1a. You purchase a long call option giving you the right to buy 100 shares of Ames Corp. for a total premium of $1,800. The strike price on the option is $15 and the final stock price is $80. What is your profit or loss?

b. You purchase a long put option giving you the right to sell 100 shares of Brahma Corp. for a premium of $2,200. The strike price of the option is $100 and the final stock price is $10. What is your profit or loss?