If you purchased four speakerpro call option contracts with a strike price of $62 when the option was quoted at $2.98. the option expires today when the value of speakerpro stock is $64.60. your total profit on your investment is $152.
Using this formula to find the total profit on your investment
Total profit =(Stock value -Strike price-Option quoted)×100×Call option
Let plug in the formula
Total profit = ($64.60 - $62 - $2.98) × 100 ×4
Total profit =$0.38×100×4
Total profit= $152
Therefore we can conclude that the total profit is the amount of $152.
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