Exhibit 22 $$\begin{array} { l c c } \text { Strike Price } & \text { Put Price } & \text { Call Price } \\\hline \$ 32.50 & \$ 2.85 & \$ 1.65\end{array}$$

question 100

Multiple Choice

Exhibit 22.4
USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
Consider the following information on put and call options for Citigroup $$\begin{array} { l c c } \text { Strike Price } & \text { Put Price } & \text { Call Price } \\\hline \$ 32.50 & \$ 2.85 & \$ 1.65\end{array}$$
-Refer to Exhibit 22.4. Calculate the net value of a protective put position at a stock price at expiration of $20, and a stock price at expiration of $45.

• A)$6.35, $18.85
• B)$29.65, $42.15
• C)$21.65, $34.15
• D)$8, $8
• E)-$8, -$8

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Definitions:

Ownership of Voting Rights

Ownership of voting rights refers to holding the power to vote on corporate matters, typically arising from the ownership of a company's shares.

Disclosure

The act of making new or important information known, especially pertaining to financial data or company operations.

Variable Returns

Financial returns from an investment that are not fixed and can vary based on performance or other factors.

Credit Risk

The risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss.