Suppose you buy three June Philadelphia Stock Exchange $($PHLX$)$ call options with a $90$

strike price at a price of $2\mathrm{.}3(/),$ and each call option is for $62,500.$

$($a$)$ What would be your total dollar cost for these calls, ignoring broker fees?

$($b$)$ After holding these calls for $60$ days, you sell them for $3\mathrm{.}8(/).$ What is your net profit

on the contracts assuming that brokerage fees on both entry and exit were $$5$ per contract and

that your opportunity cost was $8\%$ per annum on the money tied up in the premium?