On February 10, 2017, Gene purchases 25 calls on Yelow Corporation for $300 per call. Each call represents an option to buy 100 shares of Yellow stock at $40 per share any time before November 25, 2017 Read the recuirement Ston Amount of gain (oss) Type of gain (loss) Requirement b. Compute the gain or loss recognized, and determine whether the gain or loss is ong-term or shori-term for Gene in the following situations a. The 25 cals are sold on May 15, 2017, for $350 per call. b. The cals are not exercised c. The cal s are exercised on July 15, 2017, and the 2,500 shares of Yellow C. but allowed to expire Corporation stock are sold on July 20, 2018, for $51 per share. Print Done