1. If you presently were to buy an option to sell 500 shares of XOM at $50 between now and January (3^rd Friday) of 2022, and paid the current bid price of $2, explain/compute the following:
2. 1. What the contract represents when relating the stocks market price and strike price?
   2. What are your future rights or obligations between now and expiration?
   3. How to approach calculating a maximum gain/loss and break-even stock price?

ID Ameritrade Meet thinkorswim Web Sign up now. EXTRADE Online Equity chal Trade Commissions' HIWAL EXPORT 1 Exxon Mobil Corp XOM:NYSE WATCHLIST + RT Quote Last NYSE Arca, VOL From CTA USD After Hours: Last 17:32 PM EDT Volume 57.05 -0.03 (-0.05%) 1,516,050 Close Volume 52 week range 57.08 A +1.87 (+3.39%) 21,485,874 31.11 - 64.92 1D 5D 1M 3M 6M YTD 14 5Y ALL Date/Time: 2021-09-23 13:22:00 Close: 57,0700 Open: 57.0700 High: 57.0974 Low: 57.0500 Volume: 29216 + Comparison Display Studies O a Plots 58.5103 1. Tuuu 57.0000 56.5000 56.0000 55.5000 10:00 11:00 12:00 13:00 09/23 13:22 14:00 15:00 16:00