Question: Please help me quick! Rosa purchased three call option contracts on ABC stock with a strike price of $27.50 when the option was quoted at

Please help me quick!

Rosa purchased three call option contracts on ABC stock with a strike price of $27.50 when the option was quoted at $1.10 per share. The option expires today when the value of ABC stock is $29.30. Ignoring trading costs and taxes, what is the net profit on this investment?

A) $0

B) $210

C) $330

D) $140

Here is my answer: but I don't see it in the options

Profit on call option contract:

= (Stock price - Strike price - Call price)100

= ($29.30-$27.50-$1.10)100

= $0.70100

= $70

Hence, correct option is A) $70

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