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7. (Ch 11) As I said in class, I writes covered calls for NIO all the time. At the close of Friday (Nov 13th), NIO

7. (Ch 11) As I said in class, I writes covered calls for NIO all the time. At the close of Friday (Nov 13th), NIO is trading at $44 and the $44 (strike price) call option that expires on Nov 20th is selling at $5.15. Suppose I want to set a covered call using the call option above what should I do? If stock price by the end of Nov 20th is $45, then how much money I am making? (3 pts)

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