Suppose you think FedEx stock is going to appreciate substantially in value in the next 6 months. Say the stocks current price, S0, is $75, and the call option expiring in 6 months has an exercise price, X, of $75 and is selling at a price, C, of $10. With $15,000 to invest, you are considering three alternatives.

a.	Invest all $15,000 in the stock, buying 200 shares.
b.	Invest all $15,000 in 1,500 options (15 contracts).
c.	Buy 100 options (one contract) for $1,000, and invest the remaining $14,000 in a money market fund paying 4% in interest over 6 months (8% per year).

What is your rate of return for each alternative for the following four stock prices 6 months from now? (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. Omit the "$" and "%" signs in your response.)

		Price of Stock 6 Months from now
Stock Price	$ 55	$ 75	$ 85	$ 95
All Stocks (200 Shares)	$	$	$	$
All options (1,500 options)	$	$	$	$
Bills + 100 options	$	$	$	$
The percentage return of your portfolio in six months for each of the following stock prices is:
		Price of Stock 6 Months from Now
Stock Price	$ 55	$ 75	$ 85	$ 95
All Stocks (200 Shares)	%	%	%	%
All options (1,500 options)	%	%	%	%
Bills + 100 options	%	%	%	%