Strike		Calls			Puts
Close	Price	Expiration	Vol.	Last		Vol.	Last
Hendreeks
103	100	Feb	72	5.20		50	2.40
103	100	Mar	41	8.40		29	4.90
103	100	Apr	16	10.68		10	6.60
103	100	Jul	8	14.30		2	10.10

a. Suppose you write 50 of the Feb 100 put contracts. What is your net gain or loss if Hendreeks is selling for $98.00 at expiration? For $114?

$98 at expiration

$114 at expiration