Long option holders decide if/when to exercise an option. A long call option gives the owner the right to buy shares of the underlying at the strike price. As a result, he wants the price of the underlying to increase in value over and above the strike price. For example, a 100 strike call in NFLX has value to the long holder only when NFLX trades over $100. If NFLX were trading for $120, then the long call holder could exercise the call option and buy shares for $100 per share. The most a long call option can profit is unlimited, as there is no limit to how high a stock can move. The most a long call option can lose is simply the premium that is paid. The break even point is the strike price + the premium paid.
A long put option gives the owner the right to sell shares of the underlying at the strike price. As a result, he wants the price of the underlying to decrease in value below the strike price. For example, a 60 strike put in SBUX has value to the long holder only when SBUX falls below $60. If SBUX were trading for $30, then the long put holder could buy the shares in the open market for $30, turn around and exercise the put option to sell the shares for $60, and profit $30 per share. The The most a long put option can profit is pretty much unlimited (if the stock were to fall to 0), and the most a long put option can lose is again only the premium that is paid. The break even point is the strike price - the premium paid.
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