**Please answer with full steps, thank you!

Q4 Refer to Figure 24.11 on page 939 of the text to answer this question.

Suppose you had purchased one September 2015 put option contract on light sweet crude oil futures with a strike/exercise price of 5,000 US cents per barrel.

a. How much would your option have cost per barrel of oil (using the Last price)?

b. What would have been the total cost of the one put option contract?

c Suppose the price of oil futures was 5,100 US cents per barrel at expiration of the options contract.

What would have been your net profit or loss from this position (including the cost of the contract)?

d Suppose the price of oil futures was 4,900 US cents per barrel at expiration of the options contract.

What would have been your net profit or loss from this position (including the cost of the contract)?

Cunesday, July 22, 2015 0at Options (Expiring July 2015): Prior Settle Limit Volume High PUTS Low Settle Change Last Price Last Change Settile Low High Volume Prior 16:27.41 CT No Limit 16:27.41 CT o Limt2T 67 64 +03 67 255 1627.41 CT Ni Limit 6 10 30 11'0-1'0 100 a 250 0'1-01 2 01 Limit Updated 01 5 NoLimit 16:27:42 CT 0 No Limit 16:27:42 CT 2015-06-26 0 No Limit 16:27:42 CT 1'0 10 30-210 26013 a -t7 22 13a 10 1'4 b 1'0 a 1'3 -0'3 10 a 0 NoLimit 16:27:42 CT 2015-06-26 0 No Limit 16:27:42 CT 2015-06-26 04 0'1a 0'5 -04 0'1 a 270 2015-06- q'7 Silver Options (Expiring September 2015) PUTS Prior Updated Limit Volume High Low SettleChange Last Price Last Change 02:02 26 CT No Limit 2015-07-22 0.001 18:01:02 CT No Limit 0 2015-07-21 0.001 0415:02 CT No Limit 30 0.001 0.001 0.001 0001 2400 2015-07-22 0.001 18:00:50 CT No Limit 0 2015-07-21 /0.001 18:02:02 CT No Limit 0 2015-07-21 0001 Strike L SettleLow Hilgh Volume LmitUpdated 13.715 13 965 14.215 D No Limit 18:01:25 CT 0.001 2015-07-21 0 No Limit 1802:00 CT 0001 2015-07-21 0 No Limit 18:00:49 CT / 0.001 2015-07-21 0 No Limit 18:01:14 CT 0.001 2015-07-21 0 No Limit 18:01:23 CT 0.001 2015-07-21 14.715 Light Sweet Crude Oil Options-1,000 U.S. barrels, cents per barrel (Expiring September 2015) CALLS PUTS Prior Strike Update Limit Volume High Low Settle Change Last Price Last Change Settle Low High VolumeLimit Updated 09:33:20 CT No Limit 34 2.11 176 2.280.43 1.85b 5000 187 a 045 142 1.65 2 1,149 No Limit 04:33.20 CT 2015-07-22 /0.01 04:33:23 CT No Limit 187 185 154 149 -039 1.6 5050 2.12 a 0.49 163 186 225b 80 No Limit 09.33.20 CT 2015-07-22 /001 09:33:20 CT No Limit 384 151 1.32 173 -0.33 14 5100 2.40 a 053 187 2.11 254b 185 No Limit 0:33:20 CT 2015-07-22 /0.01 001 2015-07-22 001 2015-07-22 0.01 2015-07-22 1 1.18b 5150 2.70 a 0.57 213 2.5 284b 18 No Limit 04 33.20 CT 0.01 2015-07-22 09:33 20 CT No Limit 144 125 114 149 -0.31 2015-07-22 /0.01 09:33:20 CT No Limit 570 11 0.94 1.28 -027 101 2015-07-22 10.01 b 5200 304 a 0.62 242 282 i8b 5 No Limit 09:3320CT 0.01 2015-07-22 CAD/USD Options (Expiring August 2015) PUTS Prior Lo Last Price Last ChangeSettle LowHigh Volume Limit Updated Updated Limit Volume High Low Settle 2015-07-22 0.00005 2015-07-22 0.00005 15 CT No Limit 0 00132 b 00090 a 00127 -00036 0.001 b 7600 00028 a 0.0013 0.0015 0,002 00029 0.00005 2015-07-22 Limit/ 09:30:01 CT 6:45 CT No Limit/3 00046 b 00058 0009 -0003 00060 a 7650 00048 b 0002 00028 00035 00048 83 N No Linsit / 72 00063 b 0,0037 a 00059-0.0021 00038 b 770 00075 b 00028 00047 00052 00076 b No Limit/ 870 00041 b 0.0022 00036 -0.0014 0.002 7750 00110 a 00036 00074 0.0070 a 00111 b 0.00005 2015-07-22 8 No Limit / 09 31.26 CT 0.00005 2015-07-22 04 30 00 CT No Limit/ 0.00005 2015-07-22 0402:47 CT No Limit/ 2015-07-22 0.00005 46 00024 b 00012 a 00021 -00009 00012 a 7800 00147 b 00038 00109 00103 00347b 0 No mit / 09:04.39 CT 0.00005 2015-07-22