You have been watching a stock which is currently trading at RM50 per share. You would like to buy the stock if it were a little less expensive, at RM47 per share. You believe that the stock price will go to RM70 by year-end, and then level off or decline. You decide to place a limit order to buy 100 shares of the stock at RM47, and a limit order to sell it at RM70. It turns out that you were right about the direction of the stock price, and it goes straight to RM75.

Determine your current position. Calculate your gains/loss of your stock holding. (6 marks)