is the estimated value of the 29. What is the exercise value of a call option that has a strike price of $40 and the price of the underlying stock is $35 on the expiration date of the option? 30. What is the exercise value of a put option that has a strike price of $50 and the price of the underlying stock is $30 on the expiration date of the option? 31. What securities would you need to buy and sell in order to create a covered calI? 32. What does a protective put strategy protect against? 33. If you created a straddle with the following attributes, what is the value of your portfolio on the expiration date? What is your profit? Strike Price of the Call Option = $60 Strike Price of the Put Option=$60 Call Premium=$11.50 Put Premium=$5.80 Stock Price on the expiration date=$86