Ahmad bought put options on Verizon with a striking price of $50. The option premium was $2.64. Just before the contract expired, Verizon stock was at 51.39 per share. Ahmad
A) made a profit of $1.39 per share.
B) lost $2.64 per share because the option would not be exercised.
C) lost $1.39 per share.
D) lost $1.20 per share.
Answer: B
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On January 1, 2015, the long-term liability section of Quick Silver Co balance sheet showed a balance of $800,000 in the bonds payable account. On December 31, 2015, the balance in that same account was $765,000 . This change would appear on the statement of cash flows as
a. an outflow of cash of $35,000 in the financing activities category. b. an inflow of cash of $35,000 in the financing activities category. c. an outflow of cash of $35,000 in the investing activities category. d. an inflow of cash of $35,000 in the investing activities category.
Which accounting application is least suited to batch processing?
a. general ledger b. vendor payments c. sales order processing d. payroll