Suppose that a March call option on a stock with a strike price of $47 costs $3 and is held until March. The holder of the option will gain if the price of the stock is above $ of money.). in March (This ignores the time value An investor writes a December put option with a strike price of $47. The price of the option is $4. The investor makes a gain if the price of the stock is above $ of money). at the time of exercise. (This ignores the time value