23. 24MMMMMMMMUse these option quotes to answer this question:

ZZ Industries: Price 34.36

Calls:

Strike

Symbol

Last

Chg

Bid

Ask

Vol

Open Int

30.00

ZZBF

4.30

.07

4.30

4.40

62

3,429

32.50

ZZBZ

1.87

.07

1.82

1.87

236

8,168

35.00

ZZBG

.01

.05

.00

.01

3119

38,017

Puts:

Strike

Symbol

Last

Chg

Bid

Ask

Vol

Open Int

30.00

ZZNF

.01

.00

.00

.01

0

7,258

32.50

ZZNZ

.01

.02

.00

.01

562

34,972

35.00

ZZNG

.60

.14

.63

.68

2637

19,686

You would like to have the right to purchase 250 shares of ZZ Industries stock at a price of $32.50 a share. How much will it cost you to buy options to meet this objective?

Top of Form

Multiple Choice

$103.11

$12.90

$374.00

$467.50

$561.00