Stock Market Options Trading Question:

Stock A has a current price of $45.60 and is supposed to go up in the near future. Jimmy has 3 contracts x 100 shares for an October 16 $50 call with a premium of $3.70 for an initial invesment of $1,110. If the price rises up to $57.70 and Jimmy sells, what is the total profit that Jimmy made from the option trade? What dollar amount will Jimmy have as an end investment? Show your steps.

$45.60 Buv $50 Call 10/16 Contracts x100 shares Limit Price Bid $3.20 - Ask $4.20 V $3.70 Max Cost $1,110.00 Review Buy Call OCT 16 MAY 15 JUN 19 JUL 17 JAN 15, 2021 JAN 21, 2027 Buy Sell Call Put $57.5 Call $1.50 -23.08% TODAY BREAK EVEN $59.00 TO BREAK EVEN % +29.39% $55 Call $2.28 -13.31% TODAY BREAK EVEN $57.28 TO BREAK EVEN % +25.61% $2.63 $52.5 Call BREAK EVEN TO BREAK EVEN % $55.13 +20.90% -25.92% TODAY $50 Call $3.70 -21.28% TODAY BREAK EVEN $53.70 TO BREAK EVEN % +17.76% $47.5 Call $4.30 BREAK EVEN 051 on -25.86% TODAY TO BREAK EVEN % 112 40% SHARE PRICE: $45.60