Payoff Lab: Examples
A deterministic calculator comparing long-stock and covered-call payoff at expiry.
#Interactive expiry payoff
Absolute breakeven $176.00Maximum simplified PnL +$24.00
| Stock at expiry | Long stock PnL | Covered-call PnL | Relative difference |
|---|---|---|---|
| $0.00 | −$180.00 | −$176.00 | +$4.00 |
| $90.00 | −$90.00 | −$86.00 | +$4.00 |
| $180.00 | $0.00 | +$4.00 | +$4.00 |
| $200.00 | +$20.00 | +$24.00 | +$4.00 |
| $270.00 | +$90.00 | +$24.00 | −$66.00 |
#Deterministic formulas
Covered-call value = min(S_T, K) + premiumCovered-call PnL = min(S_T, K) + premium − S₀Long-stock PnL = S_T − S₀Relative covered-call PnL = premium − max(S_T − K, 0)#Scope
- No live option quote or implied-volatility model.
- No execution cost, tax or fee assumption.
- No contract-address, multiplier or corporate-action adjustment.
- No path-dependent close, assignment or transfer behavior.