What is the total option premium you will receive if you sell 4 May $27.50 calls on Texas Instruments? Texas Instruments (TXN) CALL PUT Exp Strike Bid Ask Bid Ask May 25.00 6.60 6.70 N/A 0.01 Jun 25.00 6.50 6.75 N/A 0.03 Oct 25.00 6.95 7.25 0.39 0.42 May 27.50 4.10 4.15 N/A 0.01 Jun 27.50 4.05 4.30 0.07 0.10

Group of answer choices

$2,170

$850

$1,640

$3,375

$90

You bought a call option with a strike price of $40. What is your total payoff on this option contract if the underlying stock is selling for $42.70 on the option expiration date?

Group of answer choices

$270.00

$233.00

$70.00

$3.00

$133.00