Assume That You Open a 100-Share Short Position in Jiffy,Inc

question 5

Multiple Choice

Assume that you open a 100-share short position in Jiffy,Inc.common stock at the bid-ask price of $32.00 - $32.50.When you close your position,the bid-ask prices are $32.50 - $33.00.If you pay a commission rate of 0.5%,what is your profit or loss on the short investment?

• A) $32.50 gain
• B) $16.25 loss
• C) $132.50 loss
• D) $100.00 gain

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