Download this free spreadsheet to form various option strategies and view their payoff diagrams.

The spreadsheet allows you to create option strategies by combining long and short positions in stocks, call options and put options.

You can select unto 3 call options and 3 put options. For example, to create a short covered call, buy a stock (long stock), and sell a call option (short call). To create a long covered put, buy a stock, and buy a put option.

Option Trading Strategies Excel Spreadsheet - This spreadsheet helps you create any option strategy and view its profit and loss, and payoff diagram.