You sold fifty put contracts (1 contract = 100 shares) on ABC stock at an option premium of $0.80. The options have an exercise price of $30. The options were exercised today when the stock price was $28.75 a share. What is your net profit or loss on this investment assuming that you closed out your positions at a stock price of $28.75? Ignore transaction costs and taxes

As you were not sure if the price of ABC stock would rise or fall in price, you also bought a certain number of call option contracts (1 contract = 100 shares) at a premium of $0.65 and the same exercise price. How many contracts would you have had to buy to ensure that you break-even? (Round up number of contracts to a whole number)