Johnny buys 100 shares of ABC stock for $70 per shares on 2/1/2008.He then borrows 100 shares of ABC stock from his broker and sells the stock for $90 per share on 3/1/2008.On 3/18/2008, Johnny buys 100 shares of ABC stock at $75 per share.He pays $7,500 for the stock and returns the stock to the broker. The short sale is closed.

How much did Johnny make from this transaction and when does the holding period of the original shares of ABC stock begin to run?

a.$1,500, 3/18/08

b.$1,500, 3/1/08

c.$500, 3/18/08

d.$1,500, 2/1/08

Can you please explain. Thank you