### Comment:
See the $0.51?  That’s how much he paid per share.  Option contracts are sold in bundles of 100, so for each contract he actually paid $51.0 
  
 He will be profitable at expiration if the underlying is below $13.49.   
  
 There’s also implied volatility, which adds value to the position depending on the time remaining till expiration, and how volatile the underlying has been recently.  


### REPLY:
so do you always subtract the per contract price from the strike price to figure out where profits start?

### END.