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Read which price is supplied
A scenario S = 110 at expiry with call strike 100 gives payoff 10. A current underlying price of 110 at an earlier date is another input. Substituting it into max(S−K,0) gives an intrinsic amount, not automatically the complete current option value.
Keep the future contract unresolved
Before expiry, the final underlying price and any relevant exercise opportunity remain unresolved. A valuation model needs more than today’s intrinsic difference. This page does not infer volatility, discounting or a market premium from the expiry calculator.
Identify the intended output
| Input | Output question |
|---|---|
| Terminal underlying price | What settles at expiry? |
| Current underlying price | What is intrinsic now? |
| Current contract and pricing inputs | What is the pre-expiry option worth? |
Avoid reading a payoff curve as a price forecast
The curve varies hypothetical terminal prices while holding the premium fixed. It is a scenario map, not a forecast of the underlying or an option-price model through time. Keep that axis meaning visible.