41 lines
966 B
Plaintext
41 lines
966 B
Plaintext
492A COMPleTe gUIde TO THe FUTUreS MArKeT
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tabLe 35.3a profit/Loss Calculations: Long Call (at-the-Money)
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(1) (2) (3) (4) (5)
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Futures price at
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expiration ($/oz)
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premium of august
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$1,200 Call at
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Initiation ($/oz)
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$ amount of
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premium paid
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Call Value at
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expiration
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profit/Loss of
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position [(4) – (3)]
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1,000 38.8 $3,880 $0 –$3,880
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1,050 38.8 $3,880 $0 –$3,880
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1,100 38.8 $3,880 $0 –$3,880
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1,150 38.8 $3,880 $0 –$3,880
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1,200 38.8 $3,880 $0 –$3,880
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1,250 38.8 $3,880 $5,000 $1,120
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1,300 38.8 $3,880 $10,000 $6,120
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1,350 38.8 $3,880 $15,000 $11,120
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1,400 38.8 $3,880 $20,000 $16,120
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FIGURE 35.3a Profi t/loss Profi le: long Call (At-the-Money)
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Price of August gold futures at option expiration ($/oz)
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Futures at time of position
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initiation and strike price
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Breakeven price = $1,238.80
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Profit/loss at expiration ($)
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1,000
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15,000
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17,500
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12,500
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10,000
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7 ,500
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2,500
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0
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−2,500
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−5,000
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5,000
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1,050 1,100 1,150 1,200 1,250 1,300 1,350 1,400 |