Suppose you purchase the May 2017 call option on corn futures with a strike price of $3.80. Assume you purchased the option at the last price of the day. Use Table 23.2 a. How much does your option cost per bushel of corn? (Do not round Intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.) b. What is the total cost of your position? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. Suppose the price of corn is $3.68 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Enter your answer as a positive value.) d. What is your net profit or loss if corn futures prices are $4.09 per bushel at expiration? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Enter your answer as a positive value.) per bushel a. Option cost b. Total cost do d. Uning Future Charts Last Prior Sette Chang High HILOW um LOW Volume May 2017 STA Updated 18 58 37 CT 10F 2017 3772 328 3780 122.000 BETO Type American Options Expiration: May 2017 Strike Range: At The Money Catis Puts HII LOW Limit Strike Price Volume High H LOW Limit Prior Sotte Change Prior Battle Updated Low Last Last Change Low High Volume Updated No 165857 CT 101 2017 - 207 3600 $ 51 $ so 53 No SO U 00 CT 10 FD 2011 00 % No 163837 CT 16 2017 235 235 Ne Umt SEO 87 ** 1 5 TO 163854 CT 10 2011 00 : NO 1630 CT TOP 2017 700 205 191 197 3700 35 51 97 No 917 Lt 00 380 CT 10 2017 00 No UME 00 103 - 3750 1638.40 CT 10 2017 103 -14 117 103 107 NO 3.NU 00 16300 CT 10 3011 No 123 117 924 100 16:30:37 CT 10 F 2017 150 3000 127 - 165 161 NO 100 US 00 163024 CT 10 2011 00 2017 1 1 53554 CT OF 1 163837 CT 10 2017 3450 2 No Limit 00 67 231 70 63 239 198 EU 00 No 017 51 97 * 151 185 197 - 74 2 NO LE 00 218 - 1530 CT OF 2017 370000 CT 10 2017 09 m 103 107 375.0 163 103 161 NO 3. Ut 00 16.30 CT 10 FD 2017 171 357 177 CT 10 2011 Lt 00 NO - 18 127 334 CT 10 2011 3000 5 NO 10 - 00 117 CT FO 23 104 150 00 OU 173 1630 CT OP 2017 s1g 16.000 CT 10 2017 3050 120 unt OD NO 27 re 2 100 3 200 30 CT 10 PRO 2011 1 5 1630 CT 13 Fe 2017 105 106 10 01 - 00 00 NO 3830 CT 10 16325 CT . 17 3M 6 33 3 00 301 2017 21: 21 NO UN 00 13 16:38:41 CT 10 2011 16343 CT 10 2017 18 230 TS 50 00 No Ut 00 NO . 1 4000 57 51 OT 10. 2011 -13 2 6300 CT 15 2017 00 AS THE
