You own a call option on Intuit stock with a strike price of $$$$38.$ When you purchased the$$ option, it cost $$$$3.$ The option will expire in exactly three$$ months' time.

a$.$ If the shares are trading at $$$$44$ in three$$ months, what will be the payoff of the$$ call? What will be the profit of the$$ call?

b$.$ If the shares are trading at $$$$29$ in three$$ months, what will be the payoff of the$$ call? What will be the profit of the$$ call?

c$.$ Draw a payoff diagram showing the value of the call at expiration as a function of the share price at expiration.

d$.$ Redo$($c$),$ but instead of showing$$ payoffs, show profits.

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Part $1$

a$.$ The payoff of the call is $$$

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