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A put on IBM stock with a strike price of $40 is priced at $2 per share, while a call with a strike price of

A put on IBM stock with a strike price of $40 is priced at $2 per share, while a call with a strike price of $40 is priced at $3.50. The maximum per-share loss to the writer of an uncovered put is ________, and the maximum per-share gain to the writer of an uncovered call is ________.

$42 (loss); $3.50

$38 (loss); $3.50

None of the options

$33(loss); $41.50

$40 (loss); $36.5

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