An investor purchased 50 shares for $38.20 per share. Call options trade over the shares with each call option covering 50 shares. The investor writes (sells) a call option over the shares for a $35 premium. That is, the premium received is $35 in total (a call option over one share is worth $0.70). On expiry the option is exercised, and the investor receives the strike price of $43.40 per share. What is the total net profit from the strategy? Select one: $35 $295 $225 $260

An investor purchased 50 shares for $38.20 per share. Call options trade over the shares with each call option covering 50 shares. The investor writes (sells) a call option over the shares for a $35 premium. That is, the premium received is $35 in total (a call option over one share is worth $0.70). On expiry the option is exercised, and the investor receives the strike price of $43.40 per share. What is the total net profit from the strategy? Select one: O $35 O $295 O $225 O $260