Mike believes that XYZ stock will increase in value. He buys 20 XYZ March 60 call options for $4 when the price of XYZ is $61. If XYZ falls to $55 and stays there through March, what will be Mike's gain or loss? Gain $8,000. O Loss $8,000. Loss $5,500. O Gain $122,000.

Nike believen that XYZ stock will increase in value. He buys 20 XYZ March 60 call options for $4 when the price of XYZZ is 561 . If XYZ falls Gain $8,000 tors $5,000 ton$5.500 Cilit $122,000