Assume that the current stock price is 30 , the stock pays dividend continuously at a rate proportional to its price with yield 4% , and the volatility of stock is 18% . Suppose a one-year, 32-strike European call option and put option have prices 1.8779 and 2.3000 . Jack sold 25 units of this cal option at time 0 and immediately used the delta hedge. After 3 months, the stock price becomes 35 and the call option price becomes 4.6345 . Calculate the three month profit or loss of his portfolio. Note that he invests or pays the stock dividends by buying or selling extra shares.