# III. Calculation of option's profit and loss

OKX

1. Single-currency margin: cross margin

In single-currency margin mode: cross margin, the system only allows users to open short positions of options. To open long positions under single-currency margin mode, please choose isolated margin and refer to 3. Single/Multi-currency/Portfolio margin: Isolated Margin in this article
The options positions are shown in the following:
 Term Definition Total The total of long positions is a positive number, and the total of short positions is a negative number. Options value Options value = total positions * mark price * contact multiplier * contract value P&L Unrealized profit or loss of current position P&L = (mark price - avg. open price) * total positions * contract multiplier * contract value P&L ratio P&L of long positions = (mark price – avg. open price) / avg. open price P&L of short positions = (avg. open price - mark price) / avg. open price Initial margin The initial margin for long positions is 0. As to initial margin of short positions, please refer to Introduction to the calculation of options margin. Maintenance margin The maintenance margin for long positions is 0. As to maintenance margin of short positions, please refer to Introduction to the calculation of options margin.

2. Multi-currency margin mode: cross margin

Under the multi-currency margin mode: cross margin, the system only allows users to open short positions of options. To open long positions under multi-currency margin mode, please choose isolated margin and refer to 3. Single/Multi-currency/Portfolio margin: Isolated Margin in this article
The options positions are shown in the following:
 Term Definition Total The total of long positions is a positive number, and the total of short positions is a negative number. Options value Options value = total positions * mark price * contact multiplier * contract value P&L Unrealized profit or loss of current position P&L = (mark price - avg. open price) * total positions * contract multiplier * contract value P&L ratio P&L of long positions = (mark price – avg. open price) / avg. open price P&L of short positions = (avg. open price - mark price) / avg. open price Initial margin The initial margin for long positions is 0. As to initial margin of short positions, please refer to Introduction to the calculation of options margin. Maintenance margin The maintenance margin for long positions is 0. As to maintenance margin of short positions, please refer to Introduction to the calculation of options margin.

3. The isolated mode f Single/multi-currency/Portfolio margin

In isolated margin mode, the system allows users to open both long and short options positions. The isolated options positions are shown as follows:
 Term Definition Total The total of long positions is a positive number, and the total of short positions is a negative number. Options value Options value = total positions * mark price * contact multiplier * contract value P&L Unrealized profit or loss of current position P&L = (mark price - avg. open price) * total positions * contract multiplier * contract value P&L ratio P&L of long positions = (mark price – avg. open price) / avg. open price P&L of short positions = (avg. open price - mark price) / avg. open price Initial margin The initial margin for long positions is 0. As to initial margin of short positions, please refer to Introduction to the calculation of options margin. Maintenance margin The maintenance margin for long positions is 0. As to maintenance margin of short positions, please refer to Introduction to the calculation of options margin. Margin (Balance) Initial margin + manually added or removed margin Margin Ratio Margin balance / (maintenance margin + liquidation fee)