Su Lee wrote three call option contracts with a strike price of $22.50 and an option price of $.55 per share. What is the net profit on this investment if the price of the underlying stock is $22.95 per share on the option expiration date? Ignore trading costs and taxes.
A) $10
B) $.30
C) $.10
D) $30
E) $0
Correct Answer:
Verified
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