A put on XYZ stock with a strike price of $40 is priced at $2.00 per share, while a call with a strike price of $40 is priced at $3.50. What is the maximum per- share loss to the writer of the uncovered put and the maximum per-share gain to the writer of the uncovered call?

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Maximum Loss to Put Writer Maximum Gain to Call Writer $3.50 $36.50 a. $38.00 b. $38.00 C. $40.00 d. $40.00 $3.50 $40,00