Nine Months Ago, Zena Paid $0

question 79

Multiple Choice

Nine months ago, Zena paid $0.62 to purchase one call option on LPK stock. The stock price was $12.89 and the strike price was $13.00 at the time of her purchase. If the options expire out-of-the-money, Zena will:

• A) Lose $1,238.
• B) Lose $62.
• C) Earn $62.
• D) Earn $1,238.
• E) Cannot be determined from the information provided.

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