Use the option quote information shown in the table to answer the questions that follow. The stock is currently trading at $40. Note: One contract has options to purchase 100 shares. Calls Puts Strike Expiration Price Vol. Last Vol. Last Feb 38 85 2.35 37 0.24 Mar 38 61 3.15 22 0.93 May 38 22 4.87 11 2.44 38 3 6.16 3 3.56 Aug a. Suppose you buy 10 contracts of the February 38 call option. How much will you pay? b. In part (a), suppose that the stock is selling for $44 per share on expiration date. How much is your investment in options worth? What if the final stock price at expiration is $39? Explain C. Suppose you purchase ten contracts of the August 38 put option. What is your maximum gain? On the expiration date the stock is selling for $33 per share. How much is your options investment worth? d. In part (c) Suppose you sell ten of the August 38 put contracts. What is your net gain or loss if the company is selling for $33 at expiration? What is it is selling at $42? What is the break-even price (that is the final price) that will result in a zero profit? Use the option quote information shown in the table to answer the questions that follow. The stock is currently trading at $40. Note: One contract has options to purchase 100 shares. Calls Puts Strike Expiration Price Vol. Last Vol. Last Feb 38 85 2.35 37 0.24 Mar 38 61 3.15 22 0.93 May 38 22 4.87 11 2.44 38 3 6.16 3 3.56 Aug a. Suppose you buy 10 contracts of the February 38 call option. How much will you pay? b. In part (a), suppose that the stock is selling for $44 per share on expiration date. How much is your investment in options worth? What if the final stock price at expiration is $39? Explain C. Suppose you purchase ten contracts of the August 38 put option. What is your maximum gain? On the expiration date the stock is selling for $33 per share. How much is your options investment worth? d. In part (c) Suppose you sell ten of the August 38 put contracts. What is your net gain or loss if the company is selling for $33 at expiration? What is it is selling at $42? What is the break-even price (that is the final price) that will result in a zero profit