Answer the following independent questions. No points are given without showing calculation steps or giving detailed explanation. Assume the Put - Call Parity holds and use continuous compounding where applicable; i.e. PV(X) = Xe^-rt, where r is the risk-free rate and t is in years.

i) A put on Ranors stock with a strike price of $35 is priced at $2 per share, while a call with a strike price of $35 is priced at $3.50. Calculate the maximum per-share loss to the writer of an uncovered put and the maximum per-share gain to the writer of an uncovered call.

ii) You write one ABC May 120 call contract (equaling 100 shares) for a premium of $4. You hold the option until the expiration date, when ABC stock sells for $121 per share. How much will you realize on the investment?