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  • Instrument Position X/FV: Payoffs

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    Akshay Gupta
    11 views10 pages
    The document contains information about the payoffs and profits of different financial instruments. It includes tables that show the payoffs and scratch values of instruments A, B, C and D across different stock prices. It also calculates the Black-Scholes value of a call option and shows the profits of each instrument when the stock price is $20. However, most of the profit and payoff values for instruments B, C and D are shown as errors, indicating they have not been fully specified.

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    Payoff

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    The document contains information about the payoffs and profits of different financial instruments. It includes tables that show the payoffs and scratch values of instruments A, B, C and D across different stock prices. It also calculates the Black-Scholes value of a call option and shows the profits of each instrument when the stock price is $20. However, most of the profit and payoff values for instruments B, C and D are shown as errors, indicating they have not been fully specified.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views10 pages

    Instrument Position X/FV: Payoffs

    Uploaded by

    Akshay Gupta
    The document contains information about the payoffs and profits of different financial instruments. It includes tables that show the payoffs and scratch values of instruments A, B, C and D across different stock prices. It also calculates the Black-Scholes value of a call option and shows the profits of each instrument when the stock price is $20. However, most of the profit and payoff values for instruments B, C and D are shown as errors, indicating they have not been fully specified.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 10

    Payoffs

    Instrument Position

    X/FV
    30

    A
    25
    20

    15
    10

    5
    0

    -5
    -10

    Graph

    -15
    -20
    -25
    -30

    Menus
    Instrument X/FV

    Position Graph

    Page 1

    10

    15

    20

    25

    30

    35

    Payoffs

    Call
    Put
    Stock
    Bond

    A
    B
    C
    D

    5 Long
    10 Short
    15
    20
    25
    30
    35

    instrument position
    2
    2
    1
    2
    1
    2
    1
    2

    Scratch Values
    S
    A
    0.0
    0.0
    2.5
    0.0
    5.0
    0.0
    7.5
    0.0
    10.0
    0.0
    12.5
    0.0
    15.0
    0.0
    17.5
    0.0
    20.0
    0.0
    22.5
    2.5
    25.0
    5.0
    27.5
    7.5
    30.0
    10.0
    32.5
    12.5
    35.0
    15.0
    37.5
    17.5
    40.0
    20.0

    B
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######

    Payoff A
    Payoff B
    Payoff C
    Payoff D
    Payoff All
    Payoff Combined
    Payoff All + Combined

    x/fv
    5
    5
    5
    5

    C
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    Graph
    5

    D
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    Page 2

    l/s
    1
    1
    1
    1

    Comb
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0

    x/fv
    20
    20
    20
    20

    Payoffs

    Graph
    S
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0
    22.5
    25.0
    27.5
    30.0
    32.5
    35.0
    37.5
    40.0

    1
    A
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0

    1
    B
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    C
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    D
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    Page 3

    0
    Comb
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    Payoffs

    40

    Page 4

    Profits

    Instrument Position

    X/FV
    30

    A
    Price

    6.90

    25
    20

    15
    10

    5
    0

    10

    15

    20

    25

    30

    35

    -5

    S0 = 20

    -10

    Graph

    -15
    -20
    -25
    -30

    Menus
    Instrument X/FV

    Price Inputs
    sigma

    Position Graph

    Page 5

    time

    Profits

    Call
    Put
    Stock
    Bond

    A
    B
    C
    D

    5 Long
    10 Short
    15
    20
    25
    30
    35

    instrument position
    2
    2
    1
    2
    1
    2
    1
    2

    Scratch Values
    S
    A
    0.0
    0.0
    2.5
    0.0
    5.0
    0.0
    7.5
    0.0
    10.0
    0.0
    12.5
    0.0
    15.0
    0.0
    17.5
    0.0
    20.0
    0.0
    22.5
    2.5
    25.0
    5.0
    27.5
    7.5
    30.0
    10.0
    32.5
    12.5
    35.0
    15.0
    37.5
    17.5
    40.0
    20.0

    B
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######
    ######

    0.8

    x/fv
    20
    20
    20
    20

    Price
    6.90
    0.00
    0.00
    0.00

    Payoff A
    Payoff B
    Payoff C
    Payoff D
    Payoff All
    Payoff Combined
    Payoff All + Combined
    Profit All
    Profit Combined
    Profit All + Combined
    Profit and Payoff All
    Profit and Payoff Combined

    x/fv
    5
    5
    5
    5

    C
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    Graph
    11

    D
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    Page 6

    l/s
    1
    1
    1
    1

    Comb
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0

    A?
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -4.4
    -1.9
    0.6
    3.1
    5.6
    8.1
    10.6
    13.1

    B?
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    Profits

    Graph
    S
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0
    22.5
    25.0
    27.5
    30.0
    32.5
    35.0
    37.5
    40.0

    1
    A
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    0.0
    2.5
    5.0
    7.5
    10.0
    12.5
    15.0
    17.5
    20.0

    1
    B
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    C
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    D
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    Page 7

    0
    Comb
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    A?
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -4.4
    -1.9
    0.6
    3.1
    5.6
    8.1
    10.6
    13.1

    1
    B?
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    Profits

    40

    rate

    S0

    Page 8

    Profits

    0.1

    20

    BScall
    6.916429
    6.916429
    6.916429
    6.916429

    N(d1)
    0.7002
    0.7002
    0.7002
    0.7002

    C?
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    D?
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!
    #VALUE!

    N(d2)
    0.3917
    0.3917
    0.3917
    0.3917

    D1
    0.5250
    0.5250
    0.5250
    0.5250

    D2
    -0.2750
    -0.2750
    -0.2750
    -0.2750

    Comb?
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -6.9
    -4.4
    -1.9
    0.6
    3.1
    5.6
    8.1
    10.6
    13.1

    Page 9

    Profits

    1
    C?
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    1
    D?
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    0
    Comb?
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0
    -80.0

    Page 10

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