document.xlsx: Revisions Page 1 of 3 04/19/2023

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.

document.xlsx: Strategy_Input_Scenario_Table Page 2 of 3 04/19/2023

BASIC OPTION SRATEGY AND PROFIT/LOSS DIAGRAM SPREADSHEET

Stock name: IBM Stock Price at Option Expiry Scenario RangeHigh Low Increment

TRUE 130.00 80.00 1.00

INPUT TABLE

Instrument Initial Position Investment

Stock Shares Buy 100.00 1 (100.00)

Call Option 1 Sell 110.00 2.00 1 2.00

Call Option 2 Sell 120.00 2.00 1 2.00

Call Option 3 n/a 100.00 3.00 1 -

Put Option 1 n/a 100.00 3.00 1 -

Put Option 2 n/a 100.00 2.00 1 -

Put Option 3 n/a 100.00 2.00 1 - Net Investment: (96.00)

SCENARIO AT EXPIRY DATA TABLEInstrument Stock Shares Call Option 1 Call Option 2 Call Option 3 Put Option 1 Put Option 2 Put Option 3

Initial Position Buy Sell Sell n/a n/a n/a n/a

100.00 110.00 120.00 100.00 100.00 100.00 100.00 Units Traded 1.00 1.00 1.00 1.00 1.00 1.00 1.00

80.00 80.00 - - - - - - 80.00 (16.00) 81.00 81.00 - - - - - - 81.00 (15.00) 82.00 82.00 - - - - - - 82.00 (14.00) 83.00 83.00 - - - - - - 83.00 (13.00) 84.00 84.00 - - - - - - 84.00 (12.00) 85.00 85.00 - - - - - - 85.00 (11.00) 86.00 86.00 - - - - - - 86.00 (10.00) 87.00 87.00 - - - - - - 87.00 (9.00) 88.00 88.00 - - - - - - 88.00 (8.00) 89.00 89.00 - - - - - - 89.00 (7.00) 90.00 90.00 - - - - - - 90.00 (6.00) 91.00 91.00 - - - - - - 91.00 (5.00) 92.00 92.00 - - - - - - 92.00 (4.00) 93.00 93.00 - - - - - - 93.00 (3.00) 94.00 94.00 - - - - - - 94.00 (2.00) 95.00 95.00 - - - - - - 95.00 (1.00) 96.00 96.00 - - - - - - 96.00 - 97.00 97.00 - - - - - - 97.00 1.00 98.00 98.00 - - - - - - 98.00 2.00 99.00 99.00 - - - - - - 99.00 3.00 100.00 100.00 - - - - - - 100.00 4.00 101.00 101.00 - - - - - - 101.00 5.00 102.00 102.00 - - - - - - 102.00 6.00 103.00 103.00 - - - - - - 103.00 7.00 104.00 104.00 - - - - - - 104.00 8.00 105.00 105.00 - - - - - - 105.00 9.00 106.00 106.00 - - - - - - 106.00 10.00 107.00 107.00 - - - - - - 107.00 11.00 108.00 108.00 - - - - - - 108.00 12.00 109.00 109.00 - - - - - - 109.00 13.00 110.00 110.00 - - - - - - 110.00 14.00 111.00 111.00 (1.00) - - - - - 110.00 14.00 112.00 112.00 (2.00) - - - - - 110.00 14.00 113.00 113.00 (3.00) - - - - - 110.00 14.00 114.00 114.00 (4.00) - - - - - 110.00 14.00 115.00 115.00 (5.00) - - - - - 110.00 14.00 116.00 116.00 (6.00) - - - - - 110.00 14.00 117.00 117.00 (7.00) - - - - - 110.00 14.00 118.00 118.00 (8.00) - - - - - 110.00 14.00 119.00 119.00 (9.00) - - - - - 110.00 14.00 120.00 120.00 (10.00) - - - - - 110.00 14.00 121.00 121.00 (11.00) (1.00) - - - - 109.00 13.00 122.00 122.00 (12.00) (2.00) - - - - 108.00 12.00 123.00 123.00 (13.00) (3.00) - - - - 107.00 11.00 124.00 124.00 (14.00) (4.00) - - - - 106.00 10.00 125.00 125.00 (15.00) (5.00) - - - - 105.00 9.00 126.00 126.00 (16.00) (6.00) - - - - 104.00 8.00 127.00 127.00 (17.00) (7.00) - - - - 103.00 7.00 128.00 128.00 (18.00) (8.00) - - - - 102.00 6.00 129.00 129.00 (19.00) (9.00) - - - - 101.00 5.00 130.00 130.00 (20.00) (10.00) - - - - 100.00 4.00

Option Strike Price

Current Unit Price of

Instrument

# of Units Traded (1 option covers

1 share)

Initial Stock Price or Option Strike

Stock Price at Option Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Cash Flow at Expiry

Total Cash Flow at Expiry

Position Profit / (Loss) at Expiry

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.

document.xlsx: Strategy_Profit_Diagram Page 3 of 3 04/19/2023

80

82

84

86

88

90

92

94

96

98

100

102

104

106

108

110

112

114

116

118

120

122

124

126

128

130

(20)

(15)

(10)

(5)

-

5

10

15

20

Option Strategy Profit / (Loss) Diagram

Stock Price at Expiration

Pro

fit

/ (L

oss)