Use These Option Quotes to Answer This Question:
ZZ Industries

question 56

Multiple Choice

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


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 want to sell five call option contracts on ZZ Industries stock at a strike price of $32.50 a share. How much will you receive in option premiums if you place this order today?

• A)$300
• B)$1,290
• C)$910
• D)$728
• E)$546

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Definitions:

Demand for Leisure

The desire for free time in which one can enjoy personal activities outside of work.

Labor Supply Curve

A graphical illustration of the relationship between the wage rate and the quantity of labor workers are willing to supply at various wage rates.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Income Effect

The change in consumers' purchasing power and consequently the quantity demanded of a good or service, prompted by a change in real income.