a. You write a put option on a stock for a premium of $0.25. The exercise price is $100. What is the option's profit or loss if just prior to expiration the stock price is $101?

b. Suppose that you sell Oxy short at $23 and at the same time you write a call option on Oxy with a strike price of $23 and a premium of $2. What is the combined profit or loss on the two positions together if just prior to expiration of the call option the price of Oxy is $19? Assume that you cover your short position (meaning you get rid of the short position) just prior to the time of option expiration.

c. You buy a call option on a stock for a premium of $5.00. The exercise price is $32.50. What is the option's profit or loss if just prior to expiration the stock price is $32.50?

d. You buy a put option on a stock for a premium of $5.00. The exercise price is $32.50. What is the option's profit or loss if just prior to expiration the stock price is $32.50?

e. You write a call option on a stock for a premium of $50. The exercise price is $500. What is the option's profit or loss if just prior to expiration the stock price is $445?