1. What is the profit or loss if you bought an IPC call with a strike price of 30,000, paid a premium of 500 points and the IPC at expiration closed at 29,000? A) 500 B)-500 C)-1500 

2. What is the profit or loss if you bought an IPC put with a strike price of 30,000, paid a premium of 300 points and the IPC at expiration closed at 29,000? A)700 B)-700 C)1000