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Corn call options with a $1.50 strike price are trading for a $0.2 premium. Farmer Jayne decides to hedge her 20,000 bushels of corn by

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Corn call options with a $1.50 strike price are trading for a $0.2 premium. Farmer Jayne decides to hedge her 20,000 bushels of corn by selling short call options. Six-month effective interest rates are 4.0% and she plans to close her position and sell her corn in 6 months. What is her profit or loss from the options if spot prices are $1.60 per bushel when she closes her position? $1,000 loss $2,000 gain $2,160 loss $2,160 gain

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