Hold 100 shares and buy a put against them as insurance. Upside stays uncapped like owning the stock, while losses below the put strike are stopped — the put premium is the cost of that floor.
Premiums start as Black-Scholes model values — overwrite them with your broker’s real quotes for exact numbers.
| price | today | +4d | +8d | +11d | +15d | +19d | +23d | +26d | expiry |
|---|---|---|---|---|---|---|---|---|---|
| 130.0 | 2.9k | 2.9k | 2.9k | 2.9k | 2.9k | 2.9k | 2.9k | 2.9k | 2.9k |
| 125.0 | 2.4k | 2.4k | 2.4k | 2.4k | 2.4k | 2.4k | 2.4k | 2.4k | 2.4k |
| 120.0 | 1.9k | 1.9k | 1.9k | 1.9k | 1.9k | 1.9k | 1.9k | 1.9k | 1.9k |
| 115.0 | 1.4k | 1.4k | 1.4k | 1.4k | 1.4k | 1.4k | 1.4k | 1.4k | 1.4k |
| 110.0 | 881 | 877 | 873 | 871 | 868 | 867 | 867 | 867 | 867 |
| 105.0 | 415 | 404 | 394 | 387 | 379 | 372 | 368 | 367 | 367 |
| 100.0 | 0 | -18 | -36 | -50 | -70 | -92 | -113 | -127 | -133 |
| 95.0 | -324 | -344 | -366 | -384 | -411 | -442 | -480 | -516 | -633 |
| 90.0 | -530 | -545 | -560 | -572 | -589 | -606 | -623 | -632 | -633 |
| 85.0 | -628 | -633 | -637 | -640 | -642 | -642 | -640 | -637 | -633 |
| 80.0 | -659 | -658 | -655 | -653 | -649 | -645 | -641 | -637 | -633 |
| 75.0 | -666 | -662 | -657 | -654 | -650 | -645 | -641 | -637 | -633 |
| 70.0 | -666 | -662 | -658 | -654 | -650 | -645 | -641 | -637 | -633 |
Dollar P&L for the whole position. Pre-expiry cells are model values (constant IV); real marks will differ with volatility and skew.
An options position is a view on the company underneath. Our SEC-grounded verdicts, quality scores and filings coverage are free for every US-listed name.
Educational model, not trade advice. Options involve substantial risk and are not suitable for every investor — read the OCC’s Characteristics and Risks of Standardized Options. Model values use Black-Scholes with your inputs (constant volatility, European exercise, no dividends) and will differ from live market prices.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.