Question: Current Attempt in ProgressOn August 1 , 2 0 2 3 , WJ Ltd . purchased a call option from DDR Investments Corporation. The option

Current Attempt in ProgressOn August 1,2023, WJ Ltd. purchased a call option from DDR Investments Corporation. The option gave JWJ the right to buy 16,000 shares in a third company, MGL Ltd., at a price of $23.50 per share. On the day JWJ purchased the option, MGL shares were trading at $23.50 each. JWJ paid $700 for the options. On August 31,2023, the MGL shares were trading at $34.50 each, and the options for MGL shares were trading at $24,400. On September 15, JWJ settled the options in cash when the MGL shares were trading at $36.25 and the options were trading at $204,000.

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