NO.PZ2021061002000062
问题如下：
A six-month call option on the QWR stock is trading
at a premium of £5. The exercise price (X) of the call option is £50. Which of
the following represents the payoff and profit of this call option if the QWR
stock is trading at £55?
选项：
A.
Payoff is £5; profit is0.
B.
Payoff is £5; profit is -£5.
C.
Payoff is 0; profit is £5.
解释：
中文解析：
1. Long call的payoff：max(0, ST – X)
根据题意可知，执行价格X等于50.现在ST=55.按照上述payoff的计算式子可知，payoff=5.
2. Long call的profit：max(0, ST – X) – c0
根据题意可知，执行价格X等于55.现在ST=50，期权费为5.按照上述profit的计算式子可知，profit=0.
如题，没有行权要交期权费是亏了吧。
