1.Assume that a call option has an exercise price of $1.50/. At a spot price of $1.45/

2.Jack Hemmings bought a 3-month British pound futures contract for $1.4400/ only to see the dollar appreciate to a value of $1.4250 at which time he sold the pound futures. If each pound futures contract is for an amount of 62,500, how much money did Jack gain or lose from his speculation with pound futures?

3.Assume that a call option has an exercise price of $1.50/. At a spot price of $1.45/, the call option has