Suppose you purchase 15 call contracts on Scholes Co. stock. The strike price is ($220,) and the
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Suppose you purchase 15 call contracts on Scholes Co. stock. The strike price is \($220,\) and the premium is \($10.\) If the stock is selling for \($240\) per share at expiration, what are your call options worth? What is your net profit? What if the stock were selling for \($230?\) \($220\)?
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