Question $24(5$ points$)$

John Deere is currently trading at $$28\mathrm{.}50.$ A May call on Deere is trading at $$32\mathrm{.}50$ with a premium of $$1.$ A trader buys $100$ shares of Deere at $$28\mathrm{.}50$ and sells a May call at $$32\mathrm{.}50.$ What type of strategy is this?

Question $24$ options:

Writing a covered call

Hedge wrapper

Protective put

Put overwrite

Question $25(5$ points$)$

If Deere closes at $$35$ a share, what would the total payoff be on the May call?

Question $25$ options:

$-$$$250$

$$100$

$$250$

$-$$$150$