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Refer to Figure15.1, which lists the prices of various IBM options. Use the data in the figure to calculate the payoff and the profits for

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Refer to Figure15.1, which lists the prices of various IBM options. Use the data in the figure to calculate the payoff and the profits for investments in each of the following July expiration options, assuming that the stock price on the expiration date is $95.(Assume you are buying only 1 option, not a contract for 100 . Round your answers to 2 decimal places. Loss amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required.) FIGURE 15.1 Options on IBM, February 6, 2009 Source: The Wall Street Journal Online, February 7,2009 Reprinted by pemission of The Wall Street Joumal, Copyright 2009 Dow Jones \& Company, Inc. All Rights Reserved Worldwide

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