Explain how to solve

$1$ point

Siley Mirus buys $5$ call option contracts, where the contract size is $100$ IBM stocks, with a strike price of $$300$ at a quoted price of $$6\mathrm{.}00.$ At option expiration, these stock sell for $$360.$ What is the net profit on the transaction?

$$27,000$ Loss

$$27,000$ Gain

$$5,400$ Gain

$$270$ Gain