问题
单项选择题
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
A．
| A. LONG = - $4.00; SHORT = $4.00. |
B．
| B. LONG = $4.00; SHORT = - $4.00. |
C．
| C. LONG = $0.00; SHORT = $0.00. |
答案
参考答案：C
解析：
LONG option: Max (0, X - ST) - PT = Max ( 0, 32.50 - 28.50) - 4.00 = Max (0, 4.00 ) - 4.00 =4.00 -4.00 =0.
SHORT option : Pt - Max ( 0, X - ST ) = 4.00 - Max (0, 32.50 - 28.50 ) = 4.00 - Max ( 0, 4.00) =4.00-4.00=0.