At expiry, a holder of a call option with an exercise price of $32 (purchased for a premium of $0.85) over Wesfarmers shares (now trading at $33.65) will:

Select one:

not exercise with a loss of $1.65 per share

exercise with a profit of $1.65 per share

exercise with a profit of $0.80 per share

not exercise with a loss of $0.85 per share

exercise with a profit of $0.85 per share