This Microsoft Excel spreadsheet is intended to illustrate payoff and profit diagrams for option contracts. The user can specify up to four positions (long or short) in various instruments. The available instruments are stocks, riskfree bonds, puts, and calls. With puts and calls, the user specifies the strike price. With bonds, the face value must be given by the user.

This file is intended for use only by students enrolled in Finance courses at Georgia State University. However, if you would like to use this file in another setting, please contact the author of the spreadsheet (Jason Greene) for permission.

Download Instructions

Windows

• Download PAYOFF.EXE.
• Execute (i.e., run) the program PAYOFF.EXE. This will unzip the Excel excel spreadsheet file PAYOFF.XLS.
• Open the spreadsheet file PAYOFF.XLS from Microsoft Excel version 5.0 or later. It may be best to view this spreadsheet in Excel using "Full Screen" view mode.

Macintosh

• Download PAYOFF.XLS.hqx.
• When prompted, save as PAYOFF.XLS.
• Open the spreadsheet file PAYOFF.XLS from Microsoft Excel version 5.0 or later. It may be best to view this spreadsheet in Excel using "Full Screen" view mode.

Instructions for using the spreadsheet.