3. Stock transactions: Short selling Suppose Viahaus's stock is currently trading at $50 per share, but Antonio analyzed the company's financial reports and believes that the stock is overpriced. In response to this, he calls his broker to take a short position on 300 shares of Viahaus's stock. The sale of the stock resulted in proceeds of for Antonio. Over the next three months, the price of Viahaus's stock decreased, and Antonio placed an order through his brokerage to purchase 300 shares to offset his short position. If the price decreased to $40, then Antonio paid for the shares. If Viahaus pays a quarterly dividend of $1 per share and the transaction cost charged by the broker is 1 percent of the proceeds on each transaction, Antonio stands to earn from his short position