You own 100 shares of a stock and you are worried the price may fall in three months. The premium of a three-month put option on the stock with an exercise price of $75 is $5 per share. If you used a protective put strategy to hedge your stock position (ie, you bought one put option), what is your portfolio value if in three months the stock price drops to $55? Note one option contract gives the right to buy or sell) 100 shares of the underlying stock. $7,000 $6,100 $2,500 $7,500 Question 31 0.67 pts Suppose you purchase one Texas Instruments call option contract with an exercise price of $65 for a premium of $7 (per share) and write one Texas Instruments call option contract with an exercise price of $70 for a premium of $5 (per share). If, at expiration, the price of a share of Texas Instruments stock is $73, your profit would be Note one option contract gives the right to buy for sell) 100 shares of the underlying stock. $150 $50 $250 $300