Problem 15-6 Calculating Option Payoffs (LO2, CFA2) Puts Vol. Last Close Hendrecks 103 103 Calls Strike Price Expiration Vol. Last 100 Feb 72 5.20 100 Mar 41 8.40 100 16 10.68 100 Sul 14.30 2.40 Ape 50 29 10 2 4.90 6.60 10.10 Suppose you buy 40 March 100 put option contracts. What is your maximum gain? On the expiration date, Hendreeks is selling for $84.90 pet share How much is your options investment worth? What is your net gain? (Do not round intermediate calculations) Main Terminal value