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Good question! In the academic world (John Hull's book), an "option" has an underlying of 1 single share. An "option contract" has an underlying of 100 shares. I go based off the text for a lot of these videos and just stick to the option with 1 underlying share for simplicity. If you buy an option contract in your brokerage, the profits and losses you saw here would need to be multiplied by 100 as you said, because your underlying would be 100 shares
