Price chart for TXU butterfly

Some new things that might be of concern to a option trader, Implied Volatility. Here we see the may options I.Vol, the put vol, is higer than the Call vol, so if we want a Long position in Volatility (like in my earlier post, where i will benefit, if the volatility of the underlying increases), use the Calls...... this is because, i am assuming that a Call or Put of same strike price should have equivalent implied volatility (we dont see that here, at those higher strikes, indicating at these higer strikes, buying puts is costly, while selling calls gives u less returns.....so covered call positions not so profitable) : the above paragraph is just an analysis of the above charts implications.

TXU FinalPos. P/L
42.75 0 0.4
43.75 0 0.4
44.75 0 0.4
45 0 0.4
45.25 -0.25 0.15
45.5 -0.5 -0.1
45.75 -0.75 -0.35
46 -1 -0.6
46.25 -1.25 -0.85
46.5 -1.5 -1.1
46.75 -1.75 -1.35
47 -2 -1.6
47.25 -2.25 -1.85
47.5 -2.5 -2.1
47.75 -2.25 -1.85
48 -2 -1.6
48.25 -1.75 -1.35
48.5 -1.5 -1.1
48.75 -1.25 -0.85
49 -1 -0.6
49.25 -0.75 -0.35
49.5 -0.5 -0.1
49.75 -0.25 0.15
50 0 0.4
50.25 0 0.4
50.5 0 0.4
50.75 0 0.4
51 0 0.4
51.25 0 0.4
51.5 0 0.4

While the above would be the different Profit or loss situations, if the price of TXU ends up in one of the prices indicated under heading TXU. Below table gives profit/Loss position as of today
here 1., 2. 3. indicate the 3 trades in the previous post

S 1. 2*2. 3 Position P/L
42.75 $0.7692 $0.4844 $0.0526 $0.0625
43.75 $1.1336 $0.8124 $0.1037 -$0.0249
44.75 $1.5946 $1.2845 $0.1900 -$0.1000
45 $1.7250 $1.4281 $0.2187 -$0.1156
45.25 $1.8615 $1.5828 $0.2508 -$0.1295
45.5 $2.0039 $1.7486 $0.2864 -$0.1417
45.75 $2.1522 $1.9259 $0.3258 -$0.1521
46 $2.3062 $2.1149 $0.3693 -$0.1606
46.25 $2.4658 $2.3157 $0.4171 -$0.1672
46.5 $2.6309 $2.5286 $0.4693 -$0.1717
46.75 $2.8013 $2.7534 $0.5263 -$0.1742
47 $2.9768 $2.9903 $0.5882 -$0.1746
47.25 $3.1573 $3.2393 $0.6551 -$0.1731
47.5 $3.3425 $3.5003 $0.7274 -$0.1696
47.75 $3.5322 $3.7731 $0.8051 -$0.1642
48 $3.7264 $4.0577 $0.8883 -$0.1570
48.25 $3.9246 $4.3539 $0.9773 -$0.1480
48.5 $4.1269 $4.6614 $1.0721 -$0.1375
48.75 $4.3328 $4.9800 $1.1727 -$0.1255
49 $4.5423 $5.3095 $1.2793 -$0.1121
49.25 $4.7551 $5.6494 $1.3919 -$0.0975
49.5 $4.9710 $5.9995 $1.5104 -$0.0819
49.75 $5.1898 $6.3595 $1.6350 -$0.0653
50 $5.4114 $6.7289 $1.7655 -$0.0480
50.25 $5.6355 $7.1073 $1.9019 -$0.0300
50.5 $5.8619 $7.4945 $2.0441 -$0.0116
50.75 $6.0906 $7.8899 $2.1921 $0.0072