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Strike Calls Puts Close Hendreeks Price Expiration Vol. Last Vol. Last 103 100 Feb 72 5.20 50 2.40 103 100 Mar 41 8.40 29

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Strike Calls Puts Close Hendreeks Price Expiration Vol. Last Vol. Last 103 100 Feb 72 5.20 50 2.40 103 100 Mar 41 8.40 29 4.90 103 100 Apri 16 10.68 10 6.60 103 100 Jul 8 14.30 2 10.10 Suppose you buy 45 July 100 put option contracts. What is your maximum gain? On the expiration date, Hendreeks is selling for $86.55 per share. How much is your options investment worth? What is your net gain? (Do not round intermediate calculations.) Maximum gain Terminal value Net gain

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