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Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $45. Calls Puts Strike Vol 103

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Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $45. Calls Puts Strike Vol 103 79 40 21 Vol 58 40 29 21 Last 3.03 3.44 3.86 3.90 OptionExpirationPrice Macrosoft Feb Mar May Aug 47 47 47 47 2.03 2.27 2.55 2.76 a. Suppose you buy 28 contracts of the February 47 call option. How much will you pay, ignoring commissions? Cost 5684 Suppose you buy 28 contracts of the February 47 call option. Macrosoft stock is selling for $48 per share on the expiration date. b-1 How much is your options investment worth? Payoff b-2 What if the terminal stock price is $47 Payoff Suppose you buy 28 contracts of the August 47 put option

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