Compare the profit/loss situations between going long on (i.e., owning) a stock and having a covered call strategy under the three market scenarios below. a. Stock price increases (call is exercised...

Compare the profit/loss situations between going long on (i.e., owning) a stock and having a covered call strategy under the three market scenarios below. a. Stock price increases (call is exercised and stock shares are sold at strike price) b. Stock price declines (call expires worthless and shares are owned) c. Stock price unchanged (call expires worthless and shares are owned).