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EBOOK Use a minus Mike Suerth sold a call option on Canadian dollars for $0.01 per unit. The strike price was $0.76, and the
EBOOK Use a minus Mike Suerth sold a call option on Canadian dollars for $0.01 per unit. The strike price was $0.76, and the spot rate at the time the option was exercised was $0.85. Assume Mike did not obtain Canadian dollars until the option was exercised. Also assume that there are 54,900 units in a Canadian dollar option. What was Mike's net profit on the call option? sign to enter loss values, if any. Round your answer to the nearest dollar. $ -41175
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