Short stock

advancedvery high risk

Borrow and sell shares you don't own. Profit if stock falls — unlimited loss if it rises.

Payoff workbench

Short stock on SPY at $652.40

Contracts1

Drag anywhere on the chart to test a price at expiryP/L at expiry · 1 contract (100 sh)

▼ −$3,934

at a lossconsider adjusting

Loss zone — P&L −$8,155 at mid-range.

The position is losing money at this price. Evaluate whether to hold, adjust, or close to prevent further losses.

Position size

$65,240

100 shares at market

Your P/L at $692

−$3,934

at the dragged expiry price

Break-even

$652.4

Max loss

Unlimited

Modelled estimate: premiums are approximations from delayed quotes. Confirm at your broker.

How it’s built

The legs: toggle them to see why each one matters

Short 100 shares

Borrow & sell at $652.4

Result

Short stock

HIGH RISK

Profits as stock falls. Theoretically unlimited loss if the stock rises.

Pairs well with

Long putOpen →

Buy a put. Defined risk, large profit if the stock falls below your strike.

Naked callOpen →

Sell a call without owning the shares. Theoretically unlimited loss if the stock rips.

Covered putOpen →

Short shares and sell a put below market. Bullish exit floor — bearish overall.

Unfamiliar term? The glossary defines it in a sentence, and the plain-English guides cover the ideas in longer form.

Educational only, not financial advice. Quotes delayed at least 15 minutes. Premiums, deltas and probabilities are modelled estimates, not live market quotes. Confirm at your broker. Denaras never places trades.