Refer to the stock options on Apple in the Figure 2.10. Suppose you buy a September expiration call option on 100 shares with exercise price $100.

a-1. If the stock price in September is $102, will you exercise your call?

	Yes
	No

a-2. What is the net profit/loss on your position? (Negative value should be indicated by a minus sign.)

(Click to select)Net Profit/ Net Loss $

a-3. What is the rate of return on your position? (Round your answer to 2 decimal places.)

Rate of return %

b-1. Would you exercise the call if you had bought the September call with the exercise price $95?

	Yes
	No

b-2. What is the net profit/loss on your position? (Input the amount as a positive value.)

(Click to select)Net loss/ Net profit $

b-3. What is the rate of return on your position? (Round your answer to 2 decimal places.)

Rate of return %

c-1. What if you had bought a September put with an exercise price of $100 instead? Would you exercise the put at a stock price of $100?

	Yes
	No

c-2. What is the rate of return on your position? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.)

Rate of return %

Apple (AAPL) Underlying stock price $101.05 Expiration Strike Call Put September 95 6.20 0.21 October 95 6.35 0.33 September 100 2.20 1.18 October 100 2.62 1.55 September 105 0.36 4.35 October 0.66 105 4.75