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 16

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 covered call 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

---

Definitions:

Bacteria

Microscopic, single-celled organisms that inhabit almost all environments on Earth, including soil, water, and within other organisms.

Protista

A diverse kingdom of mostly unicellular organisms that are not plants, animals, or fungi, including algae, protozoa, and slime molds.

Genomes

The complete set of genes or genetic material present in a cell or organism, providing the biological blueprint for an organism’s structure and function.

Dogs

Domesticated carnivorous mammals that have been selectively bred for a variety of behaviors, sensory capabilities, and physical attributes.