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OptionStategy r2

The document describes revisions made to a stock option strategy spreadsheet. Changes included updating fonts, adding error checking for input values, updating logic to handle single row scenarios, freezing panes for scrolling, changing dropdown menus, relocating buttons, and adding print footers. The spreadsheet allows users to enter stock and option positions and see resulting payouts across a range of expiry prices.

Uploaded by

Lokesh Kumar
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLS, PDF, TXT or read online on Scribd
109 views

OptionStategy r2

The document describes revisions made to a stock option strategy spreadsheet. Changes included updating fonts, adding error checking for input values, updating logic to handle single row scenarios, freezing panes for scrolling, changing dropdown menus, relocating buttons, and adding print footers. The spreadsheet allows users to enter stock and option positions and see resulting payouts across a range of expiry prices.

Uploaded by

Lokesh Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
You are on page 1/ 4

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.

71727719.xls.ms_office: Revisions

Page 1 of 4

4/23/2012

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

TRUE

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

110.00

2.00

(100.00)
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

(96.00)

Net Investment:

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.

SCENARIO AT EXPIRY DATA TABLE


Instrument
Initial Position
Initial Stock Price
or Option Strike
Units Traded
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
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
121.00
122.00
123.00
124.00
125.00
126.00
127.00
128.00
129.00
130.00

Stock Shares
Buy

100.00
1.00
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
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
121.00
122.00
123.00
124.00
125.00
126.00
127.00
128.00
129.00
130.00

Call Option 1
Sell

110.00
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)
(11.00)
(12.00)
(13.00)
(14.00)
(15.00)
(16.00)
(17.00)
(18.00)
(19.00)
(20.00)

71727719.xls.ms_office: Strategy_Input_Scenario_Table

Call Option 2
Sell

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)

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
-

Page 2 of 4

Put Option 2
n/a

100.00
1.00
Cash Flow at
Expiry
-

Put Option 3
n/a

100.00
1.00
Cash Flow at
Expiry
-

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
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
109.00
108.00
107.00
106.00
105.00
104.00
103.00
102.00
101.00
100.00

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
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
13.00
12.00
11.00
10.00
9.00
8.00
7.00
6.00
5.00
4.00

4/23/2012

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


company's stock. The "Scenario at Expiry Table" lets you see the resulting

Inputs cells are light yellow background with blue text. Enter your position

71727719.xls.ms_office: Strategy_Input_Scenario_Table

Page 3 of 4

4/23/2012

Option Strategy
Profit / (Loss) Diagram
20
15

Profit / (Loss)

10
5

(5)
(10)
(15)

130

128

126

124

122

120

118

116

114

112

110

108

106

104

102

100

98

96

94

92

90

88

86

84

82

80

(20)

Stock Price at Expiration

71727719.xls.ms_office: Strategy_Profit_Diagram

Page 4 of 4

4/23/2012

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