1. Titan Boat stock has been very volatile with 52-week high and low stock prices of $57 and $24, respectively. Today's stock price is $43. A call option on Titan Boat stock specifies an exercise price of $55 and the premium is $4. Ryan sells the call option while David buys the call option. Assume the call option will not be exercised until maturity, if at all. Use the following stock prices at expiration to calculate the option's profit/loss per share for both Ryan and David. Be sure to show your calculations. Also, identify if the option on Titan Boat stock is in-the-money (ITM), at- the-money (ATM), out-of-the-money (OTM), or cannot be determined (CBD). Report your answers in the table below. Ryan's Option David's Option Stock ITM, ITM, ATM, ATM, price at Profit/loss per share on the option , , Profit/loss per share on the option , , expiration CBD CBD $24 40 41 42 43 44 45 46 47 57