Finance Related

Step 1:

Buying (Long) 1 Sep call 75.50 when the underlying instrument Sep crude futures @ 75.
Also, lets say, I paid a premium of 960$.

Step 2:

Let’s assume after few hours after my entering into long position, underlying instrument (i.e. Sep crude futures is trading at 80).

So, I decided to get out of my long Sep call 75.50 position

Step 3:

How much will be my profit? Can you please breakdown numbers as simple as possible regarding how you calculated it?

Thanks.

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