QUESTION 15 Stone entered into a "forward contract to sell 100 shares of MMN stock at a price of 59 per share in exactly 9 months. Now, the nine-month period has expired. MMN stock is trading at $12 per share. What are the economic consequences for Stone? a. He has lost $900. b. He has gained $1,200. c. He has lost $300. d. He has gained $300. QUESTION 16 Harris buys 20 call options on XYZ March 60 for $5 when the price of XYZ is 61. XYZ falls to $40 and remains there through March. What is Harris's gain or loss? a. Gain 30,000 b. Gain 29,000 c. Loss 9,000 d. Loss 10,000