[单项选择]An investor bought a 40 put on a stock trading at 43 for a premium of $1. What is the maximum gain on the put and the value of the put at expiration if the stock price is $41 Maximum Gain on Put Value of the Put at Expiration ①A. $39 $0 ②B. $4O $2 ③C. unlimited $1

[单项选择]An options investor purchases one stock put option on General Motor’s stock. The put has the following characteristics : Type of option: put option Underlying asset: 100 shares of General Motor’s stock Exercise price : $75 per share Premium: $1.81 per share Expiration date : November By taking a LONG position in this put option, the investor has:（　）
A. purchased the right to decide whether to sell 100 shares of General Motor’s stock and receive $181 during the specified time period (the expiration date in November) 
B. purchased the right to decide whether to purchase 100 shares Of General Motor’s stock and receive $181 during the specified time period (the expiration date in November) 
C. none of the above

[单项选择]An options investor sells one stock put option with the following characteristics: Type of option: put option on stock Underlying asset: 100 shares of Bank of America Stock Exercise price : $55 per share Premium : $2.44 per share Expiration date : October By taking a SHORT position in this put option, the investor has（　）
A. obligated herself to sell 100 shares of Bank of America stock and receive $5500 during the specified time period (expiration date in October). 
B. purchased the right to decide whether to sell 100 shares of Bank of America stock and receive $5500 during the specified time period (expiration date in October). 
C. obligated herself to purchase 100 shares of Bank of America stock and pay $5500 during the specified time period (expiration date in October).

[单项选择]An investor bought a 15 call for $14 on a stock trading at $20. If the stock is trading at $24 at option expiration, what is the profit and the value of the call at option expiration Profit Value of the Call ①A. - $5 $5 ②B. $4 - $5 ③C. - $5 $9

[单项选择]An investor owns a stock portfolio that closely follows the Standard & Poor’s 500 Index (S&P500). He purchases one S&P500 stock index put option. The investor’s position is now portfolio insurance with the following characteristics: Portfolio position: LONG S&P500 Portfolio purchase price: 1427.21 Option position: LONG 1 put option Underlying asset: S&P 500 Index Exercise price : 1225 Premium : 3 Expiration date : November If the expiration-day price of S&P500 were 1200, then the expiration-day profit/loss for the portfolio insurance would be:

[单项选择]The following data pertains to an investor"s stock: The stock will pay no dividends for two years. The dividend three years from now is expected to be $1. Dividends are expected to grow at a 7% rate from that point onward. If the investor requires a 17 percent return on their investments, how much will the investor be willing to pay for this stock now
A. $6.24.
B. $7.31.
C. $8.26.

[单项选择]An investor purchases a stock for $40 a share and simultaneously sells a call option on the stock with an exercise price of $42 for a premium of $3/share. Ignoring dividends and transactions cost, what is the maximum profit that the writer of this covered call can earn if the position is held to expiration

[单项选择]Consider a stock put option with the following characteristics: Type of option: put option on stock Underlying asset: 100 shares of Compaq Exercise price : $32.50 per share Premium : $4.00 per share Expiration date : November Expiration-day price of Compaq stock were $28.50 per share, which of the following would describe the expiration-day profit/loss for the investors in the Compaq put option

[单项选择]An options investor purchases one put option on March coffee futures. The put has the following characteristics: Type of option put option Underlying asset 1 March coffee futures contract(37500pounds) Exercise price $ 0.775 per pound Premium $ 0.0425 per pound Expiration date March The current price (futures price) of the March coffee futures contract is $ 0.762 per pound. This LONG put option is:（）
A. in the money in the amount of $ 0.013 per pound.
B. in the money in the amount of $ 0.7325 per pound.
C. out of the money in the amount of $ 0.762 per pound.

[填空题]
Participants in the stock market range from small individual stock investors to large hedge fund traders, who can be based anywhere. Their orders usually end up with a professional at a stock exchange, who executes the order of buying or selling.
(9) thus providing a marketplace (virtual or real). The exchanges provide real-time trading information on the listed securities, facilitating price discovery.
Some exchanges are physical locations where transactions are carried out on a trading floor, by a method known as open outcry. This type of auction is used in stock exchanges and commodity exchanges where traders may enter "verbal" bids and offers simultaneously. (10) composed of a network of computers where trades are made electronically via traders.
Actual trades are based on an auction market model where a potential buyer bids a specific price for a stock and a potential s

[单项选择]An investor writes a July 20 call on a stock trading at 23 for premium of $4. The breakeven price on the trade and the maximum gain on the trade are, respectively: Breakeven Price Maximum Gain ①A. $24 $4 ②B. $24 $3 ③C. $27 unlimited

[单项选择]An investor wants to sell some of the stock that he owns in Micro Tron and Dynaco Corporations. He can sell Micro Tron stock for $ 36 per share, and he can sell Dynaco stock for $ 52 per share. If he sells 300 shares altogether at an average price per share of $40, how many shares of Dynaco stock has he sold
A. 52
B. 75
C. 92
D. 136
E. 184