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Calls Puts Vol. Last Close Strike Price Expiration Vol. Last Hendreeks 103 100 Feb 72 5.20 50 2.40 103 100 Mar 41 8.40 29 4.90

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Calls Puts Vol. Last Close Strike Price Expiration Vol. Last Hendreeks 103 100 Feb 72 5.20 50 2.40 103 100 Mar 41 8.40 29 4.90 103 100 Apr 16 10.68 10 6.60 103 100 Jul 8 14.30 2 10.10 Suppose you buy 40 April 100 put option contracts. What is your maximum gain? On the expiration date, Hendreeks is selling for $85.65 per share. How much is your options investment worth? What is your net gain? (Do not round intermediate calculations.) Maximum gain Terminal value Net gain 1

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