1. You sold three $35 call option contracts (each on 100 shares) at a quoted price of $1.40. What is your net profit or loss on this investment if the price of the underlying asset is $38.10 on the option expiration date?
A. -$510
B. -$90
C. $90
D.$510
E. $930
2. You own six call option contracts on Swift Water Tours stock with a strike price of $17.50 per share and an option premium of $.35 per share. What is the total intrinsic value of these options today if the stock is currently selling for $16.79 a share?
A. $216
B. $426
C. -$636
D. $108
E. $0