Question: On April 1 , 2 0 2 2 , the Bush Investment Traders Corporation [ BIT ] purchased a call option for (

On April 1,2022, the Bush Investment Traders Corporation [BIT] purchased a call option for \(\$ 175\) on the Worldwide Hotels, Inc., [WWH] common shares. This call option gives [BIT] the right to buy 700 shares of [WWH] at an exercise/strike price of \(\$ 27\) per share any time during the next six months. The market price of [WWH] shares was \(\$ 27\) per share on April 1,2022. On June 30,2022, the fair value of the option was \(\$ 10,000\). On the following day when the market price for [WWH] stock was \(\$ 38\) per share, [BIT] exercised the option.
On April 1 , 2 0 2 2 , the Bush Investment

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