Assume it is $\frac{7}{31}\frac{?}{19}$ and Macy's $(M)$ currently trades at $$22\mathrm{.}68$ per share. Use the data below for

options expiring in January $2020$ on Macy's to answer questions $4-6.$ In answering the questions, if you

need to buy an option assume you need to pay the relevant ask price, and if you need to sell an option

assume you receive the relevant bid price$\mathrm{.}4.$ A former employee of Macy$$s owns considerable stock in the company, but is reluctant to sell because of loyalty to her previous employer. That said, she is a little worried that the rest of the year could be rough for the company. She is considering the three courses of action listed below. Calculate her per share profit or loss under each course of action for two different scenarios $($i$.$e$.$ you should have six answers$)$:

$1)$ Macy$$s trades at $$15$ per share at expiration or $2)$ Macy$$s trades at $$30$ per share at expiration. If you were her, which course of action would you choose and why?

a$.$ Do nothing, just continue owning the stock

b$.$ Purchase a $$19$ put

c$.$ Write a covered call at a $$24$ strike price