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 88

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 payoffs of a short straddle 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

Distinguish between state and federal authority in environmental regulation and enforcement.

Recognize the impact of environmental acts on public health and safety, including the regulation of pollutants and hazardous substances.

Understand the principles of environmental policy acts, including the NEPA and the responsibilities of the Council on Environmental Quality.

Understand the legal implications of deceptive advertising practices.

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