Use the following quotes for Target stock options:

Assume you purchased the right to sell 2,800 shares of Target stock in March 2019 at a strike price of $55 per share. Suppose Target stock sells for $53 per share immediately before your options expiration. What is the rate of return on your investment? What is your rate of return if the stock sells for $64 per share? Assume your holding period for this investment is exactly three months.