Given the following information about a 3-year call option on a certain stock:
• The current stock price is $550.
• The prepaid forward price volatility (the volatility relevant for the BlackScholes formula) is 0.2.
• The strike price is $523.
• The stock pays dividends at an annual continuously compounded yield of 238 0.03.
• The annual continuously compounded interest rate is 0.07.
Find the elasticity of such a call option.