Refer to Table 10–6. Price quotes are stated in 1/64ths. What was the closing price of a May 3,990 call option on the S&P 500 Stock Index futures contract on January 13, 2023? Round your closing price answer to 1 decimal place and dollar price answer to the nearest whole number. TABLE 10-6 Option Quotes, January 13, 2023 Underlying Asset: S&P 500 Index (SPX) Closing Value: 3,999.09 Expiration Strike Price Calls Puts Last Volume Open Interest Last Volume Open Interest 04-21-23 3990 140 0 258 164.6 0 223 04-21-23 4010 164.3 257 18,244 144.3 100 17,166 05-19-23 3990 200.7 210 30 169.1 210 52 05-19-23 4010 186.1 303 3,552 279.2 2 3,965 06-16-23 3990 223.3 1 16 178.8 1 1 06-16-23 4010 152.9 0 46 183 1,665 42,159 12-15-23 3975 361 100 2,555 250.1 32 2,438 12-15-23 4025 349.3 0 2,416 268.2 4 2,149 OPTIONS ON INTEREST RATE FUTURES Underlying Asset: March 2023 30-Year Treasury Bond Future Prior Settle: 130'02 Expiration Strike Price Calls Puts Last Volume Prior Settle Last Volume Prior Settle February 23 128 2'33 756 3'08 0'36 4,465 0'30 February 23 129 1'61 1,110 2'24 0'56 2,034 0'46 February 23 131 0'55 1,047 1'12 1'49 530 1'34 February 23 132 0'35 1,205 0'50 2'27 19 2'08 March 23 126 5'40 23 5'25 0'56 5,840 0'48 March 23 128 3'45 358 3'57 1'27 2,365 1'16 March 23 132 1'27 1,082 1'44 2'55 6 3'02 March 23 133 1'06 2,614 1'20 3'49 5 3'41 OPTIONS ON INTEREST RATE FUTURES Underlying Asset: March 2023 10-Year Treasury Note Future Prior Settle: 114'24 Expiration Strike Price Calls Puts Last Volume Prior Settle Last Volume Prior Settle February 23 114 1'19 5,951 1'30 0'21 13,884 0'15 February 23 114.5 0'52 1,799 1'07 0'33 6,483 0'24 February 23 115 0'35 12,718 0'50 0'46 11,649 0'35 February 23 115.5 0'21 6,395 0'33 0'52 43 0'50 March 23 112.5 2'43 323 3'00 0'23 5,014 0'18 March 23 113 2'33 1,324 2'38 0'29 16,052 0'24 March 23 115 1'03 7,588 1'16 1'12 10,194 1'01 March 23 115.5 0'51 4,140 1'00 1'24 2,897 1'17

Refer to Table 10–6. Price quotes are stated in 1/64ths. What was the closing price of a May 3,990 call option on the S&P 500 Stock Index futures contract on January 13, 2023? Round your closing price answer to 1 decimal place and dollar price answer to the nearest whole number. TABLE 10-6 Option Quotes, January 13, 2023 Underlying Asset: S&P 500 Index (SPX) Closing Value: 3,999.09 Expiration Strike Price Calls Puts Last Volume Open Interest Last Volume Open Interest 04-21-23 3990 140 0 258 164.6 0 223 04-21-23 4010 164.3 257 18,244 144.3 100 17,166 05-19-23 3990 200.7 210 30 169.1 210 52 05-19-23 4010 186.1 303 3,552 279.2 2 3,965 06-16-23 3990 223.3 1 16 178.8 1 1 06-16-23 4010 152.9 0 46 183 1,665 42,159 12-15-23 3975 361 100 2,555 250.1 32 2,438 12-15-23 4025 349.3 0 2,416 268.2 4 2,149 OPTIONS ON INTEREST RATE FUTURES Underlying Asset: March 2023 30-Year Treasury Bond Future Prior Settle: 130'02 Expiration Strike Price Calls Puts Last Volume Prior Settle Last Volume Prior Settle February 23 128 2'33 756 3'08 0'36 4,465 0'30 February 23 129 1'61 1,110 2'24 0'56 2,034 0'46 February 23 131 0'55 1,047 1'12 1'49 530 1'34 February 23 132 0'35 1,205 0'50 2'27 19 2'08 March 23 126 5'40 23 5'25 0'56 5,840 0'48 March 23 128 3'45 358 3'57 1'27 2,365 1'16 March 23 132 1'27 1,082 1'44 2'55 6 3'02 March 23 133 1'06 2,614 1'20 3'49 5 3'41 OPTIONS ON INTEREST RATE FUTURES Underlying Asset: March 2023 10-Year Treasury Note Future Prior Settle: 114'24 Expiration Strike Price Calls Puts Last Volume Prior Settle Last Volume Prior Settle February 23 114 1'19 5,951 1'30 0'21 13,884 0'15 February 23 114.5 0'52 1,799 1'07 0'33 6,483 0'24 February 23 115 0'35 12,718 0'50 0'46 11,649 0'35 February 23 115.5 0'21 6,395 0'33 0'52 43 0'50 March 23 112.5 2'43 323 3'00 0'23 5,014 0'18 March 23 113 2'33 1,324 2'38 0'29 16,052 0'24 March 23 115 1'03 7,588 1'16 1'12 10,194 1'01 March 23 115.5 0'51 4,140 1'00 1'24 2,897 1'17

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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TABLE 10-6 Option Quotes, January 13, 2023

Expiration	Strike Price	Calls	Puts

Underlying Asset: S&P 500 Index (SPX)	Closing Value: 3,999.09
Last	Volume	Open Interest	Last	Volume	Open Interest
04-21-23	3990	140	0	258	164.6	0	223
04-21-23	4010	164.3	257	18,244	144.3	100	17,166
05-19-23	3990	200.7	210	30	169.1	210	52
05-19-23	4010	186.1	303	3,552	279.2	2	3,965
06-16-23	3990	223.3	1	16	178.8	1	1
06-16-23	4010	152.9	0	46	183	1,665	42,159
12-15-23	3975	361	100	2,555	250.1	32	2,438
12-15-23	4025	349.3	0	2,416	268.2	4	2,149

Expiration	Strike Price	Calls	Puts
OPTIONS ON INTEREST RATE FUTURES
Underlying Asset: March 2023 30-Year Treasury Bond Future	Prior Settle: 130'02
Last	Volume	Prior Settle	Last	Volume	Prior Settle
February 23	128	2'33	756	3'08	0'36	4,465	0'30
February 23	129	1'61	1,110	2'24	0'56	2,034	0'46
February 23	131	0'55	1,047	1'12	1'49	530	1'34
February 23	132	0'35	1,205	0'50	2'27	19	2'08
March 23	126	5'40	23	5'25	0'56	5,840	0'48
March 23	128	3'45	358	3'57	1'27	2,365	1'16
March 23	132	1'27	1,082	1'44	2'55	6	3'02
March 23	133	1'06	2,614	1'20	3'49	5	3'41

Expiration	Strike Price	Calls	Puts
OPTIONS ON INTEREST RATE FUTURES
Underlying Asset: March 2023 10-Year Treasury Note Future	Prior Settle: 114'24
Last	Volume	Prior Settle	Last	Volume	Prior Settle
February 23	114	1'19	5,951	1'30	0'21	13,884	0'15
February 23	114.5	0'52	1,799	1'07	0'33	6,483	0'24
February 23	115	0'35	12,718	0'50	0'46	11,649	0'35
February 23	115.5	0'21	6,395	0'33	0'52	43	0'50
March 23	112.5	2'43	323	3'00	0'23	5,014	0'18
March 23	113	2'33	1,324	2'38	0'29	16,052	0'24
March 23	115	1'03	7,588	1'16	1'12	10,194	1'01
March 23	115.5	0'51	4,140	1'00	1'24	2,897	1'17

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