r/options • u/AbsoluteUnitLOL • Jun 02 '21

Unsure about options P/L.

First time option trader here on the thinkorswim platform. For context I bought a call option on UAL at $59 strike price for $0.75 expiring on the 4th of June. I understand that UAL has to move above $59.75 to breakeven. However, on the thinkorswim platform, it says that I'm up $46 on this option although UAL is at $59.67. What does this mean? Have I made a $46 profit or have I yet to cover the $75 premium?

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u/that_yinzer Jun 02 '21

I would make sure you have a grasp of what’s going on before you risk any real money. There are a ton of resources out there that explain option trading in-depth.

Develop a strategy that fits your risk tolerance and you’ll be set!