You estimate that North American Marijuana LTD ( NAM ) will probably increase sales by 10 times in the next two years , when you believe that marijuana sales will become legal at the Federal level in the US . You believe that the firm's stock price , currently $ 100 / share , will move up accordingly .

Today , you buy three call options . Each option : Gives you the right to purchase one share of NAM in two years , for $ 110 per share . . Costs $ 15 today .

What is your Gain ( Loss ) on this trade if marijuana remains illegal at the federal level , and NAM's shares are trading at $ 45 in two years ? Assume you want to end up with cash , not shares of stock . Round to zero decimal places .