1 1. An investor bought an IBM stock put option that expired in April, with an exercise price of 100 and an option fee of $8. Then, in the following two cases, the return of investors on the maturity date is () in turn.

(1) The stock price at maturity is $65,438+010;

(2) The stock price at maturity is $95.

When the stock price exceeds 100, the put option is no longer an option.

(1) No right, in the case of holding shares: profit =110-100-8 = USD 2 per share; In the case of pure option purchase: profit =-8 dollars per share;

(2) Exercise, profit = 100-95-8=-3 USD per share.