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Puts Vol. Last Close Hendreeks 103 103 103 103 Calls Strike Price Expiration Vol. Last 100 Feb 72 5.20 100 Mar 8.40 100 16 10.68

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Puts Vol. Last Close Hendreeks 103 103 103 103 Calls Strike Price Expiration Vol. Last 100 Feb 72 5.20 100 Mar 8.40 100 16 10.68 100 Jul 8 14.30 Apr 50 29 10 2 2.40 4.90 6.60 10.10 Suppose you buy 40 July 100 put option contracts. What is your maximum gain? On the expiration date, Hendreeks is selling for $86.40 per share. How much is your options investment worth? What is your net gain? (Do not round intermediate calculations.) Maximum gain Terminal value Negain

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