Profit from Ownership of an Option:
Profit long call = - Co + Max(S-X, 0)
Profit long put = - Po + Max(X-S, 0)
Where:
Co is the initial price paid for the call,
Po is the initial price paid for the put,
S is the final stock or underlying price,
X is the strike price, or the price at which the option owner is guaranteed the right to buy or sell the underlying product
