Refer to Table 2.7 and look at the IBM options. Suppose you buy a July 2016 expiration call option with exercise price $150. a-1. Suppose the stock price in July is $153.40. Will you exercise your call?(factor in overall profit/loss after the decision to exercise) O Yes O No a-2. What is the profit (loss) on your position?(factor in overall profit/loss after the decision to exercise) (Enter your answer as a positive value rounded to 2 decimal places.) b-1. If you had bought the July call with exercise price $145, will you exercise your call? Yes O No b 2. What is the profit (loss) on your position? (Enter your answer as a positive value rounded to 2 decimal places.) c-1. If you had bought the July put with exercise price $155, will you exercise your put?(factor in overall profit/loss after the decision to exercise) O Yes O No c-2. What is the profit (loss) on your position? (factor in overall profit/loss after the decision to exercise)(Enter your answer as a positive value rounded to 2 decimal places.) Expiration Strike Call Put Table 2.7 Prices of stock options on IBM May 10, 2016 June June June July July July 145 150 155 145 150 155 6.60 331 1.27 7.73 4.43 2.28 1.57 3.30 6.53 2.58 4.42 7.30 Note: IBM stock on this day was $149.97 Source: Compiled from data downloaded from Yahool Finance, May 10, 2016