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Posted on Jul 21, 2024

The price of a stock on July 1 is $57. A trader buys 100 call options (that is, one standard call option on 100 shares)

The price of a stock on July 1 is $57. A trader buys 100 call options (that is, one standard call option on 100 shares) on the stock with a strike price of $60 when the option price is $3. The options are exercised when the stock price is $69. The trader's net profit is

a. $300

b. $500

c. $600

d. $700

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