Assume you are long a call option (i.e. you have bought a call) with a strike price of $38 for a premium of $1.12 per share. (Keep calculations on a per share basis instead of the typical 100 share contract.) 1 a. What is your payoff if the stock price is $30 at expiration? b. What is your payoff if the stock price is $43 at expiration? c. Draw a rough sketch of your net profit at the various ending market prices below. + + + +% 28 30 32 34 36 38 40 42 44 Assume you are long a call option (i.e. you have bought a call) with a strike price of $38 for a premium of $1.12 per share. (Keep calculations on a per share basis instead of the typical 100 share contract.) 1 a. What is your payoff if the stock price is $30 at expiration? b. What is your payoff if the stock price is $43 at expiration? c. Draw a rough sketch of your net profit at the various ending market prices below. + + + +% 28 30 32 34 36 38 40 42 44