QUESTION 14 The following quotes are for options on shares in Apple. AAPL 122.72 Today is December 1 Expiration Calls Strike Puts Bid Ask Bid Ask Feb 9.85 10.00 120 7.05 7.25 Feb 7.40 7.65 125 9.70 9.90 Jun 14.35 14.60 120 11.70 11.90 Jun 12.05 12.30 125 14.35 14.55 a) For the $120 strike call options with 2 months to expiration, what is the intrinsic Value per share? b) You buy 3 contracts of the Feb 120 call options. How much will you pay in total, ignoring commissions? c) In February on the expiration date, AAPL's price increases to $128.60 per share. For the Feb 120 call option, what is the payoff per share? d) Did you make a profit or a loss on your options? Enter either Profit" or "Loss" for your answer. QUESTION 14 The following quotes are for options on shares in Apple. AAPL 122.72 Today is December 1 Expiration Calls Strike Puts Bid Ask Bid Ask Feb 9.85 10.00 120 7.05 7.25 Feb 7.40 7.65 125 9.70 9.90 Jun 14.35 14.60 120 11.70 11.90 Jun 12.05 12.30 125 14.35 14.55 a) For the $120 strike call options with 2 months to expiration, what is the intrinsic Value per share? b) You buy 3 contracts of the Feb 120 call options. How much will you pay in total, ignoring commissions? c) In February on the expiration date, AAPL's price increases to $128.60 per share. For the Feb 120 call option, what is the payoff per share? d) Did you make a profit or a loss on your options? Enter either Profit" or "Loss" for your