Use These Option Quotes to Answer This Question:
ZZ Industries

question 53

Multiple Choice

Use these option quotes to answer this question:
ZZ Industries: Price 34.36
Calls:
$\begin{array}{lcccccrr}\text { Strike } & \text { Symbol } & \text { Last } & \text { Chg } & \text { Bid } & \text { Ask } & \text { Vol } & \text { Open Int } \\30.00 & \text { ZZBF } & 4.30 & \downarrow .07 & 4.30 & 4.40 & 62 & 3,429 \\32.50 & \text { ZZBZ } & 1.87 & \downarrow .07 & 1.82 & 1.87 & 236 & 8,168 \\35.00 & \text { ZZBG } & .01 & .05 & .00 & .01 & 3119 & 38,017\end{array}$

Puts:
$\begin{array}{lcccccrr}\text { Strike } & \text { Symbol } & \text { Last } & \text { Chg } & \text { Bid } & \text { Ask } & \text { Vol } & \text { Open Int } \\30.00 & \text { ZZNF } & .01 & .00 & .00 & .01 & 0 & 7,258 \\32.50 & \text { ZZNZ } & .01 & \downarrow .02 & .00 & .01 & 562 & 34,972 \\35.00 & \text { ZZNG } & .60 & \downarrow .14 & .63 & .68 & 2637 & 19,686\end{array}$


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You would like to have the right to purchase 250 shares of ZZ Industries stock at a price of $32.50 a share. How much will it cost you to buy options to meet this objective?

• A)$103.11
• B)$12.90
• C)$374.00
• D)$467.50
• E)$561.00