Problem 15-7 Calculating Option Payoffs (LO2, CFA2) Strike Price Calls Vol. Last Puts Vol. Last Expiration Close Hendreeks 103 103 103 103 100 100 100 100 Feb Mar Apr Jul 72 41 16 8 5.20 8.40 10.68 14.30 50 29 10 2 2.40 4.90 6.60 10.10 a. Suppose you write 30 of the Apr 100 put contracts. What is your net gain or loss if Hendreeks is selling for $97.20 at expiration? For $110? S97.20 at expiration S110 at expiration b. What is the break-even price, that is, the terminal stock price that results in a zero profit? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Break-even price