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You buy a three-month call option on 1,000,000 at a strike price of $1.38/ and a premium of $0.03/. What is your total profit or

You buy a three-month call option on 1,000,000 at a strike price of $1.38/ and a premium of $0.03/. What is your total profit or loss if the spot exchange rate is $1.40/ in three months time?

Question 32 options:

	$30,000 loss
	$10,000 profit
	$20,000 profit
	$10,000 loss

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