Question: Joanie wants some extra cash. She writes a call option on IBM with a strike price of $155.00 and an expiration of one month. Joanie

Joanie wants some extra cash. She writes a call option on IBM with a strike price of $155.00 and an expiration of one month. Joanie collects a premium of $1.55. What will be the result if IBM stock price goes up to $200.00 per share by the end of the expiration period?

Group of answer choices

Joanie loses $4,345.00.

Joanie loses $434.50.

Joanie gains $4,500.00.

Joanie gains $4,345.00.

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