Exhibit 22 $$\begin{array} { c c c } \text { Wtrike Price } & \text { Put Price } & \text { Call Price } \\\hline \$22.50 &\$ 2.65 & \$ 1.85\end{array}$$

question 40

Multiple Choice

Exhibit 22.8
Use the Information Below for the Following Problem(S)
Consider the following information on put and call options for a common stock
$$\begin{array} { c c c } \text { Wtrike Price } & \text { Put Price } & \text { Call Price } \\\hline \$22.50 &\$ 2.65 & \$ 1.85\end{array}$$
-Refer to Exhibit 22.8.Calculate the net value of a protective put position at an expiration stock price of $20.

• A) $2.85
• B) $17.15
• C) $19.85
• D) $21.65
• E) $22.85

---

Definitions:

Privacy Rights

The rights of individuals to have their personal information, activities, and communications kept confidential and protected from unauthorized access or disclosure.

Supreme Court

The highest judicial court in a country or state, which has the ultimate authority in interpreting the law and constitution.

Workers' Compensation Claim

A legal action filed by employees to receive benefits for injuries or illnesses directly related to their job.

Invasion of Privacy

The intrusion into the personal life of another without consent, violating one's right to privacy.