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 58

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 covered call position at an expiration stock price of $20.

• A) $1.85
• B) $4.45
• C) $18.15
• D) $21.85
• E) $24.35

---

Definitions:

Transactional Leadership

A leadership style centred on clear exchanges between leaders and followers, focusing on performance and rewards.

Inspirational Promotion

Marketing or motivational strategies designed to uplift and motivate an audience, encouraging affirmative action or positive change.

Consistent Vision

A clear, unchanging long-term goal or set of goals that guides a company or individual's decisions and strategies.

Transactional Leaders

Leaders who focus on supervision, organization, and performance; they motivate followers through a system of rewards and penalties.