Suppose you buy 50 February 100 put option contracts.

1. What is your maximum gain?

On the expiration date, Hendreeks is selling for $87.45 per share. How much is your options investment worth? What is your net gain?

2. Suppose you buy one SPX call option contract with a strike of 1,300. At maturity, the S&P 500 Index is at 1,321 What is your net gain or loss if the premium you paid was $14?

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