The spot price of the British pound is $1.45. Avishek buys a call option on the British pound with a strike price of $1.50 and the December settlement date. The option premium is $.010 per unit. Just before the expiration date, the spot rate of the British pound increases to $1.52. If one option contract represents 30000 units, what are the likely order of actions and profit(loss) Avishek may experience?

a. Avishek immediately sells the pound in the market @ $1.52 and exercises the call option to achieve a net gain of 300. b. Avishek immediately sells the pound in the market @ $1.52 and exercises the call option to achieve a net gain of $300. c. Avishek exercises the call option and immediately sells the pound in the market @ $1.52 to achieve a net gain of $300. d. Since the market price is higher, Avishek does not exercise the option and suffers a loss of $300.