Problem 7: (Covered Write) Bertha and Bill buy 100 shares of XYZ @ $50. It rises in price and to protect their profit and take in income they hedge their position by selling 1 Call with a strike of $60 for $6 per share quoted price. Find the P&L, Y, at expiration if the stock price is a. $40 b. $60 c. $75 (per share quoted) (per share quoted) (per share quoted)