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8. Use these option quotes to answer the following question: MPC: Current Price 42.61 Expire at close 3d Friday, November, 2020 Bid Ask Last 5.60

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8. Use these option quotes to answer the following question: MPC: Current Price 42.61 Expire at close 3d Friday, November, 2020 Bid Ask Last 5.60 Chg 0.00 4.70 Call Options Strike Symbol 42.50 MPC121020C00042500 45.00 MPC121020C00045000 47.50 MPC121020C00047500 50.00 MPC120020000050000 52.50 MPC121020000052500 5.00 3.80 Vol Open Int 1 1 4 164 3.73 30.23 3.60 2.65 47 42 0.00 2.90 3.40 2.04 16 1.95 20 2.15 10.16 30.09 307 1.60 1 1.40 1.60 Last Put Options Strike Symbol 27.50 MPC121020P00027500 30.00 MPC121020P00030000 32.50 MPCI21020P00032500 35.00 MPC21020P00035000 40.00 MPC121020P00040000 45.00 MPC121020P00045000 Chg 0.00 0.00 0.70 1.00 1.65 Expire at close 39 Friday, November, 2020 Bid Ask Vol Open Int 0.70 0.85 10 10 1.OS 1.20 10 30 1.50 1.65 10 10 2.05 2.25 10 51 3.80 4.00 10 10 6.30 6.60 6 3 2.16 0.00 10.20 0.00 3.60 6.40 0.00 You would like to have the right to purchase 100 shares of MPC stock at a price of $45.00 a share during first half of November of 2020. How much will it cost you to buy options to meet this objective? A. $3.60 B. $3.80 C. $6.30 D. $6.60 E. $360 F. $380 G. $630 H. $660

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