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For Questions 15-16, use the following information (keep in mind that one option contract represents 100 shares): On December 3, 2021 you have $22,000 in

For Questions 15-16, use the following information (keep in mind that one option contract represents 100 shares): On December 3, 2021 you have $22,000 in cash sitting in your brokerage account. Later that day, you buy 100 shares of Boeing for a price of $200 per share (total cost $20,000). You use the remaining $2,000 in your account to buy one protective put option contract on Boeing with a strike price of $180, expiring in May 2022, for a premium of $20 per share (the put contract cost you a total of $2,000). At the option expiration, you will close all positions and hold only cash. (Assume no additional transaction costs such as trading fees or bid-ask spread) 15. What is the least amount of cash you could possibly have at the option expiration? A) $2,000 B) $16,000 C) $18,000 D) $20,000 E) $0 16. Suppose Boeings stock price at option expiration equals $200. How much would you have in cash at the option expiration? A) $16,000 B) $18,000 C) $20,000 D) $22,000 E) $24,000

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