How much will my options position gain or lose if the stock moves $1?

How this is calculated

• Share-equivalent exposure equals delta per share, multiplied by 100 shares per contract, multiplied by the number of contracts.
• For a short position (an option you sold or wrote), the sign of delta flips. Selling a call behaves like short stock, and selling a put behaves like long stock, opposite of the delta shown for a long position in the same option.
• The dollar estimate for a stock price move equals the share-equivalent exposure multiplied by that move. A $1 move uses the exposure as is.
• This assumes one standard equity option contract represents 100 shares.
• Delta itself changes as the stock price moves, that change is called gamma. This calculator treats delta as fixed, so it is most accurate for small moves and less accurate for large ones.
• This does not account for time decay, changes in implied volatility, or interest rates, all of which also affect the option's actual price.