Short call (naked)
Sell a call without owning the underlying. You collect premium up front. Profit is capped at the premium, but losses are unlimited if the stock rallies.
INPUTS
Underlying price
$
Centers the payoff chart and computes P&L at this price.
LEGS
Short call
Type
Side
Strike
$
Qty
Premium
$
RESULT
$60.001 strike$140.00
P&L at current spot (expiry)
+$120
Net credit+$120
Max profit+$120
Max lossUnlimited
Breakeven$106.20
RISK PROFILE
Max profit
Premium received × 100 × contracts
Max loss
Unlimited (stock can rise indefinitely)
Breakeven
Strike + premium received
RELATED STRATEGIES
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