select a trading strategy that uses November expiration options for the following situations. Describe the cost, risk, and potential profit. Explain why the strategy you have selected is preferable to other approaches. Include a description of the opportunity cost of the selected strategy compared with others. You can choose any trading strategy. Example of strategies are covered calls , protected puts, call spreads, put spreads, butterfly spreads, strips, and straps.

Anodarko has agreed to be acquired by Chevron for a mix of cash and stock worth about $65. The transaction is expected to be completed by the end of the year. you expect Odccidental Corporation to make an all-cash superior offer at $75 per Anadarko share. Sometimes your expectations are wrong. Anadarko is currently trading at $64.18 per share. Anadarko options are priced as shown on the option chain on the prior page.