Suppose you purchase the June 2014 put option on corn futures with a strike price of $4.95. Assume your purchase was at the last price. Use Table 23.2

How much does your option cost per bushel of corn? (Round your answer to 5 decimal places, e.g., 32.16161.)

Option cost

$ per bushel

What is the total cost for one contract? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Total cost

$

Suppose the price of corn futures is $4.81 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(Click to select)ProfitLoss

$

What is your net profit or loss if corn futures prices are $5.03 per bushel at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(Click to select)ProfitLoss

$

Corn Options Quotes Globex View another product Share 49 Quotes Settlements Volume Time & Sales Contract Specs Margins Calendar TABLE 23.2 Sample CME Group Futures Option Price Quotations SOURCE: Reprinted by permission of the CME Group (www.cmegroup .com), May 9, 2014 All Rights Reserved Worldwide. Globex Futures Open Outcry Futures Globex Options Open Outcry Options Auto Refresh is ON Market data is delayed by at least 10 minutes Underlying Future Charts Prior Settle HILO Limit Last Change High Low Volume Updated Jul 2014 507'4 a 5164 5220 5050 212,480 5424 4724 14 28.52 CT On May 2014 Type: American Options Expiration Jun 2014 Strike Range: At The Money CALLS PUTS Hillo Limit Prior Settle Volume Prior Settie Hi/Lo Limit Updated High LOW Change Last Price Last Change LOW High Volume 1430:00 CT 09 May 2014 No Limt Updated 14.3000 CT 09 May 2014 0 3630 232 a 226 -994 242 a 495.0 140 +02 12 06 a 16 No Limit 18 14:30:00 09 May 2014 No Limit 502 320D 1918 283 -8'2 2013 4900 24b 05 17 10 266 1.5811 No Limit 14:30:00 09 Mar 2014 No 14:30:00 09 May 2014 No Limt 0275 154 a 242 -240 182 a 495.0 35b 07 28 18 a 41 549 14:30 00 09 May 2014 Limit 14:30:00 CT 09 May 2014 No Limit 719 235 130 203 -7'5 120 a 5000 520 37 20 570 1870 No Limit 14:30:00 CT 09 May 2014 14:30:00 CT No Limit 204 1970 92 167 -70 97 505.0 73b +20 53 34 80 1.504 No Limit 09 May 14:30:00 CT 09 May 2014 2014 14:30:00 CT 09 May 2014 No Limit 1,093 164 714 138 -8'2 74 a 5100 1005 26 72 44 1085 1.892 No Limit 14:20:00 CT 09 May 2014 14:30:00 09 May 2014 No Limit 731 133 50 110 -5'4 54 a 5150 131b +36 93 140 1,345 No Limit 14:30:00 CT 09 May 2014 1430:00 09 May 2014 No Lim 1,631 105 35 a 85 -4'6 37 5200 1045 120 173b No Limit 14:30:00 09 Mar 2014 14:30:00 09 May 2014 No Limt 326 3D 25 a -38 278 525.0 2030 +62 151 120 2120 135 No Limit 14:30:00 09 Mar 2014 1430:00 09 May 2014 No Limit 540 71 17 50 -30 20 530.0 2430 .57 184 153 a 2530 201 No Limit 14:30:00 CT 09 May 2014