Question: Consider a call option on BMI Corp. with a strike price of $ 1 0 1 and a premium of $ 2 . 2 0

Consider a call option on BMI Corp. with a strike price of $101 and a premium of $2.20. What is the profit or loss on the call just prior to expiration if the stock price is $113?
Place your answer in dollars and cents without a dollar sign. Denote answers that are less than zero with a minus sign in front of the number.  

 

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