You purchased 100 shares of bank of america bac at 1700 how, Financial Management

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You purchased 100 shares of bank of america bac at 1700 how

You purchased 100 shares of Bank of America (BAC) at $17.00. You also purchased a put option contract (covering 100 shares) with a strike price of $17.75. The premium on the option was $1.25 per share. At expiration of the option the price of BAC is $17.50. How much did you make/lose in total?

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Financial Management: You purchased 100 shares of bank of america bac at 1700 how

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