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Pierre thinks Altec's stock price is going to increase from its current level of $22.50 sometime during the next 6 months. Pierre can buy a
Pierre thinks Altec's stock price is going to increase from its current level of $22.50 sometime during the next 6 months. Pierre can buy a 6-month call option on Altec's stock for a premium of $7.00. The call option has a strike price of $27.00. If Pierre buys this option for $7.00 and Altec's stock price increases to $43 by the time the option expires, what would Pierre's profit be
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