1. Many people believe the bond ratings agencies played a role in the financial meltdown and mortgage crisis that began around 2008. What do you think were some of the issues people had with the bond rating agencies and were those issues reasonable?
2. You purchase one XYZ July 60 call contract for a premium of $1.53. On the expiration date, XYZ stock sells for $58.55 per share.
What is your total profit on this investment?