You purchased five WXO 30 call option contracts at a quoted price of $0.34. What is your total profit on this investment if the price of WXO is $33.60 on the option expiration date? A. $1,440 B. -$170 C. $1,630 D. $326 E. $1,576
Added by David C.
Step 1
Each contract represents 100 shares, and you purchased five contracts at a quoted price of $0.34 per share. \[ \text{Total cost} = 5 \text{ contracts} \times 100 \text{ shares/contract} \times \$0.34/\text{share} \] \[ \text{Total cost} = 5 \times 100 \times Show more…
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