Solution for QID #3638: You wrote a covered call (i.e., sell a call option on the st | StudyHelpMe

You wrote a covered call (i.e., sell a call option on the stock already owned) with a strike price of $30 and an option premium of $2.20. Assume the stock price goes up to $35 a share at the option expiration. As a result, you will: keep the option premium but lose your shares of stock los both your stock and option premium los the option premium but get to keep the stock lose an amount equal to the option premium keep both your stock and the option premium