Assume That You Open a 100 Share Short Position in Jiffy

Multiple Choice

Assume that you open a 100 share short position in Jiffy, Inc. common stock at the bid-ask price of $32.00 - $32.50. When you close your position the bid-ask prices are $32.50 - $33.00. If you pay a commission rate of 0.5%, calculate your profit or loss on the short investment?

A) $32.50 gain
B) $16.25 loss
C) $132.50 loss
D) $100.00 gain