Assume you purchased the right to sell 2,400 shares of Target stock in March 2019 at a strike price of $55 per share. Suppose Target stock sells for $53 per share immediately before your options expiration. What is the rate of return on your investment? What is your rate of return if the stock sells for $60 per share? Assume your holding period for this investment is exactly three months. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your 3-month returns as a percent rounded to 2 decimal places.)

Use the following quotes for Target stock options: