1. An investor has exchange-traded call options to buy 100 shares for $330 per share. There is a 6-for-4 stock split. Which of the following is the position of the investor after the stock split?
2. A bond with a maturity of 5 years, has a face value of $1,000,000 and a coupon rate of 5% per year paid annually. Calculate the market value of this bond if investors are expecting a yield of 3% per year.