Date of Birth 22

Roll No 1

Premium
k1 101 22
k2 121 27
k3 151 32

Bull Spread Use in Bull mkt

Spot price Long Call Short Call Total payoff Net Payoff
71 0 0 0 5 100
81 0 0 0 5 80
91 0 0 0 5
60
101 0 0 0 5
111 10 0 10 15 40
121 20 0 20 25 20
131 30 -10 20 25
0
141 40 -20 20 25 71 81 9
151 50 -30 20 25 -20
161 60 -40 20 25 -40
171 70 -50 20 25
-60
181 80 -60 20 25
-80

Butterfly Spread Use in uncertain mkt

Spot Price Long Call 2 Short Calls Long Call Total Payoff Net Payoff
71 0 0 0 0 0
81 0 0 0 0 0
91 0 0 0 0 0
101 0 0 0 0 0
111 10 0 0 10 10
121 20 0 0 20 20
131 30 -20 0 10 10
141 40 -40 0 0 0
151 50 -60 0 -10 -10
161 60 -80 10 -10 -10
171 70 -100 20 -10 -10
 181 80 -120 30 -10 -10

Stap Use wen high prob of bull

180
Spot Price 2 Call Put Total Payoff Net Payout
160
71 0 50 104 33
81 0 40 94 23 140
91 0 30 84 13 120
101 0 20 74 3
100
111 20 10 84 13
121 40 0 94 23 80
131 60 0 114 43 60
141 80 0 134 63
40
151 100 0 154 83
161 120 0 174 103 20
171 140 0 194 123 0

81
71

91
181 160 0 214 143
 Bear Spread use in bear mkt

Spot price Short Put Long Put

100 71 -30 50
80 81 -20 40
91 -10 30
60
101 0 20
40 111 0 10
20 121 0 0
131 0 0
0
71 81 91 101 111 121 131 141 151 161 171 181 141 0 0
-20 151 0 0
-40 161 0 0
171 0 0
-60
181 0 0
-80
Long Call Short Call Net Payoff

Strip Use wen high prob of bear

100
Net Payoff Spot Price Call 2 Put
50 71 0 100
81 0 80
0 91 0 60
71 81 91 101 111 121 131 141 151 161 171 181 101 0 40
-50
111 10 20
121 20 0
131 30 0
-100
141 40 0
151 50 0
-150
Long Call 2 Short Calls 161 60 0
Long Call Net Payoff 171 70 0
 -150
Long Call 2 Short Calls
Long Call Net Payoff
181 80 0

Straddel Everytime else

180
Spot Price Call Put
160
71 0 50
140 81 0 40
120 91 0 30
2 Call 101 0 20
100
Put 111 10 10
80 Net 121 20 0
Payout 131 30 0
60
141 40 0
40
151 50 0
20 161 60 0
0 171 70 0
81
71

91
101
111
121
131
141
151
161

181
171

181 80 0
 Total Payoff Net Payoff 60
20 15
50
20 15
20 15 40
20 15 30
10 5
20
0 -5
0 -5 10
0 -5 0
0 -5 71 81 91 101 111 121 131 141 151 161 171 181
-10
0 -5
-20
0 -5
0 -5 -30
-40
Short Put Long Put Net Payoff

igh prob of bear

120
Total Payoff Net Payout
100
154 78
134 58 80
114 38
94 18 60
84 8
40
74 -2
84 8 20
94 18
104 28 0
114 38 71 81 91 101 111 121 131 141 151 161 171 181
-20
124 48 Call 2 Put Net Payout
 0
71 81 91 101 111 121 131 141 151 161 171 181
-20
Call 2 Put Net Payout
134 58

Total Payoff Net Payout 90

104 55
80
94 45
84 35 70
74 25 60
74 25
Call
74 25 50
Put
84 35 40 Net
94 45 Payout
30
104 55
114 65 20
124 75 10
134 85
0
71 81 91 101 111 121 131 141 151 161 171 181
171 181

off

151 161 171 181

yout
 151 161 171 181

yout

Call
Put
Net
Payout

71 181