You bought two stock call option contracts with the strike price of $54.7. The option premium per contract was $3.5 and the spot price was $56 when you entered into the option contracts. The contract size per contract is 100. Now the spot price increased to $57.0 and the call option price increased to $4.65. Upon these price changes, you decided to exercise the options. Compute the rate of return on the options. Remember ROR = $NetProfit/$Cost

a. Negative

b. higher than 50% but less than 100%

c. higher than 0% but less than 50%

d. higher than 100%

e. 0%