The dollar to the Japanese yen is quoted at $0.008285/ today. Call options on the yen with an exercise price of $0.008295/ and expiration in three months are selling for $0.000878/. Each option contract calls for the exchange of 6.25 million. You start with $230,000 (plus or minus enough dollars to round to nearest whole contract).

If you buy the yen calls, how much premium do you pay per contract?

How many call contracts can you buy (adjust your answer given that you can add or subtract the needed amount)?