1. Exchange-traded options are characterized by________________, while the over-the-counter options are structured for _____________________.
a) standardization / flexibility
b) buyers / sellers
c) call options / put options
d) March cycle / January cycle
e) gross profit / net profit
2. An August $1.08 CHF put option is currently trading at $0.04/CHF. The spot exchange is $0.98/CHF. Based on this information, its gross profit is $____ and its net profit is $______.
a) 0.06 / 0.10
b) 0.98 / 1.08
c) 1.08 / 0.04
d) 0.10 / 0.06