6. Suppose you buy three June euro call options with a 90 strike price at a price of 2.3 (¢/€).

(a) What would be your total U.S. dollar cost for these calls, ignoring broker fees?

(b) After holding these calls for 60 days, you sell them for 3.8 (¢ / €). What is your net profit on the contracts, assuming that brokerage fees on both entry and exit were

$5 per contract and that your opportunity cost was 8%

per year on the money tied up in the premium?