Steve Bought 300 Shares at a Price of $20 Per

question 61

Multiple Choice

Steve bought 300 shares at a price of $20 per share. The price then went up to $33 per share so Steve decided to hedge his position by purchasing 3 puts at a cost of $120 each. The puts have an exercise price of 30. One week prior to the expiration of the puts, the price was at $22 per share. If Steve closed out all of his positions at that time, he would have earned a net profit of

• A) $200.
• B) $240.
• C) $3,000.
• D) $2,640.

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Nations that provide financial or material aid to other countries for development, relief efforts, or economic assistance.

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Loans that are made across national borders, often involving different currencies and international financial institutions.

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The quality and quantity of goods and services available to individuals or societies, including health, comfort, and leisure time activities.

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