 0 0 51 51.00

1600 100.00 (100.00) 51 51.00

1700 200.00 (200.00) 51 51.00

1800 300.00 (300.00) 51 51.00

1900 400.00 (400.00) 51 51.00

2000 500.00 (500.00) 51 51.00

2 Reverse Hedges (Sell Stock and Buy Call)

ST G/L from Stock

Value of Bought

Call

Call Prem.

Paid

P&L from

Reverse

Hedge

900 600.00 0 (51.00) 549.00

1000 500.00 0 (51.00) 449.00

1100 400.00 0 (51.00) 349.00

1200 300.00 0 (51.00) 249.00

1300 200.00 0 (51.00) 149.00

1400 100.00 0 (51.00) 49.00

1500 0 0 (51.00) (51.00)

1600 (100.00) 100.00 (51.00) (51.00)

1700 (200.00) 200.00 (51.00) (51.00)

1800 (300.00) 300.00 (51.00) (51.00)

1900 (400.00) 400.00 (51.00) (51.00)

2000 (500.00) 500.00 (51.00) (51.00)

3 Protective Puts (Buy Stock and Buy Put)

ST G/L from Stock

Value of Bought

Put

Put Prem.

Paid

P&L from

Protective

Put

900 (600.00) 600.00 (38.00) (38.00)

1000 (500.00) 500.00 (38.00) (38.00)

1100 (400.00) 400.00 (38.00) (38.00)

1200 (300.00) 300.00 (38.00) (38.00)

1300 (200.00) 200.00 (38.00) (38.00)

1400 (100.00) 100.00 (38.00) (38.00)

1500 0 0 (38.00) (38.00)

1600 100.00 0 (38.00) 62.00

1700 200.00 0 (38.00) 162.00

1800 300.00 0 (38.00) 262.00

1900 400.00 0 (38.00) 362.00

2000 500.00 0 (38.00) 462.00

4 Short Stock & Short Put (Combination of short sell of stock and writing puts)

ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from the

strategy

900 600.00 (600.00) 38 38.00

1000 500.00 (500.00) 38 38.00

1100 400.00 (400.00) 38 38.00

1200 300.00 (300.00) 38 38.00

1300 200.00 (200.00) 38 38.00

1400 100.00 (100.00) 38 38.00

1500 0 0 38 38.00

1600 (100.00) 0 38 (62.00)

1700 (200.00) 0 38 (162.00)

1800 (300.00) 0 38 (262.00)

1900 (400.00) 0 38 (362.00)

2000 (500.00) 0 38 (462.00)

5 Partial Hedge (No. of call written is differed from no. of Share purchase)




ST Long Stock

1 stock+1/2 call

write

1 stock+1 call

write

1 stock+2

calls write

900 (600.00) (574.50) (549.00) (498.00)

1000 (500.00) (474.50) (449.00) (398.00)

1100 (400.00) (374.50) (349.00) (298.00)

1200 (300.00) (274.50) (249.00) (198.00)

1300 (200.00) (174.50) (149.00) (98.00)

1400 (100.00) (74.50) (49.00) 2.00

1500 0 25.50 51.00 102.00

1600 100.00 75.50 51.00 2.00

1700 200.00 125.50 51.00 (98.00)

1800 300.00 175.50 51.00 (198.00)

1900 400.00 225.50 51.00 (298.00)

2000 500.00 275.50 51.00 (398.00)

C] Spread Position

1 Money Spread using Calls

Sx Co

1500 51

1300 60


ST

Bought Call Pay

off (Sx = 1300)

Written Call Pay

Off (Sx = 1500)

Spread Pay

Off

900 (60.00) 51.00 (9.00)

1000 (60.00) 51.00 (9.00)

1100 (60.00) 51.00 (9.00)

1200 (60.00) 51.00 (9.00)

1300 (60.00) 51.00 (9.00)

1400 40.00 51.00 91.00

1500 140.00 51.00 191.00

1600 240.00 (49.00) 191.00

1700 340.00 (149.00) 191.00

1800 440.00 (249.00) 191.00

1900 540.00 (349.00) 191.00

2000 640.00 (449.00) 191.00



ST

Bought Call Pay

off (Sx = 1500)

Written Call Pay

Off (Sx = 1300)

Spread Pay

Off

900 (51.00) 60.00 9.00

1000 (51.00) 60.00 9.00

1100 (51.00) 60.00 9.00

1200 (51.00) 60.00 9.00

1300 (51.00) 60.00 9.00

1400 (51.00) (40.00) (91.00)

1500 (51.00) (140.00) (191.00)

1600 49.00 (240.00) (191.00)

1700 149.00 (340.00) (191.00)

1800 249.00 (440.00) (191.00)

1900 349.00 (540.00) (191.00)

2000 449.00 (640.00) (191.00)

2 Money Spread using Put

Sx P0

1500 38

1300 34


ST

Bought Put Pay

Off (Sx= 1500)

Written Put Pay

Off (Sx= 1300)

Spread Pay

Off

900 366.00 (562.00) (196.00)

1000 266.00 (462.00) (196.00)

1100 166.00 (362.00) (196.00)

1200 66.00 (262.00) (196.00)

1300 (34.00) (162.00) (196.00)

1400 (34.00) (62.00) (96.00)

1500 (34.00) 38.00 4.00

1600 (34.00) 38.00 4.00

1700 (34.00) 38.00 4.00

1800 (34.00) 38.00 4.00

1900 (34.00) 38.00 4.00

2000 (34.00) 38.00 4.00


ST

Bought Put Pay

Off (Sx= 1500)

Written Put Pay

Off (Sx= 1300)

Spread Pay

Off

900 562.00 (366.00) 196.00

1000 462.00 (266.00) 196.00

1100 362.00 (166.00) 196.00

1200 262.00 (66.00) 196.00

1300 162.00 34.00 196.00

1400 62.00 34.00 96.00

1500 (38.00) 34.00 (4.00)

1600 (38.00) 34.00 (4.00)

1700 (38.00) 34.00 (4.00)

1800 (38.00) 34.00 (4.00)

1900 (38.00) 34.00 (4.00)

2000 (38.00) 34.00 (4.00)

3 Box Spread

Sx C0 P0

1500 51 38

1300 60 34

Bullish Trends

ST

Bought Call Pay

Off (Sx= 1300)

Written Put Pay

Off (Sx= 1300)

Spead Pay

Off

900 (60.00) (366.00) (426.00)

1000 (60.00) (266.00) (326.00)

1100 (60.00) (166.00) (226.00)

1200 (60.00) (66.00) (126.00)

1300 (60.00) 34.00 -26

1400 40.00 34.00 74.00

1500 140.00 34.00 174.00

1600 240.00 34.00 274.00

1700 340.00 34.00 374.00

1800 440.00 34.00 474.00

1900 540.00 34.00 574.00

2000 640.00 34.00 674.00

Bearish Trends

ST

Bought Call Pay

Off (Sx= 1500)

Written Put Pay

Off (Sx= 1500) Spead Pay Off

900 (51.00) (562.00) (613.00)

1000 (51.00) (462.00) (513.00)

1100 (51.00) (362.00) (413.00)

1200 (51.00) (262.00) (313.00)

1300 (51.00) (162.00) (213.00)

1400 (51.00) (62.00) (113.00)

1500 (51.00) 38.00 (13.00)

1600 49.00 38.00 87.00

1700 149.00 38.00 187.00

1800 249.00 38.00 287.00

1900 349.00 38.00 387.00

2000 449.00 38.00 487.00

4 Butterfly Spread




Sx C0

1300 60

1400 55

1500 51

ST

Bought Call (Sx=

570)

Bought Call (Sx=

590)

Written 2 Call

(Sx= 580)

Value of

Butterfly

Spread

900 (60.00) (51.00) 110.00 (1.00)

1000 (60.00) (51.00) 110.00 (1.00)

1100 (60.00) (51.00) 110.00 (1.00)

1200 (60.00) (51.00) 110.00 (1.00)

1300 (60.00) (51.00) 110.00 (1.00)

1400 40.00 (51.00) 110.00 99.00

1500 140.00 (51.00) (90.00) (1.00)

1600 240.00 49.00 (290.00) (1.00)

1700 340.00 149.00 (490.00) (1.00)

1800 440.00 249.00 (690.00) (1.00)

1900 540.00 349.00 (890.00) (1.00)

2000 640.00 449.00 (1,090.00) (1.00)

5 Iron Condor Spreads





Sx C0 P0

1500 51 -

1400 55 -

1300 - 34

1200 - 40

ST

Gain from

Bougth Call (Sx=

1500)

Gain from

Written Call

(Sx= 1400)

Gain from

Bougth Put

(Sx= 1300)

Gain from

Written Put

(Sx= 1200)

Gain from

Iron Condor

Strategy

900 (51.00) 55.00 366.00 (260.00) 110.00

1000 (51.00) 55.00 266.00 (160.00) 110.00

1100 (51.00) 55.00 166.00 (60.00) 110.00

1200 (51.00) 55.00 66.00 40.00 110.00

1300 (51.00) 55.00 (34.00) 40.00 10.00

1400 (51.00) 55.00 (34.00) 40.00 10.00

1500 (51.00) (45.00) (34.00) 40.00 (90.00)

1600 49.00 (145.00) (34.00) 40.00 (90.00)

1700 149.00 (245.00) (34.00) 40.00 (90.00)

1800 249.00 (345.00) (34.00) 40.00 (90.00)

1900 349.00 (445.00) (34.00) 40.00 (90.00)

2000 449.00 (545.00) (34.00) 40.00 (90.00)

D] Combinations

1 Straddles (One Call and One Put)

ST

Bought

Straddles

Written

Straddles

900 511.00 (511.00)

1000 411.00 (411.00)

1100 311.00 (311.00)

1200 211.00 (211.00)

1300 111.00 (111.00)

1400 11.00 (11.00)

1500 (89.00) 89.00

1600 11.00 (11.00)

1700 111.00 (111.00)

1800 211.00 (211.00)

1900 311.00 (311.00)

2000 411.00 (411.00)

2 Strips (One Call and Two Puts)

ST Bought Strips Written Strips

900 1,073.00 (1,073.00)

1000 873.00 (873.00)

1100 673.00 (673.00)

1200 473.00 (473.00)

1300 273.00 (273.00)

1400 73.00 (73.00)

1500 (127.00) 127.00

1600 (27.00) 27.00

1700 73.00 (73.00)

1800 173.00 (173.00)

1900 273.00 (273.00)

2000 373.00 (373.00)

3 Straps (Two Calls and One Put)

ST Bought Straps Written Straps

900 460.00 (460.00)

1000 360.00 (360.00)

1100 260.00 (260.00)

1200 160.00 (160.00)

1300 60.00 (60.00)

1400 (40.00) 40.00

1500 (140.00) 140.00

1600 60.00 (60.00)

1700 260.00 (260.00)

1800 460.00 (460.00)

1900 660.00 (660.00)

2000 860.00 (860.00)

4 Strangles

Sx 2 1600

ST

Gain from the

Bought Call (Sx=

1500)

Gain from the

Bought put (Sx=

1600)

Gain from

the Strategy

900 (51.00) 662.00 611.00

1000 (51.00) 562.00 511.00

1100 (51.00) 462.00 411.00

1200 (51.00) 362.00 311.00

1300 (51.00) 262.00 211.00

1400 (51.00) 162.00 111.00

1500 (51.00) 62.00 11.00

1600 49.00 (38.00) 11.00

1700 149.00 (38.00) 111.00

1800 249.00 (38.00) 211.00

1900 349.00 (38.00) 311.00

2000 449.00 (38.00) 411.00

St = 1,500.00 Expiry Date=3/27/2014 Co= 101

Po= 18.19



ST P&L

900 (600.00)

1000 (500.00)

1100 (400.00)

1200 (300.00)

1300 (200.00)

1400 (100.00)

1500 0

1600 100.00

1700 200.00

1800 300.00

1900 400.00

2000 500.00


ST P&L

900 600.00

1000 500.00

1100 400.00

1200 300.00

1300 200.00

1400 100.00

1500 0

1600 (100.00)

1700 (200.00)

1800 (300.00)

1900 (400.00)

2000 (500.00)


Maruti


ST C0 P&L

900 101 (101.00)

1000 101 (101.00)

1100 101 (101.00)

1200 101 (101.00)

1300 101 (101.00)

1400 101 (101.00)

1500 101 (101.00)

1600 101 (1.00)

1700 101 99.00

1800 101 199.00

1900 101 299.00

2000 101 399.00


ST C0 P&L

900 101 101.00

1000 101 101.00

1100 101 101.00

1200 101 101.00

1300 101 101.00

1400 101 101.00

1500 101 101.00

1600 101 1.00

1700 101 (99.00)

1800 101 (199.00)

1900 101 (299.00)

2000 101 (399.00)


ST P0 P&L

900 18.19 581.81

1000 18.19 481.81

1100 18.19 381.81

1200 18.19 281.81

1300 18.19 181.81

1400 18.19 81.81

1500 18.19 (18.19)

1600 18.19 (18.19)

1700 18.19 (18.19)

1800 18.19 (18.19)

1900 18.19 (18.19)

2000 18.19 (18.19)


ST P0 P&L

900 18.19 (581.81)

1000 18.19 (481.81)

1100 18.19 (381.81)

1200 18.19 (281.81)

1300 18.19 (181.81)

1400 18.19 (81.81)

1500 18.19 18.19

1600 18.19 18.19

1700 18.19 18.19

1800 18.19 18.19

1900 18.19 18.19

2000 18.19 18.19

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

900 (600.00) 0 101 (499.00)

1000 (500.00) 0 101 (399.00)

1100 (400.00) 0 101 (299.00)

1200 (300.00) 0 101 (199.00)

1300 (200.00) 0 101 (99.00)

1400 (100.00) 0 101 1.00

1500 0 0 101 101.00

1600 100.00 (100.00) 101 101.00

1700 200.00 (200.00) 101 101.00

1800 300.00 (300.00) 101 101.00

1900 400.00 (400.00) 101 101.00

2000 500.00 (500.00) 101 101.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

900 600.00 0 (101.00) 499.00

1000 500.00 0 (101.00) 399.00

1100 400.00 0 (101.00) 299.00

1200 300.00 0 (101.00) 199.00

1300 200.00 0 (101.00) 99.00

1400 100.00 0 (101.00) (1.00)

1500 0 0 (101.00) (101.00)

1600 (100.00) 100.00 (101.00) (101.00)

1700 (200.00) 200.00 (101.00) (101.00)

1800 (300.00) 300.00 (101.00) (101.00)

1900 (400.00) 400.00 (101.00) (101.00)

2000 (500.00) 500.00 (101.00) (101.00)


ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

900 (600.00) 600.00 (18.19) (18.19)

1000 (500.00) 500.00 (18.19) (18.19)

1100 (400.00) 400.00 (18.19) (18.19)

1200 (300.00) 300.00 (18.19) (18.19)

1300 (200.00) 200.00 (18.19) (18.19)

1400 (100.00) 100.00 (18.19) (18.19)

1500 0 0 (18.19) (18.19)

1600 100.00 0 (18.19) 81.81

1700 200.00 0 (18.19) 181.81

1800 300.00 0 (18.19) 281.81

1900 400.00 0 (18.19) 381.81

2000 500.00 0 (18.19) 481.81


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the

strategy

900 600.00 (600.00) 18.19 18.19

1000 500.00 (500.00) 18.19 18.19

1100 400.00 (400.00) 18.19 18.19

1200 300.00 (300.00) 18.19 18.19

1300 200.00 (200.00) 18.19 18.19

1400 100.00 (100.00) 18.19 18.19

1500 0 0 18.19 18.19

1600 (100.00) 0 18.19 (81.81)

1700 (200.00) 0 18.19 (181.81)

1800 (300.00) 0 18.19 (281.81)

1900 (400.00) 0 18.19 (381.81)

2000 (500.00) 0 18.19 (481.81)





ST Long Stock

1 stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

900 (600.00) (549.50) (499.00) (398.00)

1000 (500.00) (449.50) (399.00) (298.00)

1100 (400.00) (349.50) (299.00) (198.00)

1200 (300.00) (249.50) (199.00) (98.00)

1300 (200.00) (149.50) (99.00) 2.00

1400 (100.00) (49.50) 1.00 102.00

1500 0 50.50 101.00 202.00

1600 100.00 100.50 101.00 102.00

1700 200.00 150.50 101.00 2.00

1800 300.00 200.50 101.00 (98.00)

1900 400.00 250.50 101.00 (198.00)

2000 500.00 300.50 101.00 (298.00)

C] Spread Position


Sx Co

1500 101

1300 120


ST

Bought Call

Pay off (Sx

= 90)

Written Call

Pay Off (Sx =

110)

Spread

Pay Off

900 (120.00) 101.00 (19.00)

1000 (120.00) 101.00 (19.00)

1100 (120.00) 101.00 (19.00)

1200 (120.00) 101.00 (19.00)

1300 (120.00) 101.00 (19.00)

1400 (20.00) 101.00 81.00

1500 80.00 101.00 181.00

1600 180.00 1.00 181.00

1700 280.00 (99.00) 181.00

1800 380.00 (199.00) 181.00

1900 480.00 (299.00) 181.00

2000 580.00 (399.00) 181.00



ST

Bought Call

Pay off (Sx

= 1500)

Written Call

Pay Off (Sx =

1300)

Spread

Pay Off

900 (101.00) 120.00 19.00

1000 (101.00) 120.00 19.00

1100 (101.00) 120.00 19.00

1200 (101.00) 120.00 19.00

1300 (101.00) 120.00 19.00

1400 (101.00) 20.00 (81.00)

1500 (101.00) (80.00) (181.00)

1600 (1.00) (180.00) (181.00)

1700 99.00 (280.00) (181.00)

1800 199.00 (380.00) (181.00)

1900 299.00 (480.00) (181.00)

2000 399.00 (580.00) (181.00)


Sx P0

1500 18.19

1300 14


ST

Bought Put

Pay Off (Sx=

1300)

Written Put

Pay Off (Sx=

1500)

Spread

Pay Off

900 386.00 (581.81) (195.81)

1000 286.00 (481.81) (195.81)

1100 186.00 (381.81) (195.81)

1200 86.00 (281.81) (195.81)

1300 (14.00) (181.81) (195.81)

1400 (14.00) (81.81) (95.81)

1500 (14.00) 18.19 4.19

1600 (14.00) 18.19 4.19

1700 (14.00) 18.19 4.19

1800 (14.00) 18.19 4.19

1900 (14.00) 18.19 4.19

2000 (14.00) 18.19 4.19


ST

Bought Put

Pay Off (Sx=

1500)

Written Put

Pay Off (Sx=

1300)

Spread

Pay Off

900 581.81 (386.00) 195.81

1000 481.81 (286.00) 195.81

1100 381.81 (186.00) 195.81

1200 281.81 (86.00) 195.81

1300 181.81 14.00 195.81

1400 81.81 14.00 95.81

1500 (18.19) 14.00 (4.19)

1600 (18.19) 14.00 (4.19)

1700 (18.19) 14.00 (4.19)

1800 (18.19) 14.00 (4.19)

1900 (18.19) 14.00 (4.19)

2000 (18.19) 14.00 (4.19)

3 Box Spread

Sx C0 P0

1500 101 18.19

1300 120 14

Bullish Trends

ST

Bought Call

Pay Off (Sx=

1300)

Written Put

Pay Off (Sx=

1300)

Spead

Pay Off

900 (120.00) (386.00) (506.00)

1000 (120.00) (286.00) (406.00)

1100 (120.00) (186.00) (306.00)

1200 (120.00) (86.00) (206.00)

1300 (120.00) 14.00 (106.00)

1400 (20.00) 14.00 (6.00)

1500 80.00 14.00 94.00

1600 180.00 14.00 194.00

1700 280.00 14.00 294.00

1800 380.00 14.00 394.00

1900 480.00 14.00 494.00

2000 580.00 14.00 594.00

Bearish Trends

ST

Bought Call

Pay Off (Sx=

1500)

Written Put

Pay Off (Sx=

1500)

Spead

Pay Off

900 (101.00) (581.81) (682.81)

1000 (101.00) (481.81) (582.81)

1100 (101.00) (381.81) (482.81)

1200 (101.00) (281.81) (382.81)

1300 (101.00) (181.81) (282.81)

1400 (101.00) (81.81) (182.81)

1500 (101.00) 18.19 (82.81)

1600 (1.00) 18.19 17.19

1700 99.00 18.19 117.19

1800 199.00 18.19 217.19

1900 299.00 18.19 317.19

2000 399.00 18.19 417.19

4 Butterfly Spread




Sx C0

1300 120

1400 110

1500 101

ST

Bought Call

(Sx= 1300)

Bought Call

(Sx= 1500)

Written 2

Call (Sx=

1400)

Value of

Butterfly

Spread

900 (120.00) (101.00) 220.00 (1.00)

1000 (120.00) (101.00) 220.00 (1.00)

1100 (120.00) (101.00) 220.00 (1.00)

1200 (120.00) (101.00) 220.00 (1.00)

1300 (120.00) (101.00) 220.00 (1.00)

1400 (20.00) (101.00) 220.00 99.00

1500 80.00 (101.00) 20.00 (1.00)

1600 180.00 (1.00) (180.00) (1.00)

1700 280.00 99.00 (380.00) (1.00)

1800 380.00 199.00 (580.00) (1.00)

1900 480.00 299.00 (780.00) (1.00)

2000 580.00 399.00 (980.00) (1.00)






Sx C0 P0

1500 101 -

1400 110 -

1300 - 14

1200 - 16

ST

Gain from

Bougth Call

(Sx= 1500)

Gain from

Written Call

(Sx= 1400)

Gain from

Bougth

Put (Sx=

1300)

Gain from

Written Put

(Sx= 1200)

Gain

from Iron

Condor

Strategy

900 (101.00) 110.00 386.00 (284.00) 111.00

1000 (101.00) 110.00 286.00 (184.00) 111.00

1100 (101.00) 110.00 186.00 (84.00) 111.00

1200 (101.00) 110.00 86.00 16.00 111.00

1300 (101.00) 110.00 (14.00) 16.00 11.00

1400 (101.00) 110.00 (14.00) 16.00 11.00

1500 (101.00) 10.00 (14.00) 16.00 (89.00)

1600 (1.00) (90.00) (14.00) 16.00 (89.00)

1700 99.00 (190.00) (14.00) 16.00 (89.00)

1800 199.00 (290.00) (14.00) 16.00 (89.00)

1900 299.00 (390.00) (14.00) 16.00 (89.00)

2000 399.00 (490.00) (14.00) 16.00 (89.00)

D] Combinations


ST

Bought

Straddles

Written

Straddles

900 480.81 (480.81)

1000 380.81 (380.81)

1100 280.81 (280.81)

1200 180.81 (180.81)

1300 80.81 (80.81)

1400 (19.19) 19.19

1500 (119.19) 119.19

1600 (19.19) 19.19

1700 80.81 (80.81)

1800 180.81 (180.81)

1900 280.81 (280.81)

2000 380.81 (380.81)


ST

Bought

Strips

Written

Strips

900 1,062.62 (1,062.62)

1000 862.62 (862.62)

1100 662.62 (662.62)

1200 462.62 (462.62)

1300 262.62 (262.62)

1400 62.62 (62.62)

1500 (137.38) 137.38

1600 (37.38) 37.38

1700 62.62 (62.62)

1800 162.62 (162.62)

1900 262.62 (262.62)

2000 362.62 (362.62)


ST

Bought

Straps

Written

Straps

900 379.81 (379.81)

1000 279.81 (279.81)

1100 179.81 (179.81)

1200 79.81 (79.81)

1300 (20.19) 20.19

1400 (120.19) 120.19

1500 (220.19) 220.19

1600 (20.19) 20.19

1700 179.81 (179.81)

1800 379.81 (379.81)

1900 579.81 (579.81)

2000 779.81 (779.81)

4 Strangles

Sx 2 1600

ST

Gain from

the Bought

Call (Sx=

1500)

Gain from

the Bought

put (Sx=

1600)

Gain

from the

Strategy

900 (101.00) 681.81 580.81

1000 (101.00) 581.81 480.81

1100 (101.00) 481.81 380.81

1200 (101.00) 381.81 280.81

1300 (101.00) 281.81 180.81

1400 (101.00) 181.81 80.81

1500 (101.00) 81.81 (19.19)

1600 (1.00) (18.19) (19.19)

1700 99.00 (18.19) 80.81

1800 199.00 (18.19) 180.81

1900 299.00 (18.19) 280.81

2000 399.00 (18.19) 380.81

St = 400.00 Expiry Date= 3/27/2014 Co= 19

Po= 9



ST P&L

100 (300.00) 397

200 (200.00)

300 (100.00)

400 -

500 100.00

600 200.00

700 300.00

800 400.00

900 500.00

1000 600.00

1100 700.00

1200 800.00


ST P&L

100 300.00

200 200.00

300 100.00

400 -

500 (100.00)

600 (200.00)

700 (300.00)

800 (400.00)

900 (500.00)

1000 (600.00)

1100 (700.00)

1200 (800.00)


Tata Motors


ST C0 P&L

100 19 (19.00)

200 19 (19.00)

300 19 (19.00)

400 19 (19.00)

500 19 (19.00)

600 19 (19.00)

700 19 (19.00)

800 19 381.00

900 19 481.00

1000 19 581.00

1100 19 681.00

1200 19 781.00


ST C0 P&L

100 19 19.00

200 19 19.00

300 19 19.00

400 19 19.00

500 19 19.00

600 19 19.00

700 19 19.00

800 19 (381.00)

900 19 (481.00)

1000 19 (581.00)

1100 19 (681.00)

1200 19 (781.00)


ST P0 P&L

100 9 291.00

200 9 191.00

300 9 91.00

400 9 (9.00)

500 9 (109.00)

600 9 (209.00)

700 9 (9.00)

800 9 (9.00)

900 9 (9.00)

1000 9 (9.00)

1100 9 (9.00)

1200 9 (9.00)


ST P0 P&L

100 9 (291.00)

200 9 (191.00)

300 9 (91.00)

400 9 9.00

500 9 109.00

600 9 209.00

700 9 9.00

800 9 9.00

900 9 9.00

1000 9 9.00

1100 9 9.00

1200 9 9.00

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

100 (300.00) 0 19 (281.00)

200 (200.00) 0 19 (181.00)

300 (100.00) 0 19 (81.00)

400 - 0 19 19.00

500 100.00 0 19 119.00

600 200.00 0 19 219.00

700 300 0 19 319.00

800 400.00 (400.00) 19 19.00

900 500.00 (500.00) 19 19.00

1000 600.00 (600.00) 19 19.00

1100 700.00 (700.00) 19 19.00

1200 800.00 (800.00) 19 19.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

100 300.00 0 (19.00) 281.00

200 200.00 0 (19.00) 181.00

300 100.00 0 (19.00) 81.00

400 - 0 (19.00) (19.00)

500 (100.00) 0 (19.00) (119.00)

600 (200.00) 0 (19.00) (219.00)

700 -300 0 (19.00) (319.00)

800 (400.00) 400.00 (19.00) (19.00)

900 (500.00) 500.00 (19.00) (19.00)

1000 (600.00) 600.00 (19.00) (19.00)

1100 (700.00) 700.00 (19.00) (19.00)

1200 (800.00) 800.00 (19.00) (19.00)


ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

100 (300.00) 300.00 (9.00) (9.00)

200 (200.00) 200.00 (9.00) (9.00)

300 (100.00) 100.00 (9.00) (9.00)

400 - - (9.00) (9.00)

500 100.00 (100.00) (9.00) (9.00)

600 200.00 (200.00) (9.00) (9.00)

700 300 0 (9.00) 291.00

800 400.00 0 (9.00) 391.00

900 500.00 0 (9.00) 491.00

1000 600.00 0 (9.00) 591.00

1100 700.00 0 (9.00) 691.00

1200 800.00 0 (9.00) 791.00


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the strategy

100 300.00 (300.00) 9 9.00

200 200.00 (200.00) 9 9.00

300 100.00 (100.00) 9 9.00

400 - - 9 9.00

500 (100.00) 100.00 9 9.00

600 (200.00) 200.00 9 9.00

700 -300 0 9 (291.00)

800 (400.00) 0 9 (391.00)

900 (500.00) 0 9 (491.00)

1000 (600.00) 0 9 (591.00)

1100 (700.00) 0 9 (691.00)

1200 (800.00) 0 9 (791.00)





ST Long Stock

1 stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

100 (300.00) (290.50) (281.00) (262.00)

200 (200.00) (190.50) (181.00) (162.00)

300 (100.00) (90.50) (81.00) (62.00)

400 - 9.50 19.00 38.00

500 100.00 109.50 119.00 138.00

600 200.00 209.50 219.00 238.00

700 300 309.50 319.00 338.00

800 400.00 209.50 19.00 (362.00)

900 500.00 259.50 19.00 (462.00)

1000 600.00 309.50 19.00 (562.00)

1100 700.00 359.50 19.00 (662.00)

1200 800.00 409.50 19.00 (762.00)

C] Spread Position


Sx Co

400 19

200 25


ST

Bought Call

Pay off (Sx

= 200)

Written Call

Pay Off (Sx =

400)

Spread Pay

Off

100 (25.00) 19.00 (6.00)

200 (25.00) 19.00 (6.00)

300 (25.00) 19.00 (6.00)

400 (25.00) 19.00 (6.00)

500 (25.00) 19.00 (6.00)

600 375.00 19.00 394.00

700 475.00 19.00 494.00

800 575.00 (381.00) 194.00

900 675.00 (481.00) 194.00

1000 775.00 (581.00) 194.00

1100 875.00 (681.00) 194.00

1200 975.00 (781.00) 194.00



ST

Bought Call

Pay off (Sx

= 400)

Written Call

Pay Off (Sx =

200)

Spread Pay

Off

100 (19.00) 25.00 6.00

200 (19.00) 25.00 6.00

300 (19.00) 25.00 6.00

400 (19.00) 25.00 6.00

500 (19.00) 25.00 6.00

600 (19.00) (375.00) (394.00)

700 (19.00) (475.00) (494.00)

800 381.00 (575.00) (194.00)

900 481.00 (675.00) (194.00)

1000 581.00 (775.00) (194.00)

1100 681.00 (875.00) (194.00)

1200 781.00 (975.00) (194.00)


Sx P0

400 9

200 4


ST

Bought Put

Pay Off

(Sx= 200)

Written Put

Pay Off (Sx=

400)

Spread Pay

Off

100 96.00 (291.00) (195.00)

200 (4.00) (191.00) (195.00)

300 (104.00) (91.00) (195.00)

400 (204.00) 9.00 (195.00)

500 (4.00) 109.00 105.00

600 (4.00) 209.00 205.00

700 (4.00) 9.00 5.00

800 (4.00) 9.00 5.00

900 (4.00) 9.00 5.00

1000 (4.00) 9.00 5.00

1100 (4.00) 9.00 5.00

1200 (4.00) 9.00 5.00


ST

Bought Put

Pay Off

(Sx= 400)

Written Put

Pay Off (Sx=

200)

Spread Pay

Off

100 291.00 (96.00) 195.00

200 191.00 4.00 195.00

300 91.00 104.00 195.00

400 (9.00) 204.00 195.00

500 (109.00) 4.00 (105.00)

600 (209.00) 4.00 (205.00)

700 (9.00) 4.00 (5.00)

800 (9.00) 4.00 (5.00)

900 (9.00) 4.00 (5.00)

1000 (9.00) 4.00 (5.00)

1100 (9.00) 4.00 (5.00)

1200 (9.00) 4.00 (5.00)

3 Box Spread

Sx C0 P0

400 19 9

200 25 4

Bullish Trends

ST

Bought Call

Pay Off

(Sx= 200)

Written Put

Pay Off (Sx=

200)

Spead Pay

Off

100 (25.00) (96.00) (121.00)

200 (25.00) 4.00 (21.00)

300 (25.00) 104.00 79.00

400 (25.00) 204.00 179.00

500 (25.00) 4.00 (21.00)

600 375.00 4.00 379.00

700 475.00 4.00 479.00

800 575.00 4.00 579.00

900 675.00 4.00 679.00

1000 775.00 4.00 779.00

1100 875.00 4.00 879.00

1200 975.00 4.00 979.00

Bearish Trends

ST

Bought Call

Pay Off

(Sx= 400)

Written Put

Pay Off (Sx=

400)

Spead Pay

Off

100 (19.00) (291.00) (310.00)

200 (19.00) (191.00) (210.00)

300 (19.00) (91.00) (110.00)

400 (19.00) 9.00 (10.00)

500 (19.00) 109.00 90.00

600 (19.00) 209.00 190.00

700 (19.00) 9.00 (10.00)

800 381.00 9.00 390.00

900 481.00 9.00 490.00

1000 581.00 9.00 590.00

1100 681.00 9.00 690.00

1200 781.00 9.00 790.00

4 Butterfly Spread




Sx C0

200 25

300 22

400 19

ST

Bought Call

(Sx= 200)

Bought Call

(Sx= 400)

Written 2

Call (Sx=

300)

Value of

Butterfly

Spread

100 (25.00) (19.00) 44.00 -

200 (25.00) (19.00) 44.00 -

300 (25.00) (19.00) 44.00 -

400 (25.00) (19.00) 44.00 -

500 (25.00) (19.00) 44.00 -

600 375.00 (19.00) 44.00 400.00

700 475.00 (19.00) (756.00) (300.00)

800 575.00 381.00 (956.00) -

900 675.00 481.00 (1,156.00) -

1000 775.00 581.00 (1,356.00) -

1100 875.00 681.00 (1,556.00) -

1200 975.00 781.00 (1,756.00) -






Sx C0 P0

400 19 -

300 22 -

200 - 4

100 - 6

ST

Gain from

Bougth Call

(Sx= 400)

Gain from

Written Call

(Sx= 300)

Gain from

Bougth Put

(Sx= 200)

Gain from

Written Put

(Sx= 100)

Gain

from Iron

Condor

Strategy

100 (19.00) 22.00 96.00 6.00 105.00

200 (19.00) 22.00 (4.00) 106.00 105.00

300 (19.00) 22.00 (104.00) 206.00 105.00

400 (19.00) 22.00 (204.00) 6.00 (195.00)

500 (19.00) 22.00 (4.00) 6.00 5.00

600 (19.00) 22.00 (4.00) 6.00 5.00

700 (19.00) (378.00) (4.00) 6.00 (395.00)

800 381.00 (478.00) (4.00) 6.00 (95.00)

900 481.00 (578.00) (4.00) 6.00 (95.00)

1000 581.00 (678.00) (4.00) 6.00 (95.00)

1100 681.00 (778.00) (4.00) 6.00 (95.00)

1200 781.00 (878.00) (4.00) 6.00 (95.00)

D] Combinations


ST

Bought

Straddles

Written

Straddles

100 272.00 (272.00)

200 172.00 (172.00)

300 72.00 (72.00)

400 (28.00) 28.00

500 (128.00) 128.00

600 (228.00) 228.00

700 (28.00) 28.00

800 372.00 (372.00)

900 472.00 (472.00)

1000 572.00 (572.00)

1100 672.00 (672.00)

1200 772.00 (772.00)


ST

Bought

Strips

Written

Strips

100 563.00 (563.00)

200 363.00 (363.00)

300 163.00 (163.00)

400 (37.00) 37.00

500 (237.00) 237.00

600 (437.00) 437.00

700 (37.00) 37.00

800 363.00 (363.00)

900 463.00 (463.00)

1000 563.00 (563.00)

1100 663.00 (663.00)

1200 763.00 (763.00)


ST

Bought

Straps

Written

Straps

100 253.00 (253.00)

200 153.00 (153.00)

300 53.00 (53.00)

400 (47.00) 47.00

500 (147.00) 147.00

600 (247.00) 247.00

700 (47.00) 47.00

800 753.00 (753.00)

900 953.00 (953.00)

1000 1,153.00 (1,153.00)

1100 1,353.00 (1,353.00)

1200 1,553.00 (1,553.00)

4 Strangles

Sx 2 500

ST

Gain from

the Bought

Call (Sx=

400)

Gain from the

Bought put

(Sx= 500)

Gain from

the

Strategy

100 (19.00) 391.00 372.00

200 (19.00) 291.00 272.00

300 (19.00) 191.00 172.00

400 (19.00) 91.00 72.00

500 (19.00) (9.00) (28.00)

600 (19.00) (109.00) (128.00)

700 (19.00) (209.00) (228.00)

800 381.00 (9.00) 372.00

900 481.00 (9.00) 472.00

1000 581.00 (9.00) 572.00

1100 681.00 (9.00) 672.00

1200 781.00 (9.00) 772.00

St = 150.00 Expiry Date= 3/27/2014 Co= 19

Po= 14



ST P&L

90 (60.00)

100 (50.00)

110 (40.00)

120 (30.00)

130 (20.00)

140 (10.00)

150 -

160 10.00

170 20.00

180 30.00

190 40.00

200 50.00


ST P&L

90 60.00

100 50.00

110 40.00

120 30.00

130 20.00

140 10.00

150 -

160 (10.00)

170 (20.00)

180 (30.00)

190 (40.00)

200 (50.00)


DLF

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

90 100 110 120 130

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

90 100 110 120 130


ST C0 P&L

90 19 (19.00)

100 19 (19.00)

110 19 (19.00)

120 19 (19.00)

130 19 (19.00)

140 19 (19.00)

150 19 (19.00)

160 19 (9.00)

170 19 1.00

180 19 11.00

190 19 21.00

200 19 31.00


ST C0 P&L

90 19 19.00

100 19 19.00

110 19 19.00

120 19 19.00

130 19 19.00

140 19 19.00

150 19 19.00

160 19 9.00

170 19 (1.00)

180 19 (11.00)

190 19 (21.00)

200 19 (31.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

90 100 110 120 130

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

90 100 110 120 130


ST P0 P&L

90 14 46.00

100 14 36.00

110 14 26.00

120 14 16.00

130 14 6.00

140 14 (4.00)

150 14 (14.00)

160 14 (14.00)

170 14 (14.00)

180 14 (14.00)

190 14 (14.00)

200 14 (14.00)


ST P0 P&L

90 14 (46.00)

100 14 (36.00)

110 14 (26.00)

120 14 (16.00)

130 14 (6.00)

140 14 4.00

150 14 14.00

160 14 14.00

170 14 14.00

180 14 14.00

190 14 14.00

200 14 14.00 (50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

90 100 110 120 130

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

90 100

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered

call

90 (60.00) 0 19 (41.00)

100 (50.00) 0 19 (31.00)

110 (40.00) 0 19 (21.00)

120 (30.00) 0 19 (11.00)

130 (20.00) 0 19 (1.00)

140 (10.00) 0 19 9.00

150 0 0 19 19.00

160 10.00 (10.00) 19 19.00

170 20.00 (20.00) 19 19.00

180 30.00 (30.00) 19 19.00

190 40.00 (40.00) 19 19.00

200 50.00 (50.00) 19 19.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

90 60.00 0 (19.00) 41.00

100 50.00 0 (19.00) 31.00

110 40.00 0 (19.00) 21.00

120 30.00 0 (19.00) 11.00

130 20.00 0 (19.00) 1.00

140 10.00 0 (19.00) (9.00)

150 0 0 (19.00) (19.00)

160 (10.00) 10.00 (19.00) (19.00)

170 (20.00) 20.00 (19.00) (19.00)

180 (30.00) 30.00 (19.00) (19.00)

190 (40.00) 40.00 (19.00) (19.00)

200 (50.00) 50.00 (19.00) (19.00) (30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

90 100 110 120 130 140

P&L from Reverse Hedge

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

90 100 110 120 130 140 150

P&L fron covered call


ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

90 (60.00) 60.00 (14.00) (14.00)

100 (50.00) 50.00 (14.00) (14.00)

110 (40.00) 40.00 (14.00) (14.00)

120 (30.00) 30.00 (14.00) (14.00)

130 (20.00) 20.00 (14.00) (14.00)

140 (10.00) 10.00 (14.00) (14.00)

150 0 0 (14.00) (14.00)

160 10.00 0 (14.00) (4.00)

170 20.00 0 (14.00) 6.00

180 30.00 0 (14.00) 16.00

190 40.00 0 (14.00) 26.00

200 50.00 0 (14.00) 36.00


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the

strategy

90 60.00 (60.00) 14 14.00

100 50.00 (50.00) 14 14.00

110 40.00 (40.00) 14 14.00

120 30.00 (30.00) 14 14.00

130 20.00 (20.00) 14 14.00

140 10.00 (10.00) 14 14.00

150 0 0 14 14.00

160 (10.00) 0 14 4.00

170 (20.00) 0 14 (6.00)

180 (30.00) 0 14 (16.00)

190 (40.00) 0 14 (26.00)

200 (50.00) 0 14 (36.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

90 100 110 120 130

P&L from the strategy

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

90 100110120

P&L from Protective Put





ST Long Stock

1 stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

90 (60.00) (50.50) (41.00) (22.00)

100 (50.00) (40.50) (31.00) (12.00)

110 (40.00) (30.50) (21.00) (2.00)

120 (30.00) (20.50) (11.00) 8.00

130 (20.00) (10.50) (1.00) 18.00

140 (10.00) (0.50) 9.00 28.00

150 0 9.50 19.00 38.00

160 10.00 14.50 19.00 28.00

170 20.00 19.50 19.00 18.00

180 30.00 24.50 19.00 8.00

190 40.00 29.50 19.00 (2.00)

200 50.00 34.50 19.00 (12.00)

C] Spread Position


Sx Co

150 19

130 25


ST

Bought Call

Pay off (Sx =

130)

Written Call

Pay Off (Sx =

150)

Spread Pay

Off

90 (25.00) 19.00 (6.00)

100 (25.00) 19.00 (6.00)

110 (25.00) 19.00 (6.00)

120 (25.00) 19.00 (6.00)

130 (25.00) 19.00 (6.00)

140 (15.00) 19.00 4.00

150 (5.00) 19.00 14.00

160 5.00 9.00 14.00

170 15.00 (1.00) 14.00

180 25.00 (11.00) 14.00

190 35.00 (21.00) 14.00

200 45.00 (31.00) 14.00


(10.00)

(5.00)

-

5.00

10.00

15.00

90 100 110 120 130 140

Spread Pay Off

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

90 100 110 120 130


ST

Bought Call

Pay off (Sx =

150)

Written Call

Pay Off (Sx =

130)

Spread Pay

Off

90 (19.00) 25.00 6.00

100 (19.00) 25.00 6.00

110 (19.00) 25.00 6.00

120 (19.00) 25.00 6.00

130 (19.00) 25.00 6.00

140 (19.00) 15.00 (4.00)

150 (19.00) 5.00 (14.00)

160 (9.00) (5.00) (14.00)

170 1.00 (15.00) (14.00)

180 11.00 (25.00) (14.00)

190 21.00 (35.00) (14.00)

200 31.00 (45.00) (14.00)


Sx P0

150 14

130 9


ST

Bought Put

Pay Off (Sx=

130)

Written Put

Pay Off (Sx=

150)

Spread Pay

Off

90 31.00 (46.00) (15.00)

100 21.00 (36.00) (15.00)

110 11.00 (26.00) (15.00)

120 1.00 (16.00) (15.00)

130 (9.00) (6.00) (15.00)

140 (9.00) 4.00 (5.00)

150 (9.00) 14.00 5.00

160 (9.00) 14.00 5.00

170 (9.00) 14.00 5.00

180 (9.00) 14.00 5.00

190 (9.00) 14.00 5.00

200 (9.00) 14.00 5.00

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

10.00

90 100 110 120 130 140

Spread Pay Off

(15.00)

(10.00)

(5.00)

-

5.00

10.00

90 100 110 120 130 140

Spread Pay Off


ST

Bought Put

Pay Off (Sx=

150)

Written Put

Pay Off (Sx=

130)

Spread Pay

Off

90 46.00 (31.00) 15.00

100 36.00 (21.00) 15.00

110 26.00 (11.00) 15.00

120 16.00 (1.00) 15.00

130 6.00 9.00 15.00

140 (4.00) 9.00 5.00

150 (14.00) 9.00 (5.00)

160 (14.00) 9.00 (5.00)

170 (14.00) 9.00 (5.00)

180 (14.00) 9.00 (5.00)

190 (14.00) 9.00 (5.00)

200 (14.00) 9.00 (5.00)

3 Box Spread

Sx C0 P0

150 19 14

130 25 9

Bullish Trends

ST

Bought Call

Pay Off (Sx=

130)

Written Put

Pay Off (Sx=

130)

Spead Pay

Off

90 (25.00) (31.00) (56.00)

100 (25.00) (21.00) (46.00)

110 (25.00) (11.00) (36.00)

120 (25.00) (1.00) (26.00)

130 (25.00) 9.00 (16.00)

140 (15.00) 9.00 (6.00)

150 (5.00) 9.00 4.00

160 5.00 9.00 14.00

170 15.00 9.00 24.00

180 25.00 9.00 34.00

190 35.00 9.00 44.00

200 45.00 9.00 54.00

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

90 100 110 120 130 140

Spead Pay Off

(10.00)

(5.00)

-

5.00

10.00

15.00

20.00

90 100 110 120 130 140

Spread Pay Off

Bearish Trends

ST

Bought Call

Pay Off (Sx=

150)

Written Put

Pay Off (Sx=

150)

Spead Pay

Off

90 (19.00) (46.00) (65.00)

100 (19.00) (36.00) (55.00)

110 (19.00) (26.00) (45.00)

120 (19.00) (16.00) (35.00)

130 (19.00) (6.00) (25.00)

140 (19.00) 4.00 (15.00)

150 (19.00) 14.00 (5.00)

160 (9.00) 14.00 5.00

170 1.00 14.00 15.00

180 11.00 14.00 25.00

190 21.00 14.00 35.00

200 31.00 14.00 45.00

4 Butterfly Spread




Sx C0

130 25

140 22

150 19

ST

Bought Call

(Sx= 130)

Bought Call

(Sx= 150)

Written 2

Call (Sx= 140)

Value of

Butterfly

Spread

90 (25.00) (19.00) 44.00 -

100 (25.00) (19.00) 44.00 -

110 (25.00) (19.00) 44.00 -

120 (25.00) (19.00) 44.00 -

130 (25.00) (19.00) 44.00 -

140 (15.00) (19.00) 44.00 10.00

150 (5.00) (19.00) 24.00 -

160 5.00 (9.00) 4.00 -

170 15.00 1.00 (16.00) -

180 25.00 11.00 (36.00) -

190 35.00 21.00 (56.00) -

200 45.00 31.00 (76.00) - -

2.00

4.00

6.00

8.00

10.00

12.00

90 100

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

90 100 110 120 130 140

Spead Pay Off






Sx C0 P0

150 19 -

140 25 -

130 - 9

120 - 13

ST

Gain from

Bougth Call

(Sx= 150)

Gain from

Written Call

(Sx= 140)

Gain from

Bougth Put

(Sx= 130)

Gain from

Written

Put (Sx=

120)

Gain

from Iron

Condor

Strategy

90 (19.00) 25.00 31.00 (17.00) 20.00

100 (19.00) 25.00 21.00 (7.00) 20.00

110 (19.00) 25.00 11.00 3.00 20.00

120 (19.00) 25.00 1.00 13.00 20.00

130 (19.00) 25.00 (9.00) 13.00 10.00

140 (19.00) 25.00 (9.00) 13.00 10.00

150 (19.00) 15.00 (9.00) 13.00 -

160 (9.00) 5.00 (9.00) 13.00 -

170 1.00 (5.00) (9.00) 13.00 -

180 11.00 (15.00) (9.00) 13.00 -

190 21.00 (25.00) (9.00) 13.00 -

200 31.00 (35.00) (9.00) 13.00 -

D] Combinations


ST

Bought

Straddles

Written

Straddles

90 27.00 (27.00)

100 17.00 (17.00)

110 7.00 (7.00)

120 (3.00) 3.00

130 (13.00) 13.00

140 (23.00) 23.00

150 (33.00) 33.00

160 (23.00) 23.00

170 (13.00) 13.00

180 (3.00) 3.00

190 7.00 (7.00)

200 17.00 (17.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

90 100 110 120 130 140

5.00

10.00

15.00

20.00

25.00


ST

Bought

Strips

Written

Strips

90 73.00 (73.00)

100 53.00 (53.00)

110 33.00 (33.00)

120 13.00 (13.00)

130 (7.00) 7.00

140 (27.00) 27.00

150 (47.00) 47.00

160 (37.00) 37.00

170 (27.00) 27.00

180 (17.00) 17.00

190 (7.00) 7.00

200 3.00 (3.00)


ST

Bought

Straps

Written

Straps

90 8.00 (8.00)

100 (2.00) 2.00

110 (12.00) 12.00

120 (22.00) 22.00

130 (32.00) 32.00

140 (42.00) 42.00

150 (52.00) 52.00

160 (32.00) 32.00

170 (12.00) 12.00

180 8.00 (8.00)

190 28.00 (28.00)

200 48.00 (48.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

90 100 110 120 130 140

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

100.00

90 100 110 120 130 140

4 Strangles

Sx 2 160

ST

Gain from

the Bought

Call (Sx= 150)

Gain from

the Bought

put (Sx= 160)

Gain from

the Strategy

90 (19.00) 56.00 37.00

100 (19.00) 46.00 27.00

110 (19.00) 36.00 17.00

120 (19.00) 26.00 7.00

130 (19.00) 16.00 (3.00)

140 (19.00) 6.00 (13.00)

150 (19.00) (4.00) (23.00)

160 (9.00) (14.00) (23.00)

170 1.00 (14.00) (13.00)

180 11.00 (14.00) (3.00)

190 21.00 (14.00) 7.00

200 31.00 (14.00) 17.00

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

90 100 110 120 130 140 150

Gain from the Strategy

St = 100.00 Expiry Date= 3/27/2014 Co= 7.5

Po= 1.8



ST P&L

40 (60.00)

50 (50.00)

60 (40.00)

70 (30.00)

80 (20.00)

90 (10.00)

100 -

110 10.00

120 20.00

130 30.00

140 40.00

150 50.00


ST P&L

40 60.00

50 50.00

60 40.00

70 30.00

80 20.00

90 10.00

100 -

110 (10.00)

120 (20.00)

130 (30.00)

140 (40.00)

150 (50.00)


Hindalco

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

40 50 60 70 80

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70


ST C0 P&L

40 7.5 (7.50)

50 7.5 (7.50)

60 7.5 (7.50)

70 7.5 (7.50)

80 7.5 (7.50)

90 7.5 (7.50)

100 7.5 (7.50)

110 7.5 2.50

120 7.5 12.50

130 7.5 22.50

140 7.5 32.50

150 7.5 42.50


ST C0 P&L

40 7.5 7.50

50 7.5 7.50

60 7.5 7.50

70 7.5 7.50

80 7.5 7.50

90 7.5 7.50

100 7.5 7.50

110 7.5 (2.50)

120 7.5 (12.50)

130 7.5 (22.50)

140 7.5 (32.50)

150 7.5 (42.50)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

40 50 60 70 80

(10.00)

-

10.00

20.00

30.00

40.00

50.00

40 50 60 70 80


ST P0 P&L

40 1.8 58.20

50 1.8 48.20

60 1.8 38.20

70 1.8 28.20

80 1.8 18.20

90 1.8 8.20

100 1.8 (1.80)

110 1.8 (1.80)

120 1.8 (1.80)

130 1.8 (1.80)

140 1.8 (1.80)

150 1.8 (1.80)


ST P0 P&L

40 1.8 (58.20)

50 1.8 (48.20)

60 1.8 (38.20)

70 1.8 (28.20)

80 1.8 (18.20)

90 1.8 (8.20)

100 1.8 1.80

110 1.8 1.80

120 1.8 1.80

130 1.8 1.80

140 1.8 1.80

150 1.8 1.80

(70.00)

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

40 50 60 70 80

(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

70.00

40 50 60 70 80

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

40 (60.00) 0 7.5 (52.50)

50 (50.00) 0 7.5 (42.50)

60 (40.00) 0 7.5 (32.50)

70 (30.00) 0 7.5 (22.50)

80 (20.00) 0 7.5 (12.50)

90 (10.00) 0 7.5 (2.50)

100 0 0 7.5 7.50

110 10.00 (10.00) 7.5 7.50

120 20.00 (20.00) 7.5 7.50

130 30.00 (30.00) 7.5 7.50

140 40.00 (40.00) 7.5 7.50

150 50.00 (50.00) 7.5 7.50


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

40 60.00 0 (7.50) 52.50

50 50.00 0 (7.50) 42.50

60 40.00 0 (7.50) 32.50

70 30.00 0 (7.50) 22.50

80 20.00 0 (7.50) 12.50

90 10.00 0 (7.50) 2.50

100 0 0 (7.50) (7.50)

110 (10.00) 10.00 (7.50) (7.50)

120 (20.00) 20.00 (7.50) (7.50)

130 (30.00) 30.00 (7.50) (7.50)

140 (40.00) 40.00 (7.50) (7.50)

150 (50.00) 50.00 (7.50) (7.50) (20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

40 50 60 70 80 90 100


(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

40 50 60 70 80 90



ST

G/L from

Stock

Value of

Bought Put Put Prem. Paid

P&L from

Protective

Put

40 (60.00) 60.00 (1.80) (1.80)

50 (50.00) 50.00 (1.80) (1.80)

60 (40.00) 40.00 (1.80) (1.80)

70 (30.00) 30.00 (1.80) (1.80)

80 (20.00) 20.00 (1.80) (1.80)

90 (10.00) 10.00 (1.80) (1.80)

100 0 0 (1.80) (1.80)

110 10.00 0 (1.80) 8.20

120 20.00 0 (1.80) 18.20

130 30.00 0 (1.80) 28.20

140 40.00 0 (1.80) 38.20

150 50.00 0 (1.80) 48.20


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the strategy

40 60.00 (60.00) 1.8 1.80

50 50.00 (50.00) 1.8 1.80

60 40.00 (40.00) 1.8 1.80

70 30.00 (30.00) 1.8 1.80

80 20.00 (20.00) 1.8 1.80

90 10.00 (10.00) 1.8 1.80

100 0 0 1.8 1.80

110 (10.00) 0 1.8 (8.20)

120 (20.00) 0 1.8 (18.20)

130 (30.00) 0 1.8 (28.20)

140 (40.00) 0 1.8 (38.20)

150 (50.00) 0 1.8 (48.20)

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

40 50 60 70 80 90


(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

40 50 60 70 80 90 100






ST Long Stock

1

stock+1/2

call write

1 stock+1 call

write

1 stock+2

calls write

40 (60.00) (56.25) (52.50) (45.00)

50 (50.00) (46.25) (42.50) (35.00)

60 (40.00) (36.25) (32.50) (25.00)

70 (30.00) (26.25) (22.50) (15.00)

80 (20.00) (16.25) (12.50) (5.00)

90 (10.00) (6.25) (2.50) 5.00

100 0 3.75 7.50 15.00

110 10.00 8.75 7.50 5.00

120 20.00 13.75 7.50 (5.00)

130 30.00 18.75 7.50 (15.00)

140 40.00 23.75 7.50 (25.00)

150 50.00 28.75 7.50 (35.00)

C] Spread Position


Sx Co

100 7.5

80 9


ST

Bought Call

Pay off (Sx =

80)

Written Call

Pay Off (Sx

= 100)

Spread Pay

Off

40 (9.00) 7.50 (1.50)

50 (9.00) 7.50 (1.50)

60 (9.00) 7.50 (1.50)

70 (9.00) 7.50 (1.50)

80 (9.00) 7.50 (1.50)

90 1.00 7.50 8.50

100 11.00 7.50 18.50

110 21.00 (2.50) 18.50

120 31.00 (12.50) 18.50

130 41.00 (22.50) 18.50

140 51.00 (32.50) 18.50

150 61.00 (42.50) 18.50


(5.00)

-

5.00

10.00

15.00

20.00

40 50 60 70 80 90

Spread Pay Off

(70.00)

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

40 50 60 70 80 90


ST

Bought Call

Pay off (Sx =

100)

Written Call

Pay Off (Sx

=80)

Spread Pay

Off

40 (7.50) 9.00 1.50

50 (7.50) 9.00 1.50

60 (7.50) 9.00 1.50

70 (7.50) 9.00 1.50

80 (7.50) 9.00 1.50

90 (7.50) (1.00) (8.50)

100 (7.50) (11.00) (18.50)

110 2.50 (21.00) (18.50)

120 12.50 (31.00) (18.50)

130 22.50 (41.00) (18.50)

140 32.50 (51.00) (18.50)

150 42.50 (61.00) (18.50)


Sx P0

100 1.8

80 1.2


ST

Bought Put

Pay Off (Sx=

80)

Written Put

Pay Off (Sx=

100)

Spread Pay

Off

40 38.80 (58.20) (19.40)

50 28.80 (48.20) (19.40)

60 18.80 (38.20) (19.40)

70 8.80 (28.20) (19.40)

80 (1.20) (18.20) (19.40)

90 (1.20) (8.20) (9.40)

100 (1.20) 1.80 0.60

110 (1.20) 1.80 0.60

120 (1.20) 1.80 0.60

130 (1.20) 1.80 0.60

140 (1.20) 1.80 0.60

150 (1.20) 1.80 0.60

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

40 50 60 70 80 90

Spread Pay Off

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

40 50 60 70 80 90

Spread Pay Off


ST

Bought Put

Pay Off (Sx=

100)

Written Put

Pay Off (Sx=

80)

Spread Pay

Off

40 58.20 (38.80) 19.40

50 48.20 (28.80) 19.40

60 38.20 (18.80) 19.40

70 28.20 (8.80) 19.40

80 18.20 1.20 19.40

90 8.20 1.20 9.40

100 (1.80) 1.20 (0.60)

110 (1.80) 1.20 (0.60)

120 (1.80) 1.20 (0.60)

130 (1.80) 1.20 (0.60)

140 (1.80) 1.20 (0.60)

150 (1.80) 1.20 (0.60)

3 Box Spread

Sx C0 P0

100 7.5 1.8

80 9 1.2

Bullish Trends

ST

Bought Call

Pay Off (Sx=

80)

Written Put

Pay Off (Sx=

80) Spead Pay Off

40 (9.00) (38.80) (47.80)

50 (9.00) (28.80) (37.80)

60 (9.00) (18.80) (27.80)

70 (9.00) (8.80) (17.80)

80 (9.00) 1.20 (7.80)

90 1.00 1.20 2.20

100 11.00 1.20 12.20

110 21.00 1.20 22.20

120 31.00 1.20 32.20

130 41.00 1.20 42.20

140 51.00 1.20 52.20

150 61.00 1.20 62.20

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

40 50 60 70 80

Spead Pay Off

(5.00)

-

5.00

10.00

15.00

20.00

25.00

40 50 60 70 80 90

Spread Pay Off

(25.00)

Bearish Trends

ST

Bought Call

Pay Off (Sx=

100)

Written Put

Pay Off (Sx=

100) Spead Pay Off

40 (7.50) (58.20) (65.70)

50 (7.50) (48.20) (55.70)

60 (7.50) (38.20) (45.70)

70 (7.50) (28.20) (35.70)

80 (7.50) (18.20) (25.70)

90 (7.50) (8.20) (15.70)

100 (7.50) 1.80 (5.70)

110 2.50 1.80 4.30

120 12.50 1.80 14.30

130 22.50 1.80 24.30

140 32.50 1.80 34.30

150 42.50 1.80 44.30

4 Butterfly Spread




Sx C0

80 9

90 8.4

100 7.5

ST

Bought Call

(Sx= 80)

Bought Call

(Sx= 100)

Written 2 Call

(Sx= 90)

Value of

Butterfly

Spread

40 (9.00) (7.50) 16.80 0.30

50 (9.00) (7.50) 16.80 0.30

60 (9.00) (7.50) 16.80 0.30

70 (9.00) (7.50) 16.80 0.30

80 (9.00) (7.50) 16.80 0.30

90 1.00 (7.50) 16.80 10.30

100 11.00 (7.50) (3.20) 0.30

110 21.00 2.50 (23.20) 0.30

120 31.00 12.50 (43.20) 0.30

130 41.00 22.50 (63.20) 0.30

140 51.00 32.50 (83.20) 0.30

150 61.00 42.50 (103.20) 0.30 -

2.00

4.00

6.00

8.00

10.00

12.00

40 50 60 70 80 90 100

Value of Butterfly Spread

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70 80

Spead Pay Off






Sx C0 P0

100 7.5 -

90 8.4 -

80 - 1.2

70 - 0.8

ST

Gain from

Bougth Call

(Sx= 100)

Gain from

Written Call

(Sx= 90)

Gain from

Bougth Put

(Sx= 80)

Gain from

Written Put

(Sx= 70)

Gain from

Iron

Condor

Strategy

40 (7.50) 8.40 38.80 (29.20) 10.50

50 (7.50) 8.40 28.80 (19.20) 10.50

60 (7.50) 8.40 18.80 (9.20) 10.50

70 (7.50) 8.40 8.80 0.80 10.50

80 (7.50) 8.40 (1.20) 0.80 0.50

90 (7.50) 8.40 (1.20) 0.80 0.50

100 (7.50) (1.60) (1.20) 0.80 (9.50)

110 2.50 (11.60) (1.20) 0.80 (9.50)

120 12.50 (21.60) (1.20) 0.80 (9.50)

130 22.50 (31.60) (1.20) 0.80 (9.50)

140 32.50 (41.60) (1.20) 0.80 (9.50)

150 42.50 (51.60) (1.20) 0.80 (9.50)

D] Combinations


ST

Bought

Straddles

Written

Straddles

40 50.70 (50.70)

50 40.70 (40.70)

60 30.70 (30.70)

70 20.70 (20.70)

80 10.70 (10.70)

90 0.70 (0.70)

100 (9.30) 9.30

110 0.70 (0.70)

120 10.70 (10.70)

130 20.70 (20.70)

140 30.70 (30.70)

150 40.70 (40.70) (60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70 80 90


ST

Bought

Strips

Written

Strips

40 108.90 (108.90)

50 88.90 (88.90)

60 68.90 (68.90)

70 48.90 (48.90)

80 28.90 (28.90)

90 8.90 (8.90)

100 (11.10) 11.10

110 (1.10) 1.10

120 8.90 (8.90)

130 18.90 (18.90)

140 28.90 (28.90)

150 38.90 (38.90)


ST

Bought

Straps

Written

Straps

40 43.20 (43.20)

50 33.20 (33.20)

60 23.20 (23.20)

70 13.20 (13.20)

80 3.20 (3.20)

90 (6.80) 6.80

100 (16.80) 16.80

110 3.20 (3.20)

120 23.20 (23.20)

130 43.20 (43.20)

140 63.20 (63.20)

150 83.20 (83.20) (100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

100.00

40 50 60 70 80 90

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

40 50 60 70 80

4 Strangles

Sx 2 110

ST

Gain from

the Bought

Call (Sx= 100)

Gain from

the Bought

put (Sx=

110)

Gain from the

Strategy

40 (7.50) 68.20 60.70

50 (7.50) 58.20 50.70

60 (7.50) 48.20 40.70

70 (7.50) 38.20 30.70

80 (7.50) 28.20 20.70

90 (7.50) 18.20 10.70

100 (7.50) 8.20 0.70

110 2.50 (1.80) 0.70

120 12.50 (1.80) 10.70

130 22.50 (1.80) 20.70

140 32.50 (1.80) 30.70

150 42.50 (1.80) 40.70 -

10.00

20.00

30.00

40.00

50.00

60.00

70.00

40 50 60 70 80 90 100


St = 350.00 Expiry Date= 3/27/2014 Co= 10

Po= 16



ST P&L

50 (300.00)

100 (250.00)

150 (200.00)

200 (150.00)

250 (100.00)

300 (50.00)

350 -

400 50.00

450 100.00

500 150.00

550 200.00

600 250.00


ST P&L

50 300.00

100 250.00

150 200.00

200 150.00

250 100.00

300 50.00

350 -

400 (50.00)

450 (100.00)

500 (150.00)

550 (200.00)

600 (250.00)


Tata Steel

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

400.00

50 100 150 200 250 300

P&L

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

50 100 150

P&L


ST C0 P&L

50 10 (10.00)

100 10 (10.00)

150 10 (10.00)

200 10 (10.00)

250 10 (10.00)

300 10 (10.00)

350 10 (10.00)

400 10 40.00

450 10 90.00

500 10 140.00

550 10 190.00

600 10 240.00


ST C0 P&L

50 10 10.00

100 10 10.00

150 10 10.00

200 10 10.00

250 10 10.00

300 10 10.00

350 10 10.00

400 10 (40.00)

450 10 (90.00)

500 10 (140.00)

550 10 (190.00)

600 10 (240.00)

(300.00)

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

50 100 150 200 250 300

P&L

(50.00)

-

50.00

100.00

150.00

200.00

250.00

300.00

50 100 150 200 250 300

P&L


ST P0 P&L

50 16 284.00

100 16 234.00

150 16 184.00

200 16 134.00

250 16 84.00

300 16 34.00

350 16 (16.00)

400 16 (16.00)

450 16 (16.00)

500 16 (16.00)

550 16 (16.00)

600 16 (16.00)


ST P0 P&L

50 16 (284.00)

100 16 (234.00)

150 16 (184.00)

200 16 (134.00)

250 16 (84.00)

300 16 (34.00)

350 16 16.00

400 16 16.00

450 16 16.00

500 16 16.00

550 16 16.00

600 16 16.00 (300.00)

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

50 100 150 200 250 300

P&L

(50.00)

-

50.00

100.00

150.00

200.00

250.00

300.00

50 100 150 200 250 300

P&L

(300.00)

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

50 (300.00) 0 10 (290.00)

100 (250.00) 0 10 (240.00)

150 (200.00) 0 10 (190.00)

200 (150.00) 0 10 (140.00)

250 (100.00) 0 10 (90.00)

300 (50.00) 0 10 (40.00)

350 0 0 10 10.00

400 50.00 (50.00) 10 10.00

450 100.00 (100.00) 10 10.00

500 150.00 (150.00) 10 10.00

550 200.00 (200.00) 10 10.00

600 250.00 (250.00) 10 10.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

50 300.00 0 (10.00) 290.00

100 250.00 0 (10.00) 240.00

150 200.00 0 (10.00) 190.00

200 150.00 0 (10.00) 140.00

250 100.00 0 (10.00) 90.00

300 50.00 0 (10.00) 40.00

350 0 0 (10.00) (10.00)

400 (50.00) 50.00 (10.00) (10.00)

450 (100.00) 100.00 (10.00) (10.00)

500 (150.00) 150.00 (10.00) (10.00)

550 (200.00) 200.00 (10.00) (10.00)

600 (250.00) 250.00 (10.00) (10.00)

(50.00)

-

50.00

100.00

150.00

200.00

250.00

300.00

350.00

50 100150200250300350


(350.00)

(300.00)

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

50 100 150 200 250 300 350 400



ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

50 (300.00) 300.00 (16.00) (16.00)

100 (250.00) 250.00 (16.00) (16.00)

150 (200.00) 200.00 (16.00) (16.00)

200 (150.00) 150.00 (16.00) (16.00)

250 (100.00) 100.00 (16.00) (16.00)

300 (50.00) 50.00 (16.00) (16.00)

350 0 0 (16.00) (16.00)

400 50.00 0 (16.00) 34.00

450 100.00 0 (16.00) 84.00

500 150.00 0 (16.00) 134.00

550 200.00 0 (16.00) 184.00

600 250.00 0 (16.00) 234.00


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the

strategy

50 300.00 (300.00) 16 16.00

100 250.00 (250.00) 16 16.00

150 200.00 (200.00) 16 16.00

200 150.00 (150.00) 16 16.00

250 100.00 (100.00) 16 16.00

300 50.00 (50.00) 16 16.00

350 0 0 16 16.00

400 (50.00) 0 16 (34.00)

450 (100.00) 0 16 (84.00)

500 (150.00) 0 16 (134.00)

550 (200.00) 0 16 (184.00)

600 (250.00) 0 16 (234.00)

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

50 100 150 200 250 300 350 400


(50.00)

-

50.00

100.00

150.00

200.00

250.00

50 100150200250300350400450






ST Long Stock

1

stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

50 (300.00) (295.00) (290.00) (280.00)

100 (250.00) (245.00) (240.00) (230.00)

150 (200.00) (195.00) (190.00) (180.00)

200 (150.00) (145.00) (140.00) (130.00)

250 (100.00) (95.00) (90.00) (80.00)

300 (50.00) (45.00) (40.00) (30.00)

350 0 5.00 10.00 20.00

400 50.00 30.00 10.00 (30.00)

450 100.00 55.00 10.00 (80.00)

500 150.00 80.00 10.00 (130.00)

550 200.00 105.00 10.00 (180.00)

600 250.00 130.00 10.00 (230.00)

C] Spread Position


Sx Co

350 10

330 12


ST

Bought Call

Pay off (Sx =

330)

Written Call

Pay Off (Sx

=350)

Spread Pay

Off

50 (12.00) 10.00 (2.00)

100 (12.00) 10.00 (2.00)

150 (12.00) 10.00 (2.00)

200 (12.00) 10.00 (2.00)

250 (12.00) 10.00 (2.00)

300 (42.00) 10.00 (32.00)

350 8.00 10.00 18.00

400 58.00 (40.00) 18.00

450 108.00 (90.00) 18.00

500 158.00 (140.00) 18.00

550 208.00 (190.00) 18.00

600 258.00 (240.00) 18.00


(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

50 100 150 200 250 300 350

Spread Pay Off

(350.00)

(300.00)

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

200.00

50 100 150 200 250 300 350 400

(250.00)


ST

Bought Call

Pay off (Sx =

350)

Written Call

Pay Off (Sx

= 330)

Spread Pay

Off

50 (10.00) 12.00 2.00

100 (10.00) 12.00 2.00

150 (10.00) 12.00 2.00

200 (10.00) 12.00 2.00

250 (10.00) 12.00 2.00

300 (10.00) 42.00 32.00

350 (10.00) (8.00) (18.00)

400 40.00 (58.00) (18.00)

450 90.00 (108.00) (18.00)

500 140.00 (158.00) (18.00)

550 190.00 (208.00) (18.00)

600 240.00 (258.00) (18.00)


Sx P0

350 16

330 12


ST

Bought Put

Pay Off (Sx=

330)

Written Put

Pay Off (Sx=

350)

Spread Pay

Off

50 268.00 (284.00) (16.00)

100 218.00 (234.00) (16.00)

150 168.00 (184.00) (16.00)

200 118.00 (134.00) (16.00)

250 (12.00) (84.00) (96.00)

300 (12.00) (34.00) (46.00)

350 (12.00) 16.00 4.00

400 (12.00) 16.00 4.00

450 (12.00) 16.00 4.00

500 (12.00) 16.00 4.00

550 (12.00) 16.00 4.00

600 (12.00) 16.00 4.00

(120.00)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

50 100 150 200 250 300 350

Spread Pay Off

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50 100 150 200 250 300 350

Spread Pay Off


ST

Bought Put

Pay Off (Sx=

350)

Written Put

Pay Off (Sx=

330)

Spread Pay

Off

50 284.00 (268.00) 16.00

100 234.00 (218.00) 16.00

150 184.00 (168.00) 16.00

200 134.00 (118.00) 16.00

250 84.00 12.00 96.00

300 34.00 12.00 46.00

350 (16.00) 12.00 (4.00)

400 (16.00) 12.00 (4.00)

450 (16.00) 12.00 (4.00)

500 (16.00) 12.00 (4.00)

550 (16.00) 12.00 (4.00)

600 (16.00) 12.00 (4.00)

3 Box Spread

Sx C0 P0

350 10 16

330 12 12

Bullish Trends

ST

Bought Call

Pay Off

(Sx=330)

Written Put

Pay Off (Sx=

330)

Spead Pay

Off

50 (12.00) (268.00) (280.00)

100 (12.00) (218.00) (230.00)

150 (12.00) (168.00) (180.00)

200 (12.00) (118.00) (130.00)

250 (12.00) 12.00 -

300 (42.00) 12.00 (30.00)

350 8.00 12.00 20.00

400 58.00 12.00 70.00

450 108.00 12.00 120.00

500 158.00 12.00 170.00

550 208.00 12.00 220.00

600 258.00 12.00 270.00

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

50 100 150 200 250 300 350

Spead Pay Off

(20.00)

-

20.00

40.00

60.00

80.00

100.00

120.00

50 100 150 200 250 300 350

Spread Pay Off

Bearish Trends

ST

Bought Call

Pay Off (Sx=

350)

Written Put

Pay Off (Sx=

350)

Spead Pay

Off

50 (10.00) (284.00) (294.00)

100 (10.00) (234.00) (244.00)

150 (10.00) (184.00) (194.00)

200 (10.00) (134.00) (144.00)

250 (10.00) (84.00) (94.00)

300 (10.00) (34.00) (44.00)

350 (10.00) 16.00 6.00

400 40.00 16.00 56.00

450 90.00 16.00 106.00

500 140.00 16.00 156.00

550 190.00 16.00 206.00

600 240.00 16.00 256.00

4 Butterfly Spread




Sx C0

330 12

340 11

350 10

ST

Bought Call

(Sx= 330)

Bought Call

(Sx= 350)

Written 2

Call (Sx=

340)

Value of

Butterfly

Spread

50 (12.00) (10.00) 22.00 -

100 (12.00) (10.00) 22.00 -

150 (12.00) (10.00) 22.00 -

200 (12.00) (10.00) 22.00 -

250 (12.00) (10.00) 22.00 -

300 (42.00) (10.00) 22.00 (30.00)

350 8.00 (10.00) 2.00 -

400 58.00 40.00 (98.00) -

450 108.00 90.00 (198.00) -

500 158.00 140.00 (298.00) -

550 208.00 190.00 (398.00) -

600 258.00 240.00 (498.00) -

(35.00)

(30.00)

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

50 100150200250300350400450


(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

50 100 150 200 250 300 350

Spead Pay Off






Sx C0 P0

350 10 -

340 11 -

330 - 12

320 - 10

ST

Gain from

Bougth Call

(Sx=350)

Gain from

Written Call

(Sx= 340)

Gain from

Bougth Put

(Sx= 330)

Gain from

Written Put

(Sx= 320)

Gain

from Iron

Condor

Strategy

50 (10.00) 11.00 268.00 (260.00) 9.00

100 (10.00) 11.00 218.00 (210.00) 9.00

150 (10.00) 11.00 168.00 (160.00) 9.00

200 (10.00) 11.00 118.00 10.00 129.00

250 (10.00) 11.00 (12.00) 10.00 (1.00)

300 (10.00) 11.00 (12.00) 10.00 (1.00)

350 (10.00) 1.00 (12.00) 10.00 (11.00)

400 40.00 (49.00) (12.00) 10.00 (11.00)

450 90.00 (99.00) (12.00) 10.00 (11.00)

500 140.00 (149.00) (12.00) 10.00 (11.00)

550 190.00 (199.00) (12.00) 10.00 (11.00)

600 240.00 (249.00) (12.00) 10.00 (11.00)

D] Combinations


ST

Bought

Straddles

Written

Straddles

50 274.00 (274.00)

100 224.00 (224.00)

150 174.00 (174.00)

200 124.00 (124.00)

250 74.00 (74.00)

300 24.00 (24.00)

350 (26.00) 26.00

400 24.00 (24.00)

450 74.00 (74.00)

500 124.00 (124.00)

550 174.00 (174.00)

600 224.00 (224.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

400.00

50 100 150 200 250 300 350 400

(20.00)

-

20.00

40.00

60.00

80.00

100.00

120.00

140.00

50


ST

Bought

Strips

Written

Strips

50 558.00 (558.00)

100 458.00 (458.00)

150 358.00 (358.00)

200 258.00 (258.00)

250 158.00 (158.00)

300 58.00 (58.00)

350 (42.00) 42.00

400 8.00 (8.00)

450 58.00 (58.00)

500 108.00 (108.00)

550 158.00 (158.00)

600 208.00 (208.00)


ST

Bought

Straps

Written

Straps

50 264.00 (264.00)

100 214.00 (214.00)

150 164.00 (164.00)

200 114.00 (114.00)

250 64.00 (64.00)

300 14.00 (14.00)

350 (36.00) 36.00

400 64.00 (64.00)

450 164.00 (164.00)

500 264.00 (264.00)

550 364.00 (364.00)

600 464.00 (464.00)

(600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

50 100 150 200 250 300 350

(800.00)

(600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

800.00

50 100 150 200 250 300 350

4 Strangles

Sx 2 360

ST

Gain from

the Bought

Call (Sx=

350)

Gain from

the Bought

put (Sx=

360)

Gain from

the Strategy

50 (10.00) 294.00 284.00

100 (10.00) 244.00 234.00

150 (10.00) 194.00 184.00

200 (10.00) 144.00 134.00

250 (10.00) 94.00 84.00

300 (10.00) 44.00 34.00

350 (10.00) (6.00) (16.00)

400 40.00 (16.00) 24.00

450 90.00 (16.00) 74.00

500 140.00 (16.00) 124.00

550 190.00 (16.00) 174.00

600 240.00 (16.00) 224.00

(50.00)

-

50.00

100.00

150.00

200.00

250.00

300.00

50 100 150 200 250 300 350 400 450


St = 100.00 Expiry Date= 3/27/2014 Co= 10

Po= 1.9



ST P&L

40 (60.00)

50 (50.00)

60 (40.00)

70 (30.00)

80 (20.00)

90 (10.00)

100 -

110 10.00

120 20.00

130 30.00

140 40.00

150 50.00


ST P&L

40 60.00

50 50.00

60 40.00

70 30.00

80 20.00

90 10.00

100 -

110 (10.00)

120 (20.00)

130 (30.00)

140 (40.00)

150 (50.00)


State Bank of India

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

40 50 60 70 80 90 100

P&L

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70 80 90 100

P&L


ST C0 P&L

40 10 (10.00)

50 10 (10.00)

60 10 (10.00)

70 10 (10.00)

80 10 (10.00)

90 10 (10.00)

100 10 (10.00)

110 10 -

120 10 10.00

130 10 20.00

140 10 30.00

150 10 40.00


ST C0 P&L

40 10 10.00

50 10 10.00

60 10 10.00

70 10 10.00

80 10 10.00

90 10 10.00

100 10 10.00

110 10 -

120 10 (10.00)

130 10 (20.00)

140 10 (30.00)

150 10 (40.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

40 50 60 70 80 90 100

P&L

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

40 50 60 70 80 90 100

P&L


ST P0 P&L

40 1.9 58.10

50 1.9 48.10

60 1.9 38.10

70 1.9 28.10

80 1.9 18.10

90 1.9 8.10

100 1.9 (1.90)

110 1.9 (1.90)

120 1.9 (1.90)

130 1.9 (1.90)

140 1.9 (1.90)

150 1.9 (1.90)


ST P0 P&L

40 1.9 (58.10)

50 1.9 (48.10)

60 1.9 (38.10)

70 1.9 (28.10)

80 1.9 (18.10)

90 1.9 (8.10)

100 1.9 1.90

110 1.9 1.90

120 1.9 1.90

130 1.9 1.90

140 1.9 1.90

150 1.9 1.90

(70.00)

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

40 50 60 70 80 90 100

P&L

(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

70.00

40 50 60 70 80 90 100

P&L

B] Hedged Position


ST

G/L from

Stock

Value of

Written Call

Call Prem.

Received

P&L fron

covered call

40 (60.00) 0 10 (50.00)

50 (50.00) 0 10 (40.00)

60 (40.00) 0 10 (30.00)

70 (30.00) 0 10 (20.00)

80 (20.00) 0 10 (10.00)

90 (10.00) 0 10 -

100 0 0 10 10.00

110 10.00 (10.00) 10 10.00

120 20.00 (20.00) 10 10.00

130 30.00 (30.00) 10 10.00

140 40.00 (40.00) 10 10.00

150 50.00 (50.00) 10 10.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

40 60.00 0 (10.00) 50.00

50 50.00 0 (10.00) 40.00

60 40.00 0 (10.00) 30.00

70 30.00 0 (10.00) 20.00

80 20.00 0 (10.00) 10.00

90 10.00 0 (10.00) -

100 0 0 (10.00) (10.00)

110 (10.00) 10.00 (10.00) (10.00)

120 (20.00) 20.00 (10.00) (10.00)

130 (30.00) 30.00 (10.00) (10.00)

140 (40.00) 40.00 (10.00) (10.00)

150 (50.00) 50.00 (10.00) (10.00) (20.00)

(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

40 50 60 70 80 90 100110120130


(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

40 50 60 70 80 90 100 110 120



ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

40 (60.00) 60.00 (1.90) (1.90)

50 (50.00) 50.00 (1.90) (1.90)

60 (40.00) 40.00 (1.90) (1.90)

70 (30.00) 30.00 (1.90) (1.90)

80 (20.00) 20.00 (1.90) (1.90)

90 (10.00) 10.00 (1.90) (1.90)

100 0 0 (1.90) (1.90)

110 10.00 0 (1.90) 8.10

120 20.00 0 (1.90) 18.10

130 30.00 0 (1.90) 28.10

140 40.00 0 (1.90) 38.10

150 50.00 0 (1.90) 48.10


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the strategy

40 60.00 (60.00) 1.9 1.90

50 50.00 (50.00) 1.9 1.90

60 40.00 (40.00) 1.9 1.90

70 30.00 (30.00) 1.9 1.90

80 20.00 (20.00) 1.9 1.90

90 10.00 (10.00) 1.9 1.90

100 0 0 1.9 1.90

110 (10.00) 0 1.9 (8.10)

120 (20.00) 0 1.9 (18.10)

130 (30.00) 0 1.9 (28.10)

140 (40.00) 0 1.9 (38.10)

150 (50.00) 0 1.9 (48.10)

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

40 50 60 70 80 90 100 110 120


(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

40 50 60 70 80 90 100110120130






ST Long Stock

1 stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

40 (60.00) (55.00) (50.00) (40.00)

50 (50.00) (45.00) (40.00) (30.00)

60 (40.00) (35.00) (30.00) (20.00)

70 (30.00) (25.00) (20.00) (10.00)

80 (20.00) (15.00) (10.00) -

90 (10.00) (5.00) - 10.00

100 0 5.00 10.00 20.00

110 10.00 10.00 10.00 10.00

120 20.00 15.00 10.00 -

130 30.00 20.00 10.00 (10.00)

140 40.00 25.00 10.00 (20.00)

150 50.00 30.00 10.00 (30.00)

C] Spread Position


Sx Co

100 10

80 13


ST

Bought Call

Pay off (Sx =

80)

Written Call

Pay Off (Sx =

100)

Spread Pay

Off

40 (13.00) 10.00 (3.00)

50 (13.00) 10.00 (3.00)

60 (13.00) 10.00 (3.00)

70 (13.00) 10.00 (3.00)

80 (13.00) 10.00 (3.00)

90 (3.00) 10.00 7.00

100 7.00 10.00 17.00

110 17.00 - 17.00

120 27.00 (10.00) 17.00

130 37.00 (20.00) 17.00

140 47.00 (30.00) 17.00

150 57.00 (40.00) 17.00


(5.00)

-

5.00

10.00

15.00

20.00

40 50 60 70 80 90 100 110

Spread Pay Off

(60.00)

(50.00)

(40.00)

(30.00)

(20.00)

(10.00)

-

10.00

20.00

30.00

40.00

40 50 60 70 80 90 100 110 120


ST

Bought Call

Pay off (Sx =

100)

Written Call

Pay Off (Sx =

80)

Spread Pay

Off

40 (10.00) 13.00 3.00

50 (10.00) 13.00 3.00

60 (10.00) 13.00 3.00

70 (10.00) 13.00 3.00

80 (10.00) 13.00 3.00

90 (10.00) 3.00 (7.00)

100 (10.00) (7.00) (17.00)

110 - (17.00) (17.00)

120 10.00 (27.00) (17.00)

130 20.00 (37.00) (17.00)

140 30.00 (47.00) (17.00)

150 40.00 (57.00) (17.00)


Sx P0

100 1.9

80 1.2


ST

Bought Put

Pay Off (Sx=

80)

Written Put

Pay Off (Sx=

100)

Spread Pay

Off

40 38.80 (58.10) (19.30)

50 28.80 (48.10) (19.30)

60 18.80 (38.10) (19.30)

70 8.80 (28.10) (19.30)

80 (1.20) (18.10) (19.30)

90 (1.20) (8.10) (9.30)

100 (1.20) 1.90 0.70

110 (1.20) 1.90 0.70

120 (1.20) 1.90 0.70

130 (1.20) 1.90 0.70

140 (1.20) 1.90 0.70

150 (1.20) 1.90 0.70

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

40 50 60 70 80 90 100 110

Spread Pay Off

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

40 50 60 70 80 90 100 110

Spread Pay Off


ST

Bought Put

Pay Off (Sx=

100)

Written Put

Pay Off (Sx=

80)

Spread Pay

Off

40 58.10 (38.80) 19.30

50 48.10 (28.80) 19.30

60 38.10 (18.80) 19.30

70 28.10 (8.80) 19.30

80 18.10 1.20 19.30

90 8.10 1.20 9.30

100 (1.90) 1.20 (0.70)

110 (1.90) 1.20 (0.70)

120 (1.90) 1.20 (0.70)

130 (1.90) 1.20 (0.70)

140 (1.90) 1.20 (0.70)

150 (1.90) 1.20 (0.70)

3 Box Spread

Sx C0 P0

100 10 1.9

80 13 1.2

Bullish Trends

ST

Bought Call

Pay Off (Sx=

80)

Written Put

Pay Off (Sx=

80)

Spead Pay

Off

40 (13.00) (38.80) (51.80)

50 (13.00) (28.80) (41.80)

60 (13.00) (18.80) (31.80)

70 (13.00) (8.80) (21.80)

80 (13.00) 1.20 (11.80)

90 (3.00) 1.20 (1.80)

100 7.00 1.20 8.20

110 17.00 1.20 18.20

120 27.00 1.20 28.20

130 37.00 1.20 38.20

140 47.00 1.20 48.20

150 57.00 1.20 58.20

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

40 50 60 70 80 90 100 110

Spead Pay Off

(5.00)

-

5.00

10.00

15.00

20.00

25.00

40 50 60 70 80 90 100 110

Spread Pay Off

Bearish Trends

ST

Bought Call

Pay Off (Sx=

100)

Written Put

Pay Off (Sx=

100)

Spead Pay

Off

40 (10.00) (58.10) (68.10)

50 (10.00) (48.10) (58.10)

60 (10.00) (38.10) (48.10)

70 (10.00) (28.10) (38.10)

80 (10.00) (18.10) (28.10)

90 (10.00) (8.10) (18.10)

100 (10.00) 1.90 (8.10)

110 - 1.90 1.90

120 10.00 1.90 11.90

130 20.00 1.90 21.90

140 30.00 1.90 31.90

150 40.00 1.90 41.90

4 Butterfly Spread




Sx C0

80 13

90 11.8

100 10

ST

Bought Call

(Sx= 80)

Bought Call

(Sx= 100)

Written 2

Call (Sx=

90)

Value of

Butterfly

Spread

40 (13.00) (10.00) 23.60 0.60

50 (13.00) (10.00) 23.60 0.60

60 (13.00) (10.00) 23.60 0.60

70 (13.00) (10.00) 23.60 0.60

80 (13.00) (10.00) 23.60 0.60

90 (3.00) (10.00) 23.60 10.60

100 7.00 (10.00) 3.60 0.60

110 17.00 - (16.40) 0.60

120 27.00 10.00 (36.40) 0.60

130 37.00 20.00 (56.40) 0.60

140 47.00 30.00 (76.40) 0.60

150 57.00 40.00 (96.40) 0.60

-

2.00

4.00

6.00

8.00

10.00

12.00

40 50 60 70 80 90 100110120130


(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70 80 90 100 110

Spead Pay Off






Sx C0 P0

100 10 -

90 11.8 -

80 - 1.2

70 - 1.6

ST

Gain from

Bougth Call

(Sx= 100)

Gain from

Written Call

(Sx= 90)

Gain from

Bougth Put

(Sx= 80)

Gain from

Written Put

(Sx= 70)

Gain from

Iron

Condor

Strategy

40 (10.00) 11.80 38.80 (28.40) 12.20

50 (10.00) 11.80 28.80 (18.40) 12.20

60 (10.00) 11.80 18.80 (8.40) 12.20

70 (10.00) 11.80 8.80 1.60 12.20

80 (10.00) 11.80 (1.20) 1.60 2.20

90 (10.00) 11.80 (1.20) 1.60 2.20

100 (10.00) 1.80 (1.20) 1.60 (7.80)

110 - (8.20) (1.20) 1.60 (7.80)

120 10.00 (18.20) (1.20) 1.60 (7.80)

130 20.00 (28.20) (1.20) 1.60 (7.80)

140 30.00 (38.20) (1.20) 1.60 (7.80)

150 40.00 (48.20) (1.20) 1.60 (7.80)

D] Combinations


ST

Bought

Straddles

Written

Straddles

40 48.10 (48.10)

50 38.10 (38.10)

60 28.10 (28.10)

70 18.10 (18.10)

80 8.10 (8.10)

90 (1.90) 1.90

100 (11.90) 11.90

110 (1.90) 1.90

120 8.10 (8.10)

130 18.10 (18.10)

140 28.10 (28.10)

150 38.10 (38.10)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

40 50 60 70 80 90 100 110 120

(10.00)

(5.00)

-

5.00

10.00

15.00

40 50 60 70

Gain from Iron Condor Strategy


ST

Bought

Strips Written Strips

40 106.20 (106.20)

50 86.20 (86.20)

60 66.20 (66.20)

70 46.20 (46.20)

80 26.20 (26.20)

90 6.20 (6.20)

100 (13.80) 13.80

110 (3.80) 3.80

120 6.20 (6.20)

130 16.20 (16.20)

140 26.20 (26.20)

150 36.20 (36.20)


ST

Bought

Straps

Written

Straps

40 38.10 (38.10)

50 28.10 (28.10)

60 18.10 (18.10)

70 8.10 (8.10)

80 (1.90) 1.90

90 (11.90) 11.90

100 (21.90) 21.90

110 (1.90) 1.90

120 18.10 (18.10)

130 38.10 (38.10)

140 58.10 (58.10)

150 78.10 (78.10)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

100.00

40 50 60 70 80 90 100 110

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

40 50 60 70 80 90 100 110

4 Strangles

Sx 2 110

ST

Gain from

the Bought

Call (Sx=

100)

Gain from the

Bought put

(Sx= 110)

Gain from

the

Strategy

40 (10.00) 68.10 58.10

50 (10.00) 58.10 48.10

60 (10.00) 48.10 38.10

70 (10.00) 38.10 28.10

80 (10.00) 28.10 18.10

90 (10.00) 18.10 8.10

100 (10.00) 8.10 (1.90)

110 - (1.90) (1.90)

120 10.00 (1.90) 8.10

130 20.00 (1.90) 18.10

140 30.00 (1.90) 28.10

150 40.00 (1.90) 38.10

(10.00)

-

10.00

20.00

30.00

40.00

50.00

60.00

70.00

40 50 60 70 80 90 100 110 120 130


St = 200.00 Expiry Date= 3/27/2014 Co= 10

Po= 6.5



ST P&L

80 (120.00)

100 (100.00)

120 (80.00)

140 (60.00)

160 (40.00)

180 (20.00)

200 -

220 20.00

240 40.00

260 60.00

280 80.00

300 100.00


ST P&L

80 120.00

100 100.00

120 80.00

140 60.00

160 40.00

180 20.00

200 -

220 (20.00)

240 (40.00)

260 (60.00)

280 (80.00)

300 (100.00)


ICICI Housing Finance

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

80 100 120 140 160 180 200

P&L

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

80 100 120 140 160 180 200

P&L


ST C0 P&L

80 10 (10.00)

100 10 (10.00)

120 10 (10.00)

140 10 (10.00)

160 10 (10.00)

180 10 (10.00)

200 10 (10.00)

220 10 10.00

240 10 30.00

260 10 50.00

280 10 70.00

300 10 90.00


ST C0 P&L

80 10 10.00

100 10 10.00

120 10 10.00

140 10 10.00

160 10 10.00

180 10 10.00

200 10 10.00

220 10 (10.00)

240 10 (30.00)

260 10 (50.00)

280 10 (70.00)

300 10 (90.00)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

80 100 120 140 160 180 200

P&L

(20.00)

-

20.00

40.00

60.00

80.00

100.00

80 100 120 140 160 180 200

P&L


ST P0 P&L

80 6.5 113.50

100 6.5 93.50

120 6.5 73.50

140 6.5 53.50

160 6.5 33.50

180 6.5 13.50

200 6.5 (6.50)

220 6.5 (6.50)

240 6.5 (6.50)

260 6.5 (6.50)

280 6.5 (6.50)

300 6.5 (6.50)


ST P0 P&L

80 6.5 (113.50)

100 6.5 (93.50)

120 6.5 (73.50)

140 6.5 (53.50)

160 6.5 (33.50)

180 6.5 (13.50)

200 6.5 6.50

220 6.5 6.50

240 6.5 6.50

260 6.5 6.50

280 6.5 6.50

300 6.5 6.50

(120.00)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

80 100 120 140 160 180 200

P&L

(20.00)

-

20.00

40.00

60.00

80.00

100.00

120.00

80 100 120 140 160 180 200

P&L

(100.00)

B] Hedged Position


ST

G/L from

Stock

Value of

Written

Call

Call Prem.

Received

P&L fron

covered call

80 (120.00) 0 10 (110.00)

100 (100.00) 0 10 (90.00)

120 (80.00) 0 10 (70.00)

140 (60.00) 0 10 (50.00)

160 (40.00) 0 10 (30.00)

180 (20.00) 0 10 (10.00)

200 0 0 10 10.00

220 20.00 (20.00) 10 10.00

240 40.00 (40.00) 10 10.00

260 60.00 (60.00) 10 10.00

280 80.00 (80.00) 10 10.00

300 100.00 (100.00) 10 10.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

80 120.00 0 (10.00) 110.00

100 100.00 0 (10.00) 90.00

120 80.00 0 (10.00) 70.00

140 60.00 0 (10.00) 50.00

160 40.00 0 (10.00) 30.00

180 20.00 0 (10.00) 10.00

200 0 0 (10.00) (10.00)

220 (20.00) 20.00 (10.00) (10.00)

240 (40.00) 40.00 (10.00) (10.00)

260 (60.00) 60.00 (10.00) (10.00)

280 (80.00) 80.00 (10.00) (10.00)

300 (100.00) 100.00 (10.00) (10.00)

(20.00)

-

20.00

40.00

60.00

80.00

100.00

120.00

80 100120140160180200220240260


(120.00)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

80 100 120 140 160 180 200 220 240


(120.00)


ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

80 (120.00) 120.00 (6.50) (6.50)

100 (100.00) 100.00 (6.50) (6.50)

120 (80.00) 80.00 (6.50) (6.50)

140 (60.00) 60.00 (6.50) (6.50)

160 (40.00) 40.00 (6.50) (6.50)

180 (20.00) 20.00 (6.50) (6.50)

200 0 0 (6.50) (6.50)

220 20.00 0 (6.50) 13.50

240 40.00 0 (6.50) 33.50

260 60.00 0 (6.50) 53.50

280 80.00 0 (6.50) 73.50

300 100.00 0 (6.50) 93.50


ST Short Stock

Value of

Written Put

Put Prem.

Received

P&L from

the

strategy

80 120.00 (120.00) 6.5 6.50

100 100.00 (100.00) 6.5 6.50

120 80.00 (80.00) 6.5 6.50

140 60.00 (60.00) 6.5 6.50

160 40.00 (40.00) 6.5 6.50

180 20.00 (20.00) 6.5 6.50

200 0 0 6.5 6.50

220 (20.00) 0 6.5 (13.50)

240 (40.00) 0 6.5 (33.50)

260 (60.00) 0 6.5 (53.50)

280 (80.00) 0 6.5 (73.50)

300 (100.00) 0 6.5 (93.50)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

80 100 120 140 160 180 200 220 240


(20.00)

-

20.00

40.00

60.00

80.00

100.00

80 100120140160180200220240260






ST Long Stock

1

stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

80 (120.00) (115.00) (110.00) (100.00)

100 (100.00) (95.00) (90.00) (80.00)

120 (80.00) (75.00) (70.00) (60.00)

140 (60.00) (55.00) (50.00) (40.00)

160 (40.00) (35.00) (30.00) (20.00)

180 (20.00) (15.00) (10.00) -

200 0 5.00 10.00 20.00

220 20.00 15.00 10.00 -

240 40.00 25.00 10.00 (20.00)

260 60.00 35.00 10.00 (40.00)

280 80.00 45.00 10.00 (60.00)

300 100.00 55.00 10.00 (80.00)

C] Spread Position


Sx Co

200 10

160 8


ST

Bought Call

Pay off (Sx =

160)

Written

Call Pay Off

(Sx = 200)

Spread Pay

Off

80 (8.00) 10.00 2.00

100 (8.00) 10.00 2.00

120 (8.00) 10.00 2.00

140 (8.00) 10.00 2.00

160 (8.00) 10.00 2.00

180 12.00 10.00 22.00

200 32.00 10.00 42.00

220 52.00 (10.00) 42.00

240 72.00 (30.00) 42.00

260 92.00 (50.00) 42.00

280 112.00 (70.00) 42.00

300 132.00 (90.00) 42.00


-

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

80 100 120 140 160 180 200 220

Spread Pay Off

(140.00)

(120.00)

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

40.00

60.00

80.00

80 100 120 140 160 180 200 220 240

(100.00)


ST

Bought Call

Pay off (Sx =

200)

Written

Call Pay Off

(Sx =160)

Spread Pay

Off

80 (10.00) 8.00 (2.00)

100 (10.00) 8.00 (2.00)

120 (10.00) 8.00 (2.00)

140 (10.00) 8.00 (2.00)

160 (10.00) 8.00 (2.00)

180 (10.00) (12.00) (22.00)

200 (10.00) (32.00) (42.00)

220 10.00 (52.00) (42.00)

240 30.00 (72.00) (42.00)

260 50.00 (92.00) (42.00)

280 70.00 (112.00) (42.00)

300 90.00 (132.00) (42.00)


Sx P0

200 6.5

160 5


ST

Bought Put

Pay Off (Sx=

160)

Written Put

Pay Off

(Sx= 200)

Spread Pay

Off

80 75.00 (113.50) (38.50)

100 55.00 (93.50) (38.50)

120 35.00 (73.50) (38.50)

140 15.00 (53.50) (38.50)

160 (5.00) (33.50) (38.50)

180 (5.00) (13.50) (18.50)

200 (5.00) 6.50 1.50

220 (5.00) 6.50 1.50

240 (5.00) 6.50 1.50

260 (5.00) 6.50 1.50

280 (5.00) 6.50 1.50

300 (5.00) 6.50 1.50

(45.00)

(40.00)

(35.00)

(30.00)

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

80 100 120 140 160 180 200 220

Spread Pay Off

(45.00)

(40.00)

(35.00)

(30.00)

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

80 100 120 140 160 180 200 220

Spread Pay Off


ST

Bought Put

Pay Off (Sx=

200)

Written Put

Pay Off

(Sx=160)

Spread Pay

Off

80 113.50 (75.00) 38.50

100 93.50 (55.00) 38.50

120 73.50 (35.00) 38.50

140 53.50 (15.00) 38.50

160 33.50 5.00 38.50

180 13.50 5.00 18.50

200 (6.50) 5.00 (1.50)

220 (6.50) 5.00 (1.50)

240 (6.50) 5.00 (1.50)

260 (6.50) 5.00 (1.50)

280 (6.50) 5.00 (1.50)

300 (6.50) 5.00 (1.50)

3 Box Spread

Sx C0 P0

200 10 6.5

160 8 5

Bullish Trends

ST

Bought Call

Pay Off (Sx=

160)

Written Put

Pay Off

(Sx= 160)

Spead Pay

Off

80 (8.00) (75.00) (83.00)

100 (8.00) (55.00) (63.00)

120 (8.00) (35.00) (43.00)

140 (8.00) (15.00) (23.00)

160 (8.00) 5.00 (3.00)

180 12.00 5.00 17.00

200 32.00 5.00 37.00

220 52.00 5.00 57.00

240 72.00 5.00 77.00

260 92.00 5.00 97.00

280 112.00 5.00 117.00

300 132.00 5.00 137.00

(100.00)

(50.00)

-

50.00

100.00

150.00

80 100 120 140 160 180 200 220

Spead Pay Off

(5.00)

-

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

80 100 120 140 160 180 200 220

Spread Pay Off

Bearish Trends

ST

Bought Call

Pay Off (Sx=

200)

Written Put

Pay Off

(Sx= 200)

Spead Pay

Off

80 (10.00) (113.50) (123.50)

100 (10.00) (93.50) (103.50)

120 (10.00) (73.50) (83.50)

140 (10.00) (53.50) (63.50)

160 (10.00) (33.50) (43.50)

180 (10.00) (13.50) (23.50)

200 (10.00) 6.50 (3.50)

220 10.00 6.50 16.50

240 30.00 6.50 36.50

260 50.00 6.50 56.50

280 70.00 6.50 76.50

300 90.00 6.50 96.50

4 Butterfly Spread




Sx C0

160 8

180 9

200 10

ST

Bought Call

(Sx= 160)

Bought Call

(Sx= 200)

Written 2

Call (Sx= 180)

Value of

Butterfly

Spread

80 (8.00) (10.00) 18.00 -

100 (8.00) (10.00) 18.00 -

120 (8.00) (10.00) 18.00 -

140 (8.00) (10.00) 18.00 -

160 (8.00) (10.00) 18.00 -

180 12.00 (10.00) 18.00 20.00

200 32.00 (10.00) (22.00) -

220 52.00 10.00 (62.00) -

240 72.00 30.00 (102.00) -

260 92.00 50.00 (142.00) -

280 112.00 70.00 (182.00) -

300 132.00 90.00 (222.00) - -

5.00

10.00

15.00

20.00

25.00

80 100120140160180200220240


(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

80 100 120 140 160 180 200 220

Spead Pay Off






Sx C0 P0

200 10 -

180 9 -

160 - 5

140 - 6

ST

Gain from

Bougth Call

(Sx= 200)

Gain from

Written

Call (Sx=

180)

Gain from

Bougth Put

(Sx= 160)

Gain from

Written Put

(Sx= 140)

Gain

from Iron

Condor

Strategy

80 (10.00) 9.00 75.00 (54.00) 20.00

100 (10.00) 9.00 55.00 (34.00) 20.00

120 (10.00) 9.00 35.00 (14.00) 20.00

140 (10.00) 9.00 15.00 6.00 20.00

160 (10.00) 9.00 (5.00) 6.00 -

180 (10.00) 9.00 (5.00) 6.00 -

200 (10.00) (11.00) (5.00) 6.00 (20.00)

220 10.00 (31.00) (5.00) 6.00 (20.00)

240 30.00 (51.00) (5.00) 6.00 (20.00)

260 50.00 (71.00) (5.00) 6.00 (20.00)

280 70.00 (91.00) (5.00) 6.00 (20.00)

300 90.00 (111.00) (5.00) 6.00 (20.00)

D] Combinations


ST

Bought

Straddles

Written

Straddles

80 103.50 (103.50)

100 83.50 (83.50)

120 63.50 (63.50)

140 43.50 (43.50)

160 23.50 (23.50)

180 3.50 (3.50)

200 (16.50) 16.50

220 3.50 (3.50)

240 23.50 (23.50)

260 43.50 (43.50)

280 63.50 (63.50)

300 83.50 (83.50)

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

80 100 120 140 160 180 200 220

(25.00)

(20.00)

(15.00)

(10.00)

(5.00)

-

5.00

10.00

15.00

20.00

25.00

80 100 120



ST Bought Strips

Written

Strips

80 217.00 (217.00)

100 177.00 (177.00)

120 137.00 (137.00)

140 97.00 (97.00)

160 57.00 (57.00)

180 17.00 (17.00)

200 (23.00) 23.00

220 (3.00) 3.00

240 17.00 (17.00)

260 37.00 (37.00)

280 57.00 (57.00)

300 77.00 (77.00)


ST

Bought

Straps

Written

Straps

80 93.50 (93.50)

100 73.50 (73.50)

120 53.50 (53.50)

140 33.50 (33.50)

160 13.50 (13.50)

180 (6.50) 6.50

200 (26.50) 26.50

220 13.50 (13.50)

240 53.50 (53.50)

260 93.50 (93.50)

280 133.50 (133.50)

300 173.50 (173.50)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

200.00

80 100 120 140 160 180 200 220

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

100.00

150.00

200.00

250.00

80 100 120 140 160 180 200 220

4 Strangles

Sx 2 220

ST

Gain from the

Bought Call

(Sx= 200)

Gain from

the Bought

put (Sx=

220)

Gain from

the Strategy

80 (10.00) 133.50 123.50

100 (10.00) 113.50 103.50

120 (10.00) 93.50 83.50

140 (10.00) 73.50 63.50

160 (10.00) 53.50 43.50

180 (10.00) 33.50 23.50

200 (10.00) 13.50 3.50

220 10.00 (6.50) 3.50

240 30.00 (6.50) 23.50

260 50.00 (6.50) 43.50

280 70.00 (6.50) 63.50

300 90.00 (6.50) 83.50

-

20.00

40.00

60.00

80.00

100.00

120.00

140.00

80 100 120 140 160 180 200 220 240


St = 1,000.00 Expiry Date= 3/27/2014 Co= 51

Po= 18



ST P&L

400 (600.00)

500 (500.00)

600 (400.00)

700 (300.00)

800 (200.00)

900 (100.00)

1000 -

1100 100.00

1200 200.00

1300 300.00

1400 400.00

1500 500.00


ST P&L

400 600.00

500 500.00

600 400.00

700 300.00

800 200.00

900 100.00

1000 -

1100 (100.00)

1200 (200.00)

1300 (300.00)

1400 (400.00)

1500 (500.00)


ICICI bank

(600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

800.00

400 500 600 700 800


ST C0 P&L

400 51 (51.00)

500 51 (51.00)

600 51 (51.00)

700 51 (51.00)

800 51 (51.00)

900 51 (51.00)

1000 51 (51.00)

1100 51 49.00

1200 51 149.00

1300 51 249.00

1400 51 349.00

1500 51 449.00


ST C0 P&L

400 51 51.00

500 51 51.00

600 51 51.00

700 51 51.00

800 51 51.00

900 51 51.00

1000 51 51.00

1100 51 (49.00)

1200 51 (149.00)

1300 51 (249.00)

1400 51 (349.00)

1500 51 (449.00) (500.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

400 500 600 700 800 900

P&L

(100.00)

-

100.00

200.00

300.00

400.00

500.00

400 500 600 700 800


ST P0 P&L

400 18 582.00

500 18 482.00

600 18 382.00

700 18 282.00

800 18 182.00

900 18 82.00

1000 18 (18.00)

1100 18 (18.00)

1200 18 (18.00)

1300 18 (18.00)

1400 18 (18.00)

1500 18 (18.00)


ST P0 P&L

400 18 (582.00)

500 18 (482.00)

600 18 (382.00)

700 18 (282.00)

800 18 (182.00)

900 18 (82.00)

1000 18 18.00

1100 18 18.00

1200 18 18.00

1300 18 18.00

1400 18 18.00

1500 18 18.00

(700.00)

(600.00)

(500.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

400 500 600 700 800

(100.00)

-

100.00

200.00

300.00

400.00

500.00

600.00

700.00

400 500 600 700 800

B] Hedged Position


ST

G/L from

Stock

Value of

Written

Call

Call Prem.

Received

P&L fron

covered call

400 (600.00) 0 51 (549.00)

500 (500.00) 0 51 (449.00)

600 (400.00) 0 51 (349.00)

700 (300.00) 0 51 (249.00)

800 (200.00) 0 51 (149.00)

900 (100.00) 0 51 (49.00)

1000 0 0 51 51.00

1100 100.00 (100.00) 51 51.00

1200 200.00 (200.00) 51 51.00

1300 300.00 (300.00) 51 51.00

1400 400.00 (400.00) 51 51.00

1500 500.00 (500.00) 51 51.00


ST

G/L from

Stock

Value of

Bought Call

Call Prem.

Paid

P&L from

Reverse

Hedge

400 600.00 0 (51.00) 549.00

500 500.00 0 (51.00) 449.00

600 400.00 0 (51.00) 349.00

700 300.00 0 (51.00) 249.00

800 200.00 0 (51.00) 149.00

900 100.00 0 (51.00) 49.00

1000 0 0 (51.00) (51.00)

1100 (100.00) 100.00 (51.00) (51.00)

1200 (200.00) 200.00 (51.00) (51.00)

1300 (300.00) 300.00 (51.00) (51.00)

1400 (400.00) 400.00 (51.00) (51.00)

1500 (500.00) 500.00 (51.00) (51.00)

(100.00)

-

100.00

200.00

300.00

400.00

500.00

600.004

00

50

0

60

0

70

0

80

0

90

0

10

00


(600.00)

(500.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

40

0

50

0

60

0

70

0

80

0

90

0

10

00


(700.00)


ST

G/L from

Stock

Value of

Bought Put

Put Prem.

Paid

P&L from

Protective

Put

400 (600.00) 600.00 (18.00) (18.00)

500 (500.00) 500.00 (18.00) (18.00)

600 (400.00) 400.00 (18.00) (18.00)

700 (300.00) 300.00 (18.00) (18.00)

800 (200.00) 200.00 (18.00) (18.00)

900 (100.00) 100.00 (18.00) (18.00)

1000 0 0 (18.00) (18.00)

1100 100.00 0 (18.00) 82.00

1200 200.00 0 (18.00) 182.00

1300 300.00 0 (18.00) 282.00

1400 400.00 0 (18.00) 382.00

1500 500.00 0 (18.00) 482.00


ST

Short

Stock

Value of

Written Put

Put Prem.

Received

P&L from

the strategy

400 600.00 (600.00) 18 18.00

500 500.00 (500.00) 18 18.00

600 400.00 (400.00) 18 18.00

700 300.00 (300.00) 18 18.00

800 200.00 (200.00) 18 18.00

900 100.00 (100.00) 18 18.00

1000 0 0 18 18.00

1100 (100.00) 0 18 (82.00)

1200 (200.00) 0 18 (182.00)

1300 (300.00) 0 18 (282.00)

1400 (400.00) 0 18 (382.00)

1500 (500.00) 0 18 (482.00)

(600.00)

(500.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.004

00

50

0

60

0

70

0

80

0

90

0

10

00


(100.00)

-

100.00

200.00

300.00

400.00

500.00

600.00

40

0

50

0

60

0

70

0

80

0

90

0

10

00


(100.00) 10

00





ST Long Stock

1

stock+1/2

call write

1 stock+1

call write

1 stock+2

calls write

400 (600.00) (574.50) (549.00) (498.00)

500 (500.00) (474.50) (449.00) (398.00)

600 (400.00) (374.50) (349.00) (298.00)

700 (300.00) (274.50) (249.00) (198.00)

800 (200.00) (174.50) (149.00) (98.00)

900 (100.00) (74.50) (49.00) 2.00

1000 0 25.50 51.00 102.00

1100 100.00 75.50 51.00 2.00

1200 200.00 125.50 51.00 (98.00)

1300 300.00 175.50 51.00 (198.00)

1400 400.00 225.50 51.00 (298.00)

1500 500.00 275.50 51.00 (398.00)

C] Spread Position


Sx Co

1000 51

900 58


ST

Bought

Call Pay

off (Sx =

900)

Written

Call Pay Off

(Sx = 1000)

Spread

Pay Off

400 (58.00) 51.00 (7.00)

500 (58.00) 51.00 (7.00)

600 (58.00) 51.00 (7.00)

700 (58.00) 51.00 (7.00)

800 (58.00) 51.00 (7.00)

900 (58.00) 51.00 (7.00)

1000 42.00 51.00 93.00

1100 142.00 (49.00) 93.00

1200 242.00 (149.00) 93.00

1300 342.00 (249.00) 93.00

1400 442.00 (349.00) 93.00

1500 542.00 (449.00) 93.00


(20.00)

-

20.00

40.00

60.00

80.00

100.00

Spread Pay Off

(700.00)

(600.00)

(500.00)

(400.00)

(300.00)

(200.00)

(100.00)

-

100.00

200.00

300.00

400.00

40

0

50

0

60

0

70

0

80

0

90

0

10

00

(600.00)


ST

Bought

Call Pay

off (Sx =

1000)

Written

Call Pay Off

(Sx = 900)

Spread

Pay Off

400 (51.00) 58.00 7.00

500 (51.00) 58.00 7.00

600 (51.00) 58.00 7.00

700 (51.00) 58.00 7.00

800 (51.00) 58.00 7.00

900 (51.00) 58.00 7.00

1000 (51.00) (42.00) (93.00)

1100 49.00 (142.00) (93.00)

1200 149.00 (242.00) (93.00)

1300 249.00 (342.00) (93.00)

1400 349.00 (442.00) (93.00)

1500 449.00 (542.00) (93.00)


Sx P0

1000 18

900 13


ST

Bought

Put Pay

Off (Sx=

900)

Written Put

Pay Off

(Sx= 1000)

Spread

Pay Off

400 487.00 (582.00) (95.00)

500 387.00 (482.00) (95.00)

600 287.00 (382.00) (95.00)

700 187.00 (282.00) (95.00)

800 (13.00) (182.00) (195.00)

900 (13.00) (82.00) (95.00)

1000 (13.00) 18.00 5.00

1100 (13.00) 18.00 5.00

1200 (13.00) 18.00 5.00

1300 (13.00) 18.00 5.00

1400 (13.00) 18.00 5.00

1500 (13.00) 18.00 5.00

(250.00)

(200.00)

(150.00)

(100.00)

(50.00)

-

50.00

Spread Pay Off

(100.00)

(80.00)

(60.00)

(40.00)

(20.00)

-

20.00

Spread Pay Off


ST

Bought

Put Pay

Off (Sx=

1000)

Written Put

Pay Off

(Sx= 900)

Spread

Pay Off

400 582.00 (487.00) 95.00

500 482.00 (387.00) 95.00

600 382.00 (287.00) 95.00

700 282.00 (187.00) 95.00

800 182.00 13.00 195.00

900 82.00 13.00 95.00

1000 (18.00) 13.00 (5.00)

1100 (18.00) 13.00 (5.00)

1200 (18.00) 13.00 (5.00)

1300 (18.00) 13.00 (5.00)

1400 (18.00) 13.00 (5.00)

1500 (18.00) 13.00 (5.00)

3 Box Spread

Sx C0 P0

1000 51 18

900 58 23

Bullish Trends

ST

Bought

Call Pay

Off (Sx=

900)

Written Put

Pay Off

(Sx= 900)

Spead

Pay Off

400 (58.00) (477.00) (535.00)

500 (58.00) (377.00) (435.00)

600 (58.00) (277.00) (335.00)

700 (58.00) (177.00) (235.00)

800 (58.00) 23.00 (35.00)

900 (58.00) 23.00 (35.00)

1000 42.00 23.00 65.00

1100 142.00 23.00 165.00

1200 242.00 23.00 265.00

1300 342.00 23.00 365.00

1400 442.00 23.00 465.00

1500 542.00 23.00 565.00 (600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

800.00

Spead Pay Off

(50.00)

-

50.00

100.00

150.00

200.00

250.00

Spread Pay Off

Bearish Trends

ST

Bought

Call Pay

Off (Sx=

1000)

Written Put

Pay Off

(Sx= 1000)

Spead

Pay Off

400 (51.00) (582.00) (633.00)

500 (51.00) (482.00) (533.00)

600 (51.00) (382.00) (433.00)

700 (51.00) (282.00) (333.00)

800 (51.00) (182.00) (233.00)

900 (51.00) (82.00) (133.00)

1000 (51.00) 18.00 (33.00)

1100 49.00 18.00 67.00

1200 149.00 18.00 167.00

1300 249.00 18.00 267.00

1400 349.00 18.00 367.00

1500 449.00 18.00 467.00

4 Butterfly Spread




Sx C0

900 58

950 55

1000 51

ST

Bought

Call (Sx=

1200)

Bought Call

(Sx= 1000)

Written 2

Call (Sx=

950)

Value of

Butterfly

Spread

400 (58.00) (51.00) 110.00 1.00

500 (58.00) (51.00) 110.00 1.00

600 (58.00) (51.00) 110.00 1.00

700 (58.00) (51.00) 110.00 1.00

800 (58.00) (51.00) 110.00 1.00

900 (58.00) (51.00) 110.00 1.00

1000 42.00 (51.00) 10.00 1.00

1100 142.00 49.00 (190.00) 1.00

1200 242.00 149.00 (390.00) 1.00

1300 342.00 249.00 (590.00) 1.00

1400 442.00 349.00 (790.00) 1.00

1500 542.00 449.00 (990.00) 1.00 -

0.20

0.40

0.60

0.80

1.00

1.20

40

0

50

0

60

0

70

0

80

0

90

0

10

00

11

00


(800.00)

(600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

Spead Pay Off






Sx C0 P0

1000 51 -

950 55 -

900 - 13

850 - 16

ST

Gain from

Bougth

Call (Sx=

1000)

Gain from

Written

Call (Sx=

950)

Gain from

Bougth

Put (Sx=

900)

Gain from

Written Put

(Sx= 850)

Gain

from Iron

Condor

Strategy

400 (51.00) 55.00 487.00 (434.00) 57.00

500 (51.00) 55.00 387.00 (334.00) 57.00

600 (51.00) 55.00 287.00 (234.00) 57.00

700 (51.00) 55.00 187.00 16.00 207.00

800 (51.00) 55.00 (13.00) 16.00 7.00

900 (51.00) 55.00 (13.00) 16.00 7.00

1000 (51.00) 5.00 (13.00) 16.00 (43.00)

1100 49.00 (95.00) (13.00) 16.00 (43.00)

1200 149.00 (195.00) (13.00) 16.00 (43.00)

1300 249.00 (295.00) (13.00) 16.00 (43.00)

1400 349.00 (395.00) (13.00) 16.00 (43.00)

1500 449.00 (495.00) (13.00) 16.00 (43.00)

D] Combinations


ST

Bought

Straddles

Written

Straddles

400 531.00 (531.00)

500 431.00 (431.00)

600 331.00 (331.00)

700 231.00 (231.00)

800 131.00 (131.00)

900 31.00 (31.00)

1000 (69.00) 69.00

1100 31.00 (31.00)

1200 131.00 (131.00)

1300 231.00 (231.00)

1400 331.00 (331.00)

1500 431.00 (431.00) (600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

(100.00)

(50.00)

-

50.00

100.00

150.00

200.00

250.00

40

0

50

0



ST

Bought

Strips

Written

Strips

400 1,113.00 (1,113.00)

500 913.00 (913.00)

600 713.00 (713.00)

700 513.00 (513.00)

800 313.00 (313.00)

900 113.00 (113.00)

1000 (87.00) 87.00

1100 13.00 (13.00)

1200 113.00 (113.00)

1300 213.00 (213.00)

1400 313.00 (313.00)

1500 413.00 (413.00)


ST

Bought

Straps

Written

Straps

400 480.00 (480.00)

500 380.00 (380.00)

600 280.00 (280.00)

700 180.00 (180.00)

800 80.00 (80.00)

900 (20.00) 20.00

1000 (120.00) 120.00

1100 80.00 (80.00)

1200 280.00 (280.00)

1300 480.00 (480.00)

1400 680.00 (680.00)

1500 880.00 (880.00) (1,000.00)

(800.00)

(600.00)

(400.00)

(200.00)

-

200.00

400.00

600.00

800.00

1,000.00

(1,500.00)

(1,000.00)

(500.00)

-

500.00

1,000.00

1,500.00

4 Strangles

Sx 2 1050

ST

Gain from

the

Bought

Call (Sx=

1000)

Gain from

the Bought

put (Sx=

1050)

Gain

from the

Strategy

400 (51.00) 632.00 581.00

500 (51.00) 532.00 481.00

600 (51.00) 432.00 381.00

700 (51.00) 332.00 281.00

800 (51.00) 232.00 181.00

900 (51.00) 132.00 81.00

1000 (51.00) 32.00 (19.00)

1100 49.00 (18.00) 31.00

1200 149.00 (18.00) 131.00

1300 249.00 (18.00) 231.00

1400 349.00 (18.00) 331.00

1500 449.00 (18.00) 431.00

(100.00)

-

100.00

200.00

300.00

400.00

500.00

600.00

700.00

1 2 3 4 5 6 7


bully r.m. staratejahbffkjsabfgy

Documents