Pinned
An option is said to be pinned when at expiry the asset price is exactly the same as an options strike price.
Position
Each and every option, future and underlying holding of a specific asset.
Premium
The price of an options contract, determined in the competitive marketplace, which the buyer of the option pays to the option writer.
Profit Graph or Payoff Diagram
A graphical representation of the potential outcomes of a strategy. Profit or loss is graphed on the vertical axis, and various underlying asset prices are graphed on the horizontal axis. The graph usually depicts the P&L at expiration of the options involved in the strategy.
Profit Range
The range within which a particular position makes a profit. Generally used in reference to strategies that have two break-even points – an upside break-even and a downside break-even. The price range between the two break-even points would be the profit range (which may be negative!). See also Break-Even Point.
Profit Table
A table of results of a particular strategy at some point in time. This is usually a tabular compilation of the data drawn on a profit graph.
Put
See Digital Put