Options Analysis Software for Excel

Optionstar EZ

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OPTIONSTAR.

ut use it at your

sonable care)

Optionstar EZ
INTRODUCTION TO OPTIONS
Options as an alternative investment
Learn little known strategies of brokers and floor traders.
Make money in down markets. Profit whether the stock goes
up or down. Try Options as an alternative investment.
Options give you a virtually unlimited number of profit
opportunities for ANY direction (up, down, choppy, or still) you think the stock is headed.
You can limit both your profits and losses. You can control
much larger quantities of stock for the same cost of buying the stock.
Option Basics
Perhaps you have invested in a 401k.
Maybe you have bought or sold stocks, bonds, or mutual funds.
Options can be the next step in your short or long term investment strategies.
Different forms of options are used everyday. Why do you have insurance on your
house and car? It's to protect your property from an unlikely catastrophe for
a small amount known as a premium. In the same way some investors
buy options on stocks and indexes as insurance protection against their holdings.
The biggest advantage of options is their flexiblity. They can be as conservative or
speculative as your investment style needs to be. Here are some examples of strategies
you can do with options:
Protect your existing stock or mutual funds from big declines. (buy puts)
Profit fully from a stock increase for a fraction of the cost. (buy calls)
Profit generously from a stock increase for a smaller fraction of the cost. (bull spread)
Take in a monthly income from a stock you own. (covered calls)
Receive a payment for the opportunity to buy a stock at a discounted price. (put writing)
Profit from a market move up OR down. (straddles)
Benefit if the market stays still. (short straddles)
Buying Calls and Puts
The most fundamental options strategy is to buy call or buy puts.
First select a stock you are interested and go to an options chain quote service such as:
The Chicago Board Options Exchange CBOE:
http://quote.cboe.com/QuoteTable.asp
Dreyfus Brokerage:
http://www.edreyfus.com
Type in the symbol and you will get a list of available options.
Here is an options chain for Microsoft on 11/7/01:

Select an option you would like to purchase.

The Calls are on the left and Puts are on the right.
You will see the expiration date and exercise price for each option.
The premium quotes are listed under: last, bid, and ask.
In order to calculate the cost of the option, multiply the (premium) x (number of contracts) x (100 shares per contract)
Myths about options.
Myth 1:
"Options are very risky.. They are gambling"
While this can be certainly true for just buying options, option writing (or selling)
gives the investor many very conservative and high probability options strategies.
Options can even be used as insurance against existing stock positions.
Myth 2:
"Options are too complicated"
Understanding the basic option concept can be difficult at first. Read the intro
section for a very easy way to understand options.
Myth 3:
"Options are for rich people"
Buying options requires very little investment capital (under $1,000). Writing options account requirements
have dropped down to under $10,000 for many brokerages.
Myth 4:
"Options are rare and not easy to trade"
Options trading has exploded over the past 5 years. Now, options are available on over 2700 stocks.
All major online brokers (Etrade, Datek, and Ameritrade) now offer options trades as low as $10 a trade.
Myth 5:
"Most options expire worthless"
This can be true if there are more "out of the money" options than "in the money" and you are always the BUYER
of the option. If you become the SELLER of the options than you can take advantage of this.

Options are "rain checks"

An option is a right to buy or sell an asset for a specified price and time.
Let's say you want to buy a TV on sale at Wal-Mart. You drive there only
to find out that it's "sold out". So you go to the clerk and ask for a
"rain check". This "rain check" is a guarantee that you will get the TV
for the sale price when they are back in stock. There may be an expiration
date on the "rain check" for 1 month from the out of stock date.
This rain check qualifies as an Call option. You have the right to purchase
the TV for the sale price up to 1 month regardless of how much the
TV goes up or down in price during that period. You are the buying this
call option and Wal Mart is the seller. The only difference of this
rain check versus a real option is that there is NO value on this option and
it is probably non-transferable.
Now, let's use this same concept for a stock. For instance, you want to
buy Microsoft stock and it is trading at $50 a share. Instead of buying the
stock, you decide to purchase a "right to buy the stock at 50" which will
expire on 1/15/01. You would be willing to pay $3 for this right to buy Microsoft
before 1/15/01 at $50. On the other side of this deal, there is someone
who is willing to sell you this right for you to buy Microsoft from him for 50.
He wants $3 for granting you this contract.
Comparison table: Stock option VS Rain check for TV

Option components:
Expiration Date

Stock
###

Rain
check
for TV
###

Strike (exercise) price

50

500

Call (buy) or Put (sell)

call

call

NO
VALUE
(non
transferr
able)

Option price

Buying a Call option and the power of leverage.

In the previous example, we are buying a Microsoft 50 Call Option for $3.
This would be the right (but not the obligation) to buy Microsoft for $50 on or
before the expiration date. On expiration, if Microsoft is below $50 the
option expires worthless and you would lose your $3.
If it is anywhere above $50, you would profit dollar per dollar less your $3 cost.
A profit loss table for 1 call option contract (100 shares, total cost: $300) would look as follows:
stk price
p/l at exp

20
-300

30
-300

40
-300

50
-300

60
700

70
1700

80
2700

p/l% at exp

-100%

-100%

-100%

-100%

233%

567%

900%

The same $300 investment in buying MSFT would have got you only 6 shares:
stk price
p/l at exp
p/l% at exp

20
-180
-60%

30
-120
-40%

40
-60
-20%

50
0
0%

60
60
20%

70
120
40%

80
180
60%

As you can see, the power in buying options involves controlling substantially more shares
for the same cost. You also limit your maximum risk to the lower cost of the option.
The only downside to buying options is that your probability is high that the stock will stay
the same resulting in you losing some or all of your option value.
Buying Put options.
Buying put options are the same strategy as buying calls, only betting the stock will go down
instead of up. So the you could buy a 50 Put Option for $3. This would be the right to SELL
Microsoft for $50 before the expiration date. On expiration, if Microsoft is above $50, the
option expires worthless and you would lose your $3.
If it is anywhere below $50, you would profit dollar per dollar less your $3 cost.
A profit loss table for 1 put option contract (100 shares, total cost: $300) would look as follows:
stk price
p/l at exp
p/l% at exp

20
2700
900%

30
1700
567%

40
700
233%

50
-300
-100%

60
-300
-100%

70
-300
-100%

80
-300
-100%

CLICK HERE to analyze: BUY CALL or BUY PUT

Writing options for high probability investing
Put Writing
A "naked put" is simply selling or writing a put option instead of buying it.
Here, you would be selling a 50 put for $3. You would give someone else the
right to sell you the stock for $50 on or before expiration for a $3 credit.
stk price
p/l at exp
p/l% at exp

20
-2700
-900%

30
-1700
-567%

40
-700
-233%

50
300
100%

60
300
100%

70
300
100%

80
300
100%

Here your loss would be almost unlimited and your profit would be limited to $300.
The probability would be high that the stock would stay the same or go up giving you the $300 profit.
Covered Calls
A "covered call" has the same exact profit and loss table as a naked put.
Here you would buy 100 shares of a $50 stock and sell (write) a 50 call for $3.
Basically, selling the 50 call would give someone the the right to buy the stock
from you for $50 on or before expiration. In return for granting this, you will
receive $3. Should the stock close above $50 at expiration, you would end up
selling your stock to that person for $50 and profiting $300. If the stock is

below $50, you would still own it and keep the $300.
CLICK HERE to analyze a COVERED CALL

Buying a put as insurance for an existing stock position

If you own an existing stock and are worried that there may be huge correction
in the short term, you can buy a put to insure the stock against such a catastrophe.
For example, you own 100 shares of a stock with a current price of $50.
You buy a 40 put for $1 which expires in one month. Should the stock drop toward $40
on or before expiration, your profits from the put could offset the losses on the stock.
stk price
stock pl
put option pl
NET pl

20
-3000
2900
-100

30
-2000
1900
-100

40
-1000
900
-100

50
0
-100
-100

60
1000
-100
900

70
2000
-100
1900

80
3000
-100
2900

The put will limit your total losses to only $100 (cost of the put) reduce your gains by the same amount.
Bull Spread - a conservative option play
A more conservative approach to just buying a call would be the bull spread.
This involves buying one call and selling another call further out.
For example, a stock is trading at $50 and you buy the 50 call for $3 and sell the 60 call for $1.
This would result in a spread position where you max loss and profit are limited. The max
profit would be $800 and the max loss would be $200 (net cost).
The PL at expiration table would look as follows:
stk price
buy 50 call@3
sell 60 call@1
net pl

20
-300
100
-200

30
-300
100
-200

40
-300
100
-200

50
-300
100
-200

60
700
100
800

70
1700
-900
800

80
2700
-1900
800

This position in comparision to just buying the call, would give you a lower maximum risk and
limit the max profit to $800.
CLICK HERE to analyze a BULL SPREAD

Straddle - Making money up or down

A straddle option spread allows you to make money whether the stock moves up OR down.
It is simply combining a buy put and buy call option. The Straddle will only lose if the stock stays the same.
The PL at expiration table for a STRADDLE would look as follows:
stk price
buy 50 call@3
buy 50 put@3

20
-300
2700

30
-300
1700

40
-300
700

50
-300
-300

60
700
-300

70
1700
-300

80
2700
-300

net pl

2400

1400

400

-600

400

1400

2400

Short Straddle - Making money if the Stock stays the same

A Short Straddle is the opposite of the straddle. It is combining a SELL call and SELL put option.
The PL at expiration table for a SHORT STRADDLE would look as follows:
stk price
sell 50 call@3
sell 50 put@3
net pl

20
300
-2700
-2400

30
300
-1700
-1400

40
300
-700
-400

50
300
300
600

60
-700
300
-400

70
-1700
300
-1400

80
-2700
300
-2400

A short straddle is a neutral position making money if the stock stays around 50 with an unlimited
risk exposure.
CLICK HERE to analyze a STRADDLE

SUMMARY TABLE: Basic Option Strategies TABLE

STRATEGY

Options
Components*
Buy Call
bc
Buy Put
bp
Sell Call
sc
Sell Put
sp
Covered Calls bu+sc
Bull Spread
bac+soc
Bear Spread
bap+sop
Straddle
bc+bp
Short Straddle sc+bc

DIRECTION

MAX PROFIT

MAX RISK

very bullish
very bearish
moderate bearish
moderate bullish
moderate bullish
bullish
bearish
volatile
neutral

unlim
unlim
cost of option
cost of option
cost of option
strike spread
strike spread
unlim
cost of options

cost of option
cost of option
unlim
unlim
unlim
cost of options
cost of options
cost of options
unlim

*Option Component Abbreviation Table

buy at the money call (bac)
buy at the money put (bap)

sell at the money call (sac)

sell at the money put (sap)

buy out of the money call (boc)

buy out of the money put (bop)

sell out of the money call (soc)

sell out of the money put (sop)

buy in the money call (bic)

buy in the money put (bip)

sell in the money call (sic)

sell in the money put (sip)

CLICK HERE to analyze a CUSTOM SPREAD

) x (100 shares per contract)

count requirements

2700 stocks.
w as $10 a trade.

ou are always the BUYER

same amount.

ck stays the same.

Welcome to: Optionstar EZ

OPTIONS ANALYSIS MENU

(Click on selected analysis)

1 Single Calls or Puts

Protect your existing stock or mutual funds from big declines. (buy p
Profit fully from a stock increase for a fraction of the cost. (buy calls
Receive a payment for the opportunity to buy a stock at a discounte

2 Covered Calls

Take in a monthly income from a stock you own. (covered calls)

3 Bull / Bear Spread (ratios also)

Profit generously from a stock increase for a smaller fraction of the c

4 Straddles

Profit from a market move up OR down. (straddles)

Benefit if the market stays still. (short straddles)

5 Custom Analysis

tual funds from big declines. (buy puts)

for a fraction of the cost. (buy calls)
tunity to buy a stock at a discounted price. (put writing)

stock you own. (covered calls)

crease for a smaller fraction of the cost. (bull spread)

R down. (straddles)
hort straddles)

Optionstar EZ
SINGLE CALLS or PUTS
POSITION DATA
Stock Price
Stock Volatility
Option
Qty (no. contracts)
Expiration
Option Strike
Option Price

50.00
30%
buy call

1
2/19/2002
50.00
2.00

Intrinsic Value

Time Value

Option Value
Implied Volatility

Required Input Cells in Green

PROFIT & LOSS (at expiration) TABLE

16.7
33.3
50.0
(200)
(200)
(200)
(200)
-100% -100% -100% -100%
###
###
###
###
PROFIT & LOSS GRAPH
PL at: 7/28/2015
7/28/2015

83.3
3,133
1567%
###

Price interval:

100.0
4,800
2400%
###
16.67

6,000

2.00

5,000

#MACRO?
#MACRO?

4,000

POSITION SUMMARY
Total Cost
200
Max Profit
4,800
Max Loss
(200)
Breakeven Price
52.00
Probability of profit
Err:502
Expected Return
Err:502

66.7
1,467
733%
###

3,000
2,000
1,000
-

16.7

33.3

50.0

66.7

83.3

100.0

50.0
200
4%

66.7
700
15%

83.3
700
15%

100.0
700
15%

50.0

66.7

83.3

100.0

(1,000)

COVERED CALLS
POSITION DATA
Stock Price
Stock Volatility
Qty (no. contracts)
Expiration
Call Strike
Call Price
Intrinsic Value
Time Value

Call Value
Implied Volatility

50.00
30%
1
12/19/2001
55.00
2.00
2.00

#MACRO?
#MACRO?

POSITION SUMMARY
Total cost
4,800
Max Profit
700
Max Loss
(4,800)
Breakeven Price
48.00
Probability of profit
Err:502
Yield if assigned
15%
Yield at cur price
4%
Yld (ann) if assn
-1%

PROFIT & LOSS TABLE

16.7
33.3
(4,800) (3,133) (1,467)
-100%
-65%
-31%
PROFIT & LOSS GRAPH
2,000
1,000
(1,000)
(2,000)
(3,000)
(4,000)
(5,000)
(6,000)

16.7

33.3

Yld (ann) at cur pric

0%

BULL / BEAR SPREAD

POSITION DATA
Stock Price
Stock Volatility
Call or Put Spread
Qty (no. contracts)
Expiration
Option Strike
Option Price

PROFIT & LOSS (at expiration) TABLE

35.0
40.0
45.0
50.0
(400)
(400)
(400)
100

50
30%
call
call
Buy Option
1
2/19/2002
45
7

Sell Option
1
2/19/2002
50
3

Intrinsic Value

5.00

Time Value

2.00

3.00

#MACRO?
#MACRO?
700
POSITION SUMMARY
Total Cost
400
Max Profit
100
Max Loss
(400)
Breakeven Price
49.00
Probability of profit
Err:502
Expected Return
Err:502

###
###
300

Option Value
Implied Volatility

PROFIT & LOSS GRAPH

55.0
100

Price Interval:

200
100
35.0
(100)

40.0

45.0

50.0

55.0

60.0

(200)
(300)
(400)
(500)

STRADDLE
POSITION DATA
Stock Price
50
Stock Volatility
30%
Buy or Sell Spread sell
call option
Qty (no. contracts)
1
Expiration
2/19/2002
Option Strike
40
Option Price
11
Intrinsic Value

PROFIT & LOSS (at expiration) TABLE

25.0
33.3
41.7
50.0
(1,300)
(467)
200
200
put option
1
2/19/2002
60
11

10.00

10.00

1.00

1.00

#MACRO?
#MACRO?
1100
POSITION SUMMARY

###
###
1100

Time Value

Option Value
Implied Volatility

PROFIT & LOSS GRAPH

58.3
200

Price Interval:

400
200
25.0
(200)
(400)
(600)
(800)
(1,000)
(1,200)
(1,400)

33.3

41.7

50.0

58.3

66.7

25.0
(200)
(400)
(600)
(800)

Total Cost
Max Profit
Max Loss
Breakeven Price 1
Breakeven Price 2
Probability of profit
Expected Return

(2,200)
200
(3,800)
38
62
Err:502
Err:502

(1,000)
(1,200)

Err:502
Err:502

(1,400)

33.3

41.7

50.0

58.3

66.7

(200)

4,800

Buy or Sell

buy

1 buy call

buy

call

1
16.67

Call or Put

call

2 buy put
3 sell call
4 sell put

buy
sell
sell

put
call
put

2
3
4

12.50
8.33
5.00

1,467
(200)
###
###

3,133
(200)
###
###

prob
1
3
1a
3a

Err:502
(200)
4,800
###
###

(200)
3,133
###
###

TP cp, stk,strk, yrs, int, div,svol

IVH cp, stk,strk, yrs, int,div,prem
=C6*0.4*C7*SQRT((C10-NOW())/365)
=C13/(C6*0.4*SQRT((C10-NOW())/365))

100.0

100.0

(200)
1,467
###
###

(200)
(200)
###
###

0.0

prob
Err:502

60.0
100
Price Interval:

3
4

65.0
100
5.00

4
16.67 call
12.50 put

1
2

8.33
5.00

bc

35.0
(700)

40.0
(700)

45.0
(700)

50.0
(200)

55.0
300

sc
bull sprd

300
(400)

300
(400)

300
(400)

300
100

(200)
100

300
(1,200)
(900)

(200)
(700)
(900)

(700)
(200)
(900)

(700)
300
(400)

(700)
300
(400)

25.0
(1,100)
2,400
1,300

33.3
(1,100)
1,567
467

41.7
(933)
733
(200)

50.0
(100)
(100)
(200)

58.3
733
(933)
(200)

5
bp
sp
bear sprd

55.0

60.0

65.0

66.7
75.0
(467) (1,300)
Price Interval:

58.3

66.7

8.33333

8.33

75.0

1
2
3

3
16.67
12.50
8.33

5.00

(3,800)

(3,800) bc
bp
straddle

0.0

58.3

66.7

75.0

16.6667
1

1
7/28/2015

1
2

2
3
4

3/18/2012
11/7/2008
2/19/2002

3
4
5
6
7
8
9
10
11
12
13
14

4,800
(200)
###
###

0
(200)
4,800

100.00
4,800
(200)

60.0
800

65.0
1,300

(700)
100

(1,200)
100

(700)
300
(400)

(700)
300
(400)

66.7
1,567
(1,100)
467

75.0
2,400
(1,100)
1,300

100.0

0
(1,100)
4,900
3,800

100
4,900
(1,100)
3,800

Optionstar EZ

Required Input Cells in Green

CUSTOM SPREAD
POSITION DATA
Stock Price
POSITIONS:

200
(200)
200
200
200
200
50.00 Stock Volatility
1
2
3

(200)
200
30.0% interest rt
4
5

2.5%
6

TOTAL

buy Put 3 sell Put 4 buy Call 1 sell Call 2

Option
Qty (no. contracts)
1
2
1
2
Expiration
2/19/2002 2/19/2002 2/19/2002 2/19/2002
Option Strike
50.00
45.00
50.00
55.00
Option Price
2.00
1.00
2.00
1.00
Option Value
###
### #MACRO? #MACRO?
Intrinsic Value
Time Value

Option Theoretical
Implied Volatility
TOTAL COST
GREEKS
Net Delta (stk prc)
gamma (delta)
theta (time to exp)
vega (volatility)
rho (interest)

2.00

1.00

2.00

1.00

###
###
200

### #MACRO? #MACRO?

### #MACRO? #MACRO?
(200)
200
(200)

change in option value due to change in one unit of

500
21.43
(500)

TOTAL

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

#MACRO?

(1,000)
(1,500)
(2,000)

SUM
PROFIT & LOSS (at expiration) TABLE
21.43
28.57
35.71
42.86
(1,857)

PL at

(1,143)

(429)

50.00

286

57.14

286

Price Interval

7/28/2015 7/28/2015

64.29

71.43

(429)

(1,143)

7.14286
7.14

500

78.57
(1,857)

1 bc
2
3
4
5
6

sc
bp
sp
bu
su

21.43

28.57

35.71

42.86

50.00

57.14

64.29

71.43

1
2
3
4
5
6

(500)
(1,000)
(1,500)

bc
sc
bp
sp
bu
su
2

(2,000)

POSITION SUMMARY at Expiration

Total Cost
Total Delta
#MACRO?

78.57

Max Profit
Max Loss

286
(4,000)

1
2
3
4
5
6

bc
sc
bp
sp
bu
su
3

1
2
3
4
5
6

bc
sc
bp
sp
bu
su
4

1
2
3
4
5
6

bc
sc
bp
sp
bu
su
5

1 bc
2 sc
3 bp

4 sp
5 bu
6 su
6

(1,857)

(1,143)

(429)

286

21.43
(200)

28.57
(200)

35.71
(200)

42.86
(200)

200
2,657
(2,657)
(2,857)
2,857
2,657

200
200
1,943
1,229
(1,943) (1,229)
(2,143) (1,429)
2,143
1,429
1,943
1,229

200
514
(514)
(714)
714
514

(200)
200
4,514
(4,514)
(5,714)
5,714
(4,514)

286

(429)

(1,143)

(1,857)

(4,000)

(4,000)

50.00
(200)

57.14
514

64.29
1,229

71.43
1,943

78.57
2,657

(200)

100.00
4,800

200
(200)
200
(200)

(514)
(200)
200
714
(714)
(200)

(1,229)
(200)
200
1,429
(1,429)
(200)

(1,943)
(200)
200
2,143
(2,143)
(200)

(2,657)
(200)
200
2,857
(2,857)
(200)

200
4,800
(4,800)
(5,000)
5,000
4,800

(4,800)
(200)
200
5,000
(5,000)
(200)

(200)
(200)
(200)
200
200
200
3,086
1,657
229
(3,086) (1,657)
(229)
(4,286) (2,857) (1,429)
4,286
2,857
1,429
(3,086) (1,657)
(229)

800 2,229
(800) (2,229)
(200)
(200)
200
200
1,429
(1,429)
200
200

3,657
(3,657)
(200)
200
2,857
(2,857)
200

5,086
(5,086)
(200)
200
4,286
(4,286)
200

6,514
(200) 10,800
(6,514)
200 (10,800)
(200)
8,800
(200)
200
(8,800)
200
5,714 (10,000) 10,000
(5,714) 10,000 (10,000)
200
(8,800)
200

(200)
200
2,657
(2,657)
(2,857)
2,857
(200)

(200)
(200)
200
200
1,943
1,229
(1,943) (1,229)
(2,143) (1,429)
2,143
1,429
(200)
(200)

(200)
200
(200)
200
(200)

514
(514)
(200)
200
714
(714)
514

1,229
(1,229)
(200)
200
1,429
(1,429)
1,229

1,943
(1,943)
(200)
200
2,143
(2,143)
1,943

2,657
(2,657)
(200)
200
2,857
(2,857)
2,657

(200)
200
6,514
(6,514)
(5,714)
5,714
200

(200)
(200)
(200)
200
200
200
5,086
3,657
2,229
(5,086) (3,657) (2,229)
(4,286) (2,857) (1,429)
4,286
2,857
1,429
200
200
200

(200)
229
200
(229)
800
(200)
(800)
200
1,429
(1,429)
200
(229)

1,657
(1,657)
(200)
200
2,857
(2,857)
(1,657)

3,086
(3,086)
(200)
200
4,286
(4,286)
(3,086)

4,514
(200)
8,800
(4,514)
200
(8,800)
(200) 10,800
(200)
200 (10,800)
200
5,714 (10,000) 10,000
(5,714) 10,000 (10,000)
(4,514)
200
(8,800)

(200)
200
514
(514)
(714)
714
(200)

(200)
200
4,800
(4,800)
(5,000)
5,000
(200)

4,800
(4,800)
(200)
200
5,000
(5,000)
4,800

(1,857)

(1,143)

(429)

286

21.43
(200)

28.57
(200)

35.71
(200)

42.86
(200)

200
2,657
(2,657)
(2,857)
2,857
2,657

200
1,943
(1,943)
(2,143)
2,143
1,943

200
1,229
(1,229)
(1,429)
1,429
1,229

(200)
200
4,514
(4,514)
(5,714)
5,714
(4,514)

(200)
200
3,086
(3,086)
(4,286)
4,286
(3,086)

(200)
200
2,657
(2,657)
(2,857)
2,857
(200)
(200)
200
6,514
(6,514)
(5,714)
5,714
200

286

(429)

(1,143)

(1,857)

50.00
(200)

57.14
514

64.29
1,229

71.43
1,943

78.57
2,657

200
514
(514)
(714)
714
514

200
(200)
200
(200)

(514)
(200)
200
714
(714)
(200)

(1,229)
(200)
200
1,429
(1,429)
(200)

(1,943)
(200)
200
2,143
(2,143)
(200)

(2,657)
(200)
200
2,857
(2,857)
(200)

(200)
200
1,657
(1,657)
(2,857)
2,857
(1,657)

(200)
200
229
(229)
(1,429)
1,429
(229)

800
(800)
(200)
200
200

2,229
(2,229)
(200)
200
1,429
(1,429)
200

3,657
(3,657)
(200)
200
2,857
(2,857)
200

5,086
(5,086)
(200)
200
4,286
(4,286)
200

6,514
(6,514)
(200)
200
5,714
(5,714)
200

(200)
200
1,943
(1,943)
(2,143)
2,143
(200)

(200)
200
1,229
(1,229)
(1,429)
1,429
(200)

(200)
200
514
(514)
(714)
714
(200)

(200)
200
(200)
200
(200)

514
(514)
(200)
200
714
(714)
514

1,229
(1,229)
(200)
200
1,429
(1,429)
1,229

1,943
(1,943)
(200)
200
2,143
(2,143)
1,943

2,657
(2,657)
(200)
200
2,857
(2,857)
2,657

(200)
200
5,086
(5,086)
(4,286)
4,286
200

(200)
200
3,657
(3,657)
(2,857)
2,857
200

(200)
200
2,229
(2,229)
(1,429)
1,429
200

(200)
200
800
(800)
200

229
(229)
(200)
200
1,429
(1,429)
(229)

1,657
(1,657)
(200)
200
2,857
(2,857)
(1,657)

3,086
(3,086)
(200)
200
4,286
(4,286)
(3,086)

4,514
(4,514)
(200)
200
5,714
(5,714)
(4,514)

1
2
3
4
5
6
7
1
buy Call
sell Call
buy Put
sell Put
buy Stk
sell Stk

3 7.142857
1
12.50
1 7/28/2015
10.00
2 3/18/2012
7.14
5.00
3.33
2.50
1.25

3 11/7/2008
4 2/19/2002