How to calculate Extrinsic Value options P/L? All this time I’ve been calculating only intrinsic value gain. [ANTI YOLO FLAIR] via /r/wallstreetbets #stocks #wallstreetbets #investing

So as you can see an OTM call (which intrinsic value is zero) still holds its extrinsic value.

All this time before purchasing options I've been calculating how much I could make or lose taking into acc (STOCK PRICE – PREMIUM). But there's actually other stuff in the mix.How do you guys calculate that.

Edit: Let's say you buy a U$10 OTM call and a couple minutes later it's U$5 OTM. So even tho it's still OTM and the INTRINSIC VALUE = 0 the extrinsic value is now worth a lot more. But how to calculate it?