Original Price AAPL: $520

Due Monday 11/20/2017 Finance 421 (Towner) Homework 6 share price decreases by 10% between now and December 21st. (c) Assuming AAPL's compute the payoff, profit, and return for each of the following positions (i) A long position in 100 call options, bought at $26.50 per call. (ii) A long position in 100 put options, bought at $13.30 per put. As a reminder, the payoff from an options position is the value of the option at expiration ignoring the premium paid), the profit is the payoff minus the premium, and the return equals the profit divided by the initial premium. Payoff Profit Return Position Long 100 call options Long 100 put options