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4. (Ch. 5) Selling Currency Call Options. Juan Solis sold a call option on the New Zealand dollar (NZD) for USD .015 per unit. The

4. (Ch. 5) Selling Currency Call Options. Juan Solis sold a call option on the New

Zealand dollar (NZD) for USD .015 per unit. The strike price for NZD was USD .61

(the exchange rate we use is NZDUSD), and the spot rate at the time the option was

exercised was USD .59. Assume Mr. Solis did not obtain NZD until the option was

exercised. Also, assume that there are 50,000 units in an NZD option. What was Mr. Solis' net profit on the call option? (4 points)

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