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Business, 03.07.2020 23:01 bm42400

A collar is established by buying a share of stock for $54, buying a six-month put option with exercise price $47, and writing a six-month call option with exercise price $61. Based on the volatility of the stock, you calculate that for an exercise price of $47 and maturity of six months, N(d1)= 0.6555. What will be the gain or loss on the collar if the stock price increases by $1? (Input the amount as a positive value. Round your answer to 3 decimal places.)

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