You would like to buy five option contracts that give you the right to purchase ZZ Industries stock at a price of $32.50 a share.

ZZ Industries: Current Price $34.36

Calls: Puts:

Strike	Symbol	Last	Bid	Ask	Vol	Strike	Symbol	Last	Bid	Ask	Vol
30.00	ZZBF	4.30	4.30	4.40	62	30.00	ZZNF	.01	.00	.01	0
32.50	ZZBZ	1.91	1.88	1.91	236	32.50	ZZNZ	.01	.00	.49	562
35.00	ZZBG	.01	.00	.01	3119	35.00	ZZNG	.60	.63	.68	2637

a) How much will it cost you to buy the five option contracts? (1 mark)

b) You closed your option contracts on the expiration date when the stock was trading at $35.82. What was your total profit or loss? (1 mark)

c) Suppose the stock was trading at $33.98 on the expiration date, what was your total profit or loss? (1 mark)

d) What is the break-even price for the seller of the options?