I am learning fundamentals of option market and ran into an example I do not understand :
Let's assume I have a portfolio of 3 shares priced \$22, and a European call option to buy a share for \$21 in 3 months. If the stock price turns out to be \$22, the value of the option will be \$1. The text states that the value of my portfolio is $22*3-1 = \$65 $, why isn't is $22*3+1=\$67$ ? Thanks