AA Company: Price 35 Puts -You Own 300 Shares of AA Stock That You Purchased

Multiple Choice

AA Company: Price 35.20

Calls:
$\begin{array}{|r|r|r|r|r|r|r|r|}\hline \text { Strike } & \text { Symbol } & \text { Last } & \text { Change } & \text { Bid } & \text { Ask } & \text { Volume } & \text { Open Int. } \\\hline 27.50 & \text { AAEY } & 7.70 & +0.28 & 7.70 & 7.80 & 2 & 289 \\\hline 30.00 & \text { AAEF } & 5.20 & +0.36 & 5.20 & 5.30 & 453 & 1,306 \\\hline 32.50 & \text { AAEZ } & 2.80 & +0.30 & 2.75 & 2.80 & 520 & 3,609 \\\hline 35.00 & \text { AAEG } & 0.45 & +0.20 & 0.40 & 0.50 & 656 & 5,372 \\\hline\end{array}$

Puts:

$\begin{array}{|r|l|r|r|r|r|r|r|}\hline \text { Strike } & \text { Symbol } & \text { Last } & \text { Change } & \text { Bid } & \text { Ask } & \text { Volume } & \text { Open Int. } \\\hline 35.00 & \text { AAQG } & 0.30 & -0.20 & 0.25 & 0.30 & 19 & 1.607 \\\hline 37.50 & \mathrm{AAQS} & 2.35 & -1.30 & 2.30 & 2.40 & 11 & 114 \\\hline 40.00 & \mathrm{AAQH} & 4.80 & -0.10 & 4.80 & 4.90 & 2 & 13 \\\hline\end{array}$
-You own 300 shares of AA stock that you purchased for $22 a share. You would like to have the right to sell your shares for $35 a share. What will be the cost to obtain this right?

A) $75
B) $90
C) $120
D) $135
E) $150