Several months ago, an investor sold one-year European call option on a nondividend- paying stock. She immediately delta-hedged the commitment with shares of the stock, but has not ever re-balanced her portfolio. She now decides to close out all positions. (Assume options on a 100 shares of stock)

You are given the following information:

(i) The risk-free interest rate is constant.

	Several Months Ago	Now
Stock Price	$40	$50
Call Option Price	$8.88	$14.42
Put Option Price	$1.63	$0.26
Call Option Delta	0.794

The put option in the table above is a European option on the same stock and with the same strike price and expiration date as the call option. Please calculate her profit.