Question 9 You wrote 10 call options with a strike price of $75 and a premium $3.85. Calculate your gain/ loss if the stock price at expiration is either $82 or $72? A. For stock price $82, loss=$3150 and for stock profit $72, dollar return is -$3150 B. For stock price $82, profit=$3850 and for stock profit $72, dollar return is 0 C. For stock price $82, profit=$3150 and for stock profit $72, dollar return is -$3850 D. For stock price $82, Loss=$3150 and for stock profit $72, dollar return is $ 3850 Question

10 You were expecting the market to correct for the last couple of months and see that it is happening over the last few weeks. You are expecting to receive $20,000 from an external source that you are planning to buy the SPDR ETF next month but would not want to miss out on the current price levels (in case the S&P 500 levels go up). Explain how you will lock in the current levels using options. Use todays price on the SPY and give an estimate of the cost to do so?

Question 11 The Venezuela fund has $560 million in assets and sells at a premium of 2.07% to NAV. If the quoted price of this closed-end fund is $14.29, how many shares are outstanding if you purchased 1000 shares? A. Wrong information closed-end funds only sell at discounts B. 40 million C. 42.5 million D. 36.5 million