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Break-even
Options
Was es bedeutet
The underlying price at which an option trade results in zero profit at expiration. For call options, break-even is strike price + premium per share. For put options, break-even is strike price - premium per share. The underlying must move past the break-even point at expiration for the trade to be profitable.
Beispiel
You buy a call with a $500 strike and $3 premium. The break-even price is $503. If SPY closes at $503 at expiration, you make $0 profit. If it closes above $503, you profit; if it closes below $503, you lose money (up to the full $300 premium if SPY is at or below $500).
Der häufigste Anfängerfehler
Beginners think they only need the underlying to move in their direction to profit, but they forget to account for the premium paid. You need the underlying to move far enough to cover the premium before you can start making money.
Verwandte Begriffe
- Call Option — A contract that gives you the right (but not the obligation) to buy 100 shares of an under…
- Put Option — A contract that gives you the right (but not the obligation) to sell 100 shares of an unde…
- Option Premium — The price you pay per share to buy an option contract. The total cost of the option is the…