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Three months ago (in October) you bought one Tesla April Call option. Today (January) you've decided that Tesla's share price has peaked and you want

Three months ago (in October) you bought one Tesla April Call option. Today (January) you've decided that Tesla's share price has peaked and you want to get out of the long position. What is your profit if you exercise compared to your profit if you execute an offset (reversing) trade? (Calculate the round-trip profit net of the cost of buying the option in October. Express your answer as the difference between the offset profit and profit from exercise. Assume that the option is American and that there is only one share per option contract.) Enter your answer in dollars rounded to the nearest dollar. October (Three months Ago) Tesla Stock Price = $806 April Tesla Call option (X=600) premium = $320 January (Today) Tesla Stock Price = $1006 April Tesla Call option (X=600) premium = $447

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