Calls Strike Price Expiration Vol. Last Puts Vol. Last Close Hendreeks 103 103 72 100 100 100 100 103 Feb Mar Apr Jul 41 16 8 5.20 8.40 10.68 14.30 50 29 10 2 2.40 4.90 6.60 19.10 103 Suppose you buy 45 April 100 put option contracts. What is your maximum gain? On the expiration date, Hendreeks is selling for $85.80 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