CUMULATIVE NORMAL DISTRIBUTION TABLE 
-Refer to the information above. Calculate the value of a call option on a stock that is
currently selling for $88 if the strike price is $90, the option expires in 3 months, the
implied volatility of the underlying stock returns is 22%, and the annualized risk-free
rate is 4%.
Definitions:
Stock Index
A measurement of a section of the stock market, usually representing the performance of certain stocks or industries.
Soybean Future
A standardized contract for the future sale or purchase of soybeans, traded on a commodities exchange.
Wheat Spot Price
The current market price at which wheat can be bought or sold for immediate delivery.
Profit
The financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
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