I think I’m doing something wrong-help me calculate the options

I’m learning about options (from the ASX course), understand the basics, and would be interested in buying options with the XJO Index.

As a test calculation, I would like to model the economic impact of hedging XJO in both directions-for both down and up. But the profit numbers are too high to be true-can anyone help me understand what I’m doing wrong?

Call / Put from Commsec-Used offer value for calculation

Example 1-XJO rises 1%, investing \$ 500 = profit of \$ 11,834.

 motion cost date call 6700 1.01 January 21 Put 6700 1.3 1.3 January 21 Current price \$ 6,683.00 Move 1% Price post movement 6749.83 Purchase price \$ 500.00 result 50% split bought Value per option Value tot call 247.5248 49.83 \$ 12,334 Put 192.3077 -49.83 \$- total \$ 12,334 End position \$ 11,834

Example 2 -XJO is down 1%, with an investment of \$ 500 = a profit of \$ 17,111.

 motion cost date call 6700 1.01 January 21 Put 6700 1.3 1.3 January 21 Current price \$ 6,683.00 Move -1% Price post movement 6616.17 Purchase price \$ 500.00 result 50% split bought Value per option Value tot call 247.5248 -83.83 \$- Put 192.3077 83.83 \$ 16,121 total \$ 16,121 End position \$ 15,621

help? !!

I think I’m doing something wrong-help me calculate the options

https://www.aussiestockforums.com/threads/i-think-im-doing-something-wrong-help-with-options-calculation.35964/ I think I’m doing something wrong-help me calculate the options