Question: Reference the options chain for Caterpillar, Inc. (ticker:CAT) shown below. You bought two contracts of the $100 strike put. What is your breakeven point? State

Reference the options chain for Caterpillar, Inc. (ticker:CAT) shown below. You bought two contracts of the $100 strike put. What is your breakeven point? State your answer in contract-level terms. Your answer should be a dollar amount with two decimal places ofaccuracy.

CAT Option Chain MONTH DATE NOV 2020 V SELECT DATE V CALLS PUTS LAST CHANGE BID ASK VOLUME OPEN STRIKE LAST CHANGE BID ASK VOLUME OPEN INT. INT. 12.40 14.80 15.45 32 100.00 10.70 -0.27 10.55 10.90 12 426 11.75 12.05 12.65 154 105.00 13.00 -0.65 12.85 13.25 28 403 10.05 +0.74 9.75 10.10 10 211 110.00 15.54 15.50 15.95 308 7.70 +1.70 7.70 8.10 2 622 115.00 18.64 18.40 18.95 292 EXPIRES: 11/20/2020 LAST TRADE: $105.41 (AS OF MAY 15, 2020 11:06)

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