Calculator: Vanilla Option - SITMODescription The plain vanilla option is the most traded option. There are two types of vanilla options, a call option and a put option. The call options give the owner the right to buy the underlying S for a fixed price K (the strike) at expiration. The value of the option is thus S-K when the stock is above the strike, and 0 otherwise. The put options give the owner the right to sellthe underly
