Revisions

Changed all fonts to Arial instead of mixed fonts.

Added error checking to ensure high stock price range value is always greater than or equal to the low stock price range value.
Added error checking to ensure stock price increment value is always less than or equal to the high stock price range value minus the low stock price range value.
Added error checking to ensure increment is greater than or equal to zero. If increment is equal to zero and stock price range is greater than zero then only low stock price scenario is evaluated.
Added logic to account for situations where only one scenerio row is in the table - if first row of table is erased, scenario cash flow and profit formulas must be re-entered or start with the template model.
Froze window horizontal pane after row 33 so input values and headers are always visable when scrolling down scenarion table. If display is large enough so that row 33 is not visable than you won't be able to get to the table. Window panes can be unfrozen if larger display is needed.
Changed from data validation (has Excel quirks) for "Buy, Sell, n/a" to a form drop list combo box so drop arrow is always visable.
I used to utilize embedded drop down combo boxes (lots of flexibility) for list but they have plagued me with spreadsheet corruption over the years and I don't trust them anymore.
Relocated "Refresh Scenario at Expiry Table" button and "Protection Checkbox" for greater convenience.
Used stock price instead of equity or share price to be consistent.
Added print footer to profit diagram.

261363548.xlsx: Revisions

Page 1 of 8

02/23/2015

BASIC OPTION SRATEGY AND PROFIT/LOSS DIAGRAM SPREADSHEET

Stock name:

IBM

Stock Price at Option Expiry Scenario Range

High
Low
Increment
130.00
80.00
1.00

INPUT TABLE

Instrument

Initial Position

Stock Shares

Buy

Call Option 1

Sell

Call Option 2

Option Strike
Price

Current Unit
Price of
Instrument

# of Units Traded
(1 option covers
1 share)

Investment

100.00

(100.00)

110.00

2.00

2.00

Sell

120.00

2.00

2.00

Call Option 3

n/a

100.00

3.00

Put Option 1

n/a

100.00

3.00

Put Option 2

n/a

100.00

2.00

Put Option 3

n/a

100.00

2.00

1
Net Investment:

(96.00)

SCENARIO AT EXPIRY DATA TABLE

Instrument
Initial Position

Stock Shares
Buy

Initial Stock Price

or Option Strike
Units Traded

100.00
1.00

Stock Price at
Option Expiry
80.00
81.00
82.00
83.00
84.00
85.00
86.00
87.00
88.00
89.00
90.00
91.00
92.00
93.00
94.00
95.00
96.00
97.00
98.00
99.00

Cash Flow at
Expiry
80.00
81.00
82.00
83.00
84.00
85.00
86.00
87.00
88.00
89.00
90.00
91.00
92.00
93.00
94.00
95.00
96.00
97.00
98.00
99.00

Call Option 1
Sell

Call Option 2
Sell

110.00
1.00
Cash Flow at
Expiry

261363548.xlsx: Strategy_Input_Scenario_Table

Call Option 3
n/a

120.00
1.00
Cash Flow at
Expiry

Page 2 of 8

Put Option 1
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

02/23/2015

BASIC OPTION SRATEGY AND PROFIT/LOSS DIAGRAM SPREADSHEET

Stock name:

IBM

Stock Price at Option Expiry Scenario Range

High
Low
Increment
130.00
80.00
1.00

INPUT TABLE

Instrument

Initial Position

Stock Shares

Buy

Call Option 1

Sell

Call Option 2

Option Strike
Price

Current Unit
Price of
Instrument

# of Units Traded
(1 option covers
1 share)

Investment

100.00

(100.00)

110.00

2.00

2.00

Sell

120.00

2.00

2.00

Call Option 3

n/a

100.00

3.00

Put Option 1

n/a

100.00

3.00

Put Option 2

n/a

100.00

2.00

Put Option 3

n/a

100.00

2.00

1
Net Investment:

(96.00)

SCENARIO AT EXPIRY DATA TABLE

Instrument
Initial Position

Stock Shares
Buy

Initial Stock Price

or Option Strike
Units Traded

100.00
1.00

Stock Price at
Option Expiry
100.00
101.00
102.00
103.00
104.00
105.00
106.00
107.00
108.00
109.00
110.00
111.00
112.00
113.00
114.00
115.00
116.00
117.00
118.00
119.00
120.00

Cash Flow at
Expiry
100.00
101.00
102.00
103.00
104.00
105.00
106.00
107.00
108.00
109.00
110.00
111.00
112.00
113.00
114.00
115.00
116.00
117.00
118.00
119.00
120.00

Call Option 1
Sell

Call Option 2
Sell

110.00
1.00
Cash Flow at
Expiry

261363548.xlsx: Strategy_Input_Scenario_Table

Call Option 3
n/a

120.00
1.00
Cash Flow at
Expiry

(1.00)
(2.00)
(3.00)
(4.00)
(5.00)
(6.00)
(7.00)
(8.00)
(9.00)
(10.00)
Page 3 of 8

Put Option 1
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

02/23/2015

BASIC OPTION SRATEGY AND PROFIT/LOSS DIAGRAM SPREADSHEET

Stock name:

IBM

Stock Price at Option Expiry Scenario Range

High
Low
Increment
130.00
80.00
1.00

INPUT TABLE

Instrument

Initial Position

Stock Shares

Buy

Call Option 1

Sell

Call Option 2

Option Strike
Price

Current Unit
Price of
Instrument

# of Units Traded
(1 option covers
1 share)

Investment

100.00

(100.00)

110.00

2.00

2.00

Sell

120.00

2.00

2.00

Call Option 3

n/a

100.00

3.00

Put Option 1

n/a

100.00

3.00

Put Option 2

n/a

100.00

2.00

Put Option 3

n/a

100.00

2.00

1
Net Investment:

(96.00)

SCENARIO AT EXPIRY DATA TABLE

Instrument
Initial Position

Stock Shares
Buy

Call Option 1
Sell

Call Option 2
Sell

Initial Stock Price

or Option Strike
Units Traded

100.00
1.00

110.00
1.00

120.00
1.00

Stock Price at
Option Expiry
121.00
122.00
123.00
124.00
125.00
126.00
127.00
128.00
129.00
130.00

Cash Flow at
Expiry
121.00
122.00
123.00
124.00
125.00
126.00
127.00
128.00
129.00
130.00

Cash Flow at
Expiry
(11.00)
(12.00)
(13.00)
(14.00)
(15.00)
(16.00)
(17.00)
(18.00)
(19.00)
(20.00)

Cash Flow at
Expiry
(1.00)
(2.00)
(3.00)
(4.00)
(5.00)
(6.00)
(7.00)
(8.00)
(9.00)
(10.00)

261363548.xlsx: Strategy_Input_Scenario_Table

Page 4 of 8

Call Option 3
n/a

Put Option 1
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

02/23/2015

The purpose of this spreadsheet is to allow you to enter an equity position

in a company's stock and or implement an option strategy around a
company's stock. The "Scenario at Expiry Table" lets you see the resulting
economics if the positions were held to expiry. The resulting profit is
charted on the "Strategy Profit Diagram sheet".
Inputs cells are light yellow background with blue text. Enter your position
information and the range for stock prices along with the increments you
wish to see between the ranges. Then click the "Refresh Scenario at
Expiry Data Table" button. Remember to do this whenever inputs are
changed.
Spreadsheet protection is on to avoid mistakenly overwriting or deleting
formulas, etc. Feel free to turn it off if you are comfortable doing so.

Put Option 2
n/a

Put Option 3
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

261363548.xlsx: Strategy_Input_Scenario_Table

Total Cash Flow at

Expiry
80.00
81.00
82.00
83.00
84.00
85.00
86.00
87.00
88.00
89.00
90.00
91.00
92.00
93.00
94.00
95.00
96.00
97.00
98.00
99.00

Page 5 of 8

Position Profit /
(Loss) at Expiry
(16.00)
(15.00)
(14.00)
(13.00)
(12.00)
(11.00)
(10.00)
(9.00)
(8.00)
(7.00)
(6.00)
(5.00)
(4.00)
(3.00)
(2.00)
(1.00)
1.00
2.00
3.00
02/23/2015

The purpose of this spreadsheet is to allow you to enter an equity position

in a company's stock and or implement an option strategy around a
company's stock. The "Scenario at Expiry Table" lets you see the resulting
economics if the positions were held to expiry. The resulting profit is
charted on the "Strategy Profit Diagram sheet".
Inputs cells are light yellow background with blue text. Enter your position
information and the range for stock prices along with the increments you
wish to see between the ranges. Then click the "Refresh Scenario at
Expiry Data Table" button. Remember to do this whenever inputs are
changed.
Spreadsheet protection is on to avoid mistakenly overwriting or deleting
formulas, etc. Feel free to turn it off if you are comfortable doing so.

Put Option 2
n/a

Put Option 3
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

261363548.xlsx: Strategy_Input_Scenario_Table

Total Cash Flow at

Expiry
100.00
101.00
102.00
103.00
104.00
105.00
106.00
107.00
108.00
109.00
110.00
110.00
110.00
110.00
110.00
110.00
110.00
110.00
110.00
110.00
110.00

Page 6 of 8

Position Profit /
(Loss) at Expiry
4.00
5.00
6.00
7.00
8.00
9.00
10.00
11.00
12.00
13.00
14.00
14.00
14.00
14.00
14.00
14.00
14.00
14.00
14.00
14.00
14.00
02/23/2015

The purpose of this spreadsheet is to allow you to enter an equity position

in a company's stock and or implement an option strategy around a
company's stock. The "Scenario at Expiry Table" lets you see the resulting
economics if the positions were held to expiry. The resulting profit is
charted on the "Strategy Profit Diagram sheet".
Inputs cells are light yellow background with blue text. Enter your position
information and the range for stock prices along with the increments you
wish to see between the ranges. Then click the "Refresh Scenario at
Expiry Data Table" button. Remember to do this whenever inputs are
changed.
Spreadsheet protection is on to avoid mistakenly overwriting or deleting
formulas, etc. Feel free to turn it off if you are comfortable doing so.

Put Option 2
n/a

Put Option 3
n/a

100.00
1.00
Cash Flow at
Expiry

100.00
1.00
Cash Flow at
Expiry

261363548.xlsx: Strategy_Input_Scenario_Table

Total Cash Flow at

Expiry
109.00
108.00
107.00
106.00
105.00
104.00
103.00
102.00
101.00
100.00

Page 7 of 8

Position Profit /
(Loss) at Expiry
13.00
12.00
11.00
10.00
9.00
8.00
7.00
6.00
5.00
4.00

02/23/2015

Option Strategy
Profit / (Loss) Diagram
20
15
10
5
Profit / (Loss)
(5)
(10)
(15)
(20)

Stock Price at Expiration

261363548.xlsx: Strategy_Profit_Diagram

Page 8 of 8

02/23/2015