You notice that shares of stock in the Patel Corporation are going for $50 per share. Call options with an exercise price of $35 per share are selling for $10. What's wrong here? Describe how would you could take advantage of this mispricing if the option expires today.

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Use the following options quotations to answer questions 18 through 21: Option& NY Close Strike Price Expiration Calls Puts Vol. Last Vol. Last Milson 59 59 59 59 5555 55 Mar 98 3 1/2 66 1 1/16 55 Apr 54 6 1/4 40 1 15/16 55 Jul 25 8 5/8 17 3 5/8 55 Oct 10 10 1/4 5 31/4