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You own a call option on Intuit stock with a strike price of 39. When you purchased the option, it cost $7. The option will
You own a call option on Intuit stock with a strike price of 39. When you purchased the option, it cost $7. The option will expire in exactly three months' time.
a. If the stock is trading at $51 in three months, what will be the payoff of the call? What will be the profit of the call? (Round to nearest dollar)
b. If the stock is trading at $28 in three months, what will be the payoff of the call? What will be the profit of the call?(Round to nearest dollar)
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