Use the following option quotes to answer questions #24 through #29.

Call Put

Option Strike Exp. Vol. Last Vol. Last

Cisco 15.00 Oct. 491 2.26 559 0.25

16.30 15.00 Nov. 259 2.90 154 1.00

16.30 17.50 Oct. 680 0.85 522 1.60

16.30 17.50 Nov. 142 1.33 40 2.31

16.30 17.50 Feb. 51 1.95 28 3.77

16.30 20.00 Oct. 828 0.30 915 4.05

16.30 20.00 Nov. 123 0.55 212 4.67

28. Suppose you bought 20 Cisco Oct 15 call contracts. Just before the option expires, the stock is selling for $18. What is your net profit (or loss)? Ignore transaction costs.

a.