The following price quotations were taken from the Wall Street Journal. $\begin{array}{rrr}\text{ Stock Price}& \text{ Strike }& \text{ February }\\ & \text{ Price }& \\ 917/8& 85& 73/8\\ 917/8& 90& 31/8\\ 917/8& 95& 5/8\end{array}$ The premium on one February 90 call contract is

A) $3.1250.
B) $318.00.
C) $312.50.
D) $58.00.

Premium

An amount paid in excess of the face value or regular price, often associated with insurance costs, bonds above par value, or superior quality.

Strike Price

The predetermined price at which the holder of an options contract can buy (call) or sell (put) the underlying asset or security.

Stock Price

The cost of purchasing a share of a company's stock, which fluctuates based on supply and demand in the market.