6. Suppose you buy three June PHLX call options with a 90 strike price at a price of 2.3 (/).

1. What would be your total dollar cost for these calls, ignoring broker fees? The euro option contract size is 62,500.

2. After holding these calls for 60 days, you sell them for 3.8 (/). 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?