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Upward Bound Yo Lo Se End of Class Review
Quiz by Ellen Duckworth
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Cohesion and Adhesion Water molecules stick to each other as a result of hydrogen bond- ing. An attractive force that holds molecules of a single substance together is known as cohesion. Cohesion due to hydrogen bonding between water molecules contributes to the upward movement of water from plant roots to their leaves. Related to cohesion is the surface tension of water. The cohe- sive forces in water resulting from hydrogen bonds cause the mol- ecules at the surface of water to be pulled downward into the liquid. As a result, water acts as if it has a thin “skin” on its sur- face. You can observe water’s surface tension by slightly overfill- ing a drinking glass with water. The water will appear to bulge above the rim of the glass. Surface tension also enables small crea- tures such as spiders and water-striders to run on water without breaking the surface. Adhesion is the attractive force between two particles of differ- ent substances, such as water molecules and glass molecules. A related property is capillarity (KAP-uh-LER-i-tee), which is the attrac- tion between molecules that results in the rise of the surface of a liquid when in contact with a solid. Together, the forces of adhe- sion, cohesion, and capillarity help water rise through narrow tubes against the force of gravity. Figure 2-11 shows cohesion and adhesion in the water-conducting tubes in the stem of a flower. Temperature Moderation Water has a high heat capacity, which means that water can absorb or release relatively large amounts of energy in the form of heat with only a slight change in temperature. This property of water is related to hydrogen bonding. Energy must be absorbed to break hydrogen bonds, and energy is released as heat when hydrogen bonds form. The energy that water initially absorbs breaks hydro- gen bonds between molecules. Only after these hydrogen bonds are broken does the energy begin to increase the motion of the water molecules, which raises the temperature of the water. When the temperature of water drops, hydrogen bonds reform, which releases a large amount of energy in the form of heat. Therefore, during a hot summer day, water can absorb a large quantity of energy from the sun and can cool the air without a large increase in the water’s temperature. At night, the gradually cooling water warms the air. In this way, the Earth’s oceans stabilize global temperatures enough to allow life to exist. Water’s high heat capac- ity also allows organisms to keep cells at an even temperature despite temperature changes in the environment. As a liquid evaporates, the surface of the liquid that remains behind cools down. A relatively large amount of energy is absorbed by water during evaporation, which significantly cools the surface of the remaining liquid. Evaporative cooling prevents organisms that live on land from overheating. For example, the evaporation of sweat from a person’s skin releases body heat and prevents over- heating on a hot day or during strenuous activity. Adhesion Cohesion Hydrogen bonds Cohesion, adhesion, and capillarity contribute to the upward movement of water from the roots of plants. FIGURE 2–11 www.scilinks.org Topic: Hydrogen Bonding Keyword: HM60777 mb06se_cols03.qxd 5/18/07 10:47 AM Page 41 42 CHAPTER 2 Density of Ice Unlike most solids, which are denser than their liquids, solid water is less dense than liquid water. This property is due to the shape of the water molecule and hydrogen bonding. The angle between the hydrogen atoms is quite wide. So, when water forms solid ice, the angles in the molecules cause ice crystals to have large amounts of open space, as shown in Figure 2-12. This open space lattice structure causes ice to have a low density. Because ice floats on water, bodies of water such as ponds and lakes freeze from the top down and not the bottom up. Ice insulates the water below from the cold air, which allows fish and other aquatic crea- tures to survive under the icy surface.LAYERS (STRATA) OF THE EPIDERMIS Stratum Basale Single layer - cuboidal or columnar Mitotic stem cells Contain keratin filaments - as cells progress upwards, the amount and type of keratin filaments increase Basal cell carcinoma (rarely lethal) found here. Stratum Spinosum (usually the thickest) Polyhedral cells with central nucleus Synthesize keratin filaments which form bundles called tonofibrils; extend into spines Cells bound together by cytoplasmic spines (and desmosomes) - maintain cohesion and resist effects of abrasion Mitotic stem cells in deepest layer Squamous cell carcinoma develops here. Also, rarely lethal. ** stratum germinativum- sometimes reference for the basale layer and deepest layer of spinosum together actively dividing to provide new cells to replenish lost skin from normal shedding. stratum Granulosum -undergoes keratinization 3-5 layers of flattened cells Cells filled with coarse basophilic keratohyaline granules (filaggrin) Help pack keratin filaments together into larger structures Characteristic feature: Cells filled with lamellar granules Granules release contents (lipid) into intercellular space which envelop the cells Acts as a barrier against water loss from the skin Both types of granules create a seal (barrier) against foreign materials Cells begin process of apoptosis Transition area between deeper layers of metabolically active cells and dead cells of superficial layersWhat is the domain of the quadratic function representing the height, h, in meters, of a ball thrown upward from the ground at an initial velocity of 20 m/s and an initial height of 2 m given by the equation , where t is the time in seconds after the ball is thrown?Topography is another factor that affects the climate of a certain place. One of the topographic features of an area is mountain. Mountainous areas greatly affect the amount of precipitation in a certain region. The area in which the wind blows is called the windward side. Here, the wind is blocked by the mountain, forcing it to move upward. As it moves up, the water vapor condenses and forms clouds. This will result in precipitation on the windward side. The air moves down towards the opposite region called leeward side. The cold air mass starts to absorb heat and becomes warm and dry. As a result, the area near the leeward side becomes dry and has less precipitation. The dry region on the leeward side is called rain shadow. Vegetation in this region includes desert plants and grassland. You have now identified some factors that affect climate. The next activity will help you deepen your understanding about climate.Singapore, a city-state that imports most of its food from other countries, started experimenting with vertical farming to scale up local food production as early as 2009. Having limited land but a large population, Singapore has expanded upward by building high-rise “farm walls,” which allow plants to grow up, rather than across the land. With a population of 23 million, Taiwan should follow Singapore’s example and develop vertical farming because this farming method can address issues such as limited land, water, and agricultural workers. 2 First, the rainwater-driven rotary system in vertical farms makes better use of land and, therefore, may help deal with the farmland issue in Taiwan. Taiwan has lost a lot of agricultural land to industrial and domestic use. This land issue can be addressed by the rotary system, which allows farmers to move racks of plants—one by one—as high as nine meters up in the air to get enough sunlight. Each vertical farm in Singapore has more than 20 racks of rotating plant-growing containers, providing an efficient way to make the most of limited land space. 3 Second, aside from the efficient use of land, the rotary system helps save water, which can prevent a lack of water during water rationing. Despite the fact that Taiwan has a lot more annual rainfall than the world average, much of it quickly flows down steep mountains into the sea, which makes collecting rainwater difficult. In vertical farms, plants are watered by recycled rainwater precisely where they need to be when the racks are rotated down to the micro-sprinklers. Singapore’s urban farming has proved that this sustainable irrigation method allows plants to be grown with only 5% of the water used in traditional agriculture. 4 Third, the operation of vertical farms relies greatly on machines and thus may ease the problem of having a declining number of agricultural workers. Low pay, long hours, and tough working conditions on traditional farms mean most young people would rather choose other careers, which results in an age gap in agriculture with many more older workers than younger ones. Such a negative impact could be reduced by the highly-computerized work on vertical farms. Mostly operated by machines, the work on vertical farms is lighter. As a result, fewer workers are needed on vertical farms. 5 Given these points, vertical farming appears to be the perfect solution for Taiwan, and we are technologically prepared for this new farming method. One biotechnology company in Taiwan has been working with a Danish partner since 2020, and they have successfully run a vertical farm in Copenhagen. If we can build more vertical farms in Taiwan, many agricultural issues can be dealt with, and city citizens may be able to start growing and harvesting food sustainably at the touch of a button.Called igneous rock. Magma is extremely hot-between 700° and 1,300° Celsius (1,292° and 2,372° Fahrenheit). This heat makes magma a very fluid and dynamic substance, able to create new landforms and different environments. engage physical and chemical transformations in a variety of How Magma Forms EX a alamy alam Samy my Earth is divided into three general layers. The core is the superheated center, the mantle is the thick, middle layer, and the crust is the top layer on which we live. Magma originates in the lower part of the Earth's crust and in the upper portion of the mantle. Most of the mantle and crust are solid, so the presence of magma is crucial to understanding the geology and morphology of the mantle. Differences in temperature, pressure, formations in the mantle and crust cause magma to form in different ways. and structural Decompression Melting Decompression melting involves the upward movement of Earth's mostly-solid mantle. This hot material rises to an area of lower pressure through the process of convection. Areas of lower pressure always have a lower melting point than areas of high pressure. This reduction in overlying 10 Based on the provided sources, here is a comprehensive extraction of the information regarding the water cycle, energy transfer, and Earth's wind systems, organized into key points: The Water Cycle and Its Reservoirs • Definition: The water cycle is the continuous movement of water among various reservoirs on Earth. • Water Reservoirs: These are storage locations for water and include: ◦ Oceans, seas, and lakes. ◦ Rivers, glaciers, soil, and rocks. ◦ The atmosphere and living organisms. • Total Volume: The total amount of water on Earth does not change, even when it changes state, because it is constantly being replaced or recycled through the cycle. Main Processes and Energy Transfer The movement of water through the cycle is driven by energy (thermal energy from the Sun) and force (gravity and wind). • Energy Gain (Absorption): ◦ Melting: Water changes from a solid state (ice) to a liquid state and gains energy. ◦ Evaporation: Liquid water changes into a gas state (water vapor) by gaining thermal energy. ◦ Transpiration: A specialized type of evaporation occurring in plants where water vapor is released through tiny holes in leaves called stomata. Approximately 10% of water vapor in the air comes from transpiration. • Energy Loss (Release): ◦ Condensation: Water vapor (gas) cools down and changes back into liquid water, releasing energy. ◦ Freezing: Liquid water changes into a solid state (ice) and loses energy. • Other Key Steps: ◦ Precipitation: Water falls back to Earth as rain, snow, sleet, or hail (snow pellets). ◦ Runoff: Water flows over Earth's surface into streams, rivers, and eventually larger bodies of water like oceans. ◦ Collection: Rainwater is collected in different water bodies to start the cycle again. Forces Driving Water Movement • Gravity: The main force that pulls water downward. It is responsible for: ◦ Bringing precipitation (rain and snow) from clouds to the surface. ◦ Moving ice in glaciers from higher to lower elevations. ◦ Causing liquid water to flow downhill into rivers and seas. ◦ Leakage: Pulling liquid water down into the ground to reach groundwater reservoirs. • Wind: Another force that affects water movement and transports water to different locations on Earth. Atmospheric Processes • Cloud Formation: Water vapor attaches to particles such as dust or smoke in the air and condenses into tiny droplets. When millions of these droplets join, they become heavy and fall as rain. • Convection: The transfer of heat in liquids and gases. ◦ Warm air/liquid: Becomes less dense, lighter, and rises upward. ◦ Cold air/liquid: Is more dense, heavier, and moves downward to replace the warm fluid. ◦ This process leads to convection currents, which help determine regional climates and drive wind and ocean currents. Solar Radiation and Climate The amount of solar energy reaching Earth differs from place to place, which affects the weather: • Hottest Regions (Equator): Sun rays fall perpendicular (vertical). Heat is concentrated on a small area, making the weather hot. • Moderate Regions: Sun rays fall semi-inclined. Heat is distributed over a larger area, making the weather warm. • Coolest Regions (Poles): Sun rays fall very slanted (inclined). Heat is spread over a very large area, making the weather very cold. Earth's Wind System • Wind Formation: Wind is generated when warm air (heated by the Sun) rises and is replaced by cooler air flowing from nearby areas. • Factors Affecting Wind: The amount of solar radiation and the rotation of Earth determine global wind directions. • Global Wind Cycle: Unequal heating between the equator and the poles generates a constant wind system. Warm air rises at the equator and moves toward the poles, while cold air from the poles moves toward the equator. • Importance: If there were no wind, the equator would become extremely hot, the poles would freeze solid, and many ecosystems would disappear. Practical Examples • Turkey’s Salt Lake: High evaporation in the summer can turn this large lake into a small puddle or dry it up completely. It is a critical site for flamingos, which migrate there to breed and feed on algae in the shallow, warm water.Long Call Option Trading Strategy: Learn the Basics LONG CALL SUMMARY Purchasing a call option is a bullish strategy that gives the buyer the right, but not the obligation, to buy 100 shares of the underlying asset at a specified strike price on or before the expiration date. This strategy is typically employed when an investor believes that the price of the underlying asset will increase in the future. The value of a call option is influenced by several factors, including the underlying asset's price, the strike price, the time to expiration, and implied volatility. As the price of the underlying asset increases and approaches or breaches the long call's strike price, the option's value will appreciate. This is because the option holder has the right to buy the underlying asset at a lower price than the current market price, resulting in a potential profit. Out-of-the-money (OTM) calls have a strike price that is higher than the current market price of the underlying asset. These options are typically cheaper than in-the-money (ITM) calls, which have a strike price lower than the current market price. ITM calls have intrinsic value, which is the difference between the strike price and the current market price, and extrinsic value, which is the additional premium paid for the option's time value. Extrinsic value decays over time as the option approaches expiration, and this can cause the option to lose value, especially if the underlying asset does not move towards the strike price. LONG CALL OPTION Purchasing a call option grants you the privilege, but not the responsibility, to buy 100 shares of the underlying asset at the specified strike price on or before the expiration date. This option grants you the flexibility to capitalize on potential price increases of the underlying asset. The value of a call option is positively correlated with the price of the underlying asset. As the price of the stock or ETF rises and approaches your strike price, the value of your call option increases. This is because the difference between the market price and the strike price widens, giving you a greater potential profit. This characteristic makes call options suitable for bullish strategies where investors anticipate price increases. Conversely, the value of a call option diminishes when the price of the underlying asset drops or remains constant. Time decay, which refers to the gradual loss of an option's value as its expiration date approaches, also contributes to the depreciation of call options. Over time, the intrinsic value of the option, which represents the difference between the strike price and the underlying asset's market price, decreases as the option nears expiration. Additionally, if the price of the underlying asset remains below the strike price, the option may expire worthless, resulting in a total loss of the premium paid. Understanding these dynamics is crucial when trading call options. It allows you to make informed decisions about when to enter and exit positions, taking into account factors such as the underlying asset's price movements, time decay, and market sentiment. Buying call options can provide an alternative strategy to gain long exposure to a stock's price movement without the need for purchasing shares directly. This approach, known as a long call position, offers the potential advantage of lower capital outlay compared to buying shares outright. However, it's crucial to understand the concept of time decay, which significantly impacts the value of long call options. Time decay refers to the gradual decrease in the value of an option as time passes. This phenomenon occurs due to two primary factors: theta and vega. Theta measures the rate at which an option's value decays over time, while vega measures the sensitivity of an option's price to changes in implied volatility. As the expiration date of the call option approaches, both theta and vega work together to erode the option's value. Consequently, to offset the impact of time decay, the underlying stock price must rise at a greater velocity towards the call option's strike price. This is because the intrinsic value of a call option, which represents the difference between the strike price and the underlying stock's current market price, increases as the stock price moves higher. Another important consideration when evaluating call options is the distinction between out-of-the-money (OTM) and in-the-money (ITM) calls. OTM calls have a strike price higher than the current market price of the underlying stock, while ITM calls have a strike price lower than the current market price. OTM calls are typically less expensive than ITM calls because their value is composed entirely of extrinsic value. Extrinsic value refers to the portion of an option's price that is not attributable to its intrinsic value. ITM calls, on the other hand, have both intrinsic and extrinsic value, resulting in a higher cost per contract. As time relentlessly marches forward, the value of call options undergoes a transformation. The extrinsic value, which represents the premium paid for the potential of future price movements, steadily diminishes as expiration approaches. This decay is universal, affecting all call options regardless of their initial strike price or distance from the underlying asset's current price. However, amidst this gradual erosion of extrinsic value, ITM (in-the-money) call options stand as an exception. These options retain their intrinsic value at expiration, which is the difference between the strike price and the underlying asset's price. This characteristic sets ITM call options apart from their OTM (out-of-the-money) counterparts, whose extrinsic value decays entirely to zero near or at expiration. The distinction between ITM and OTM call options underscores the significance of carefully considering both the time frame and strike price when making investment decisions. Traders seeking to maximize their potential gains through call options must be mindful of the impending decay of extrinsic value as expiration draws near. For long ITM call options, the ideal scenario is for the underlying asset to exhibit a significant upward movement. Such a price increase would enhance the intrinsic value of the option, making it worth more at expiration than the initial purchase price. This scenario holds true for OTM call options as well, as they require the underlying asset to move ITM at expiration to possess any value. Prior to expiration, both OTM and ITM call options have the potential to gain a combination of extrinsic and intrinsic value if the stock exhibits a rapid upward trajectory. This dynamic underscores the importance of monitoring market conditions and adjusting investment strategies accordingly. Understanding the Interplay of Time, Strike Price, and Option Value in Call Option Trading: In the realm of call option trading, comprehending the intricate interplay between time, strike price, and option value is paramount to success. These three factors collectively shape the dynamics of call option contracts, allowing traders to make informed decisions and capitalize on market opportunities. Time (Days to Expiration): Time, measured in days until expiration, is a crucial element in call option trading. As expiration approaches, the value of a call option is directly influenced by the time premium. The closer an option gets to expiration, the less time value it holds. This time decay accelerates in the final days leading up to expiration. Therefore, traders must carefully consider the time factor when selecting their expiration dates. Strike Price: The strike price represents the predetermined price at which the underlying asset can be bought (in the case of a call option) or sold (in the case of a put option). When choosing a strike price, traders must assess the current market price of the underlying asset and make an educated guess about its future direction. ITM (In-the-Money) call options are those with a strike price below the current market price, while OTM (Out-of-the-Money) call options have a strike price above the current market price. Option Value: Option value refers to the premium paid by the buyer of an option contract to the seller. This premium comprises two components: intrinsic value and time value. Intrinsic value is the difference between the strike price and the underlying asset's current market price. Time value, as mentioned earlier, is the premium paid for the remaining time until expiration. Auto-Exercise and Expiration Scenarios: Auto-Exercise: Long call options that expire ITM by $0.01 or more will be automatically exercised. This means that the buyer of the call option has the right to purchase the underlying asset at the strike price. If the investor holds only a long call, this will result in 100 long shares per contract purchased at the call option's strike price. On the other hand, investors holding the corresponding short shares will cover or buy shares at the call option's strike price. Expiration Worthless: Any long call options that expire OTM will expire worthless. In this scenario, the investor loses the entire premium paid for the contract, resulting in a maximum loss. Understanding these concepts is instrumental in developing effective call option trading strategies. By carefully considering the interplay between time, strike price, and option value, traders can position themselves to make profitable trades and minimize potential losses. PROFIT & LOSS DIAGRAM OF A LONG OTM CALL A long OTM call option can be profitable if the current market value of the option exceeds the price paid to purchase it. This can occur in two main scenarios: Stock Price Surpasses Strike Price: If the underlying asset's price rises above the strike price of the call option by more than the premium paid for the option, the call option becomes profitable. This is because the intrinsic value of the call option (the difference between the strike price and the underlying asset's price) becomes positive, and the call option can be exercised to purchase the underlying asset at a price below the market price. OTM Call Moves Closer to Underlying Asset Price: Even if the underlying asset's price does not reach the strike price, a long OTM call can still be profitable if the option's price increases. This can happen when there is a quick rally in the underlying asset's price, causing the call option's price to increase as well, even if the strike price is not reached. This is because the time value of the call option increases as the expiration date approaches, and the call option becomes more likely to be in the money. However, it's important to note that long OTM call options can also result in losses if the underlying asset's price does not surpass the breakeven point. The breakeven point is the price at which the call option's intrinsic value becomes equal to the purchase price of the option. If the underlying asset's price remains below the breakeven point until expiration, the call option will expire worthless, and the investor will lose the entire amount paid for the option. The maximum profit potential of a long OTM call option indeed has no theoretical limit, as a stock's price can theoretically rise indefinitely. This means that if the underlying stock price increases significantly, the call option holder can potentially reap substantial profits by exercising the option and buying the stock at the predetermined strike price. On the downside, the maximum loss on a long call option is limited to the premium paid for the option. This premium represents the total amount invested in the option contract and acts as a protective barrier against further losses. If the stock price declines or stays below the strike price at expiration, the option will expire worthless, and the investor will lose the entire premium paid. The flattened red loss zone in the diagram illustrates this limited loss potential. This zone represents the range of stock prices below the strike price at expiration where the option holder will lose money. The loss amount decreases as the stock price approaches the strike price and becomes zero when the stock price equals the strike price. Beyond the strike price, the option holder starts to make a profit. It's important to note that while the maximum profit potential is theoretically unlimited, it is highly unlikely for a stock price to rise dramatically within the short timeframe of an OTM option's expiration period. Therefore, while the potential rewards can be significant, the probability of achieving them is relatively low. PROFIT & LOSS DIAGRAM OF A LONG ITM CALL ITM (In-the-Money) options have a unique characteristic where the price of their intrinsic value directly correlates with the underlying asset's price. This means that for every one point movement in the underlying asset's price, the ITM option's intrinsic value moves by the same amount. While purchasing an ITM option provides immediate intrinsic value, it does not guarantee profitability upon execution. Similar to buying an OTM (Out-of-the-Money) call option, the purchase price of an ITM call must increase for it to be profitable. This requires the stock price to move further above the call strike price. This relationship is visually represented in the diagram, where the red and green zones converge on the x-axis. The maximum potential loss on a long call option is limited to the debit paid for the option, which is represented by the flattened red area in the diagram. This means that the most an investor can lose on a long call is the premium paid for the option, regardless of how far the underlying asset's price moves below the strike price. Understanding the price dynamics and potential risks associated with ITM options is crucial for traders and investors. While ITM options offer immediate intrinsic value, careful analysis and consideration of market conditions are necessary to determine their potential profitability. EXAMPLE OF A LONG OTM CALL OPTION XYZ currently trading @ $45 Buy to Open +1 XYZ 50-strike call @ $4 debit Cost: $4 debit ($400 total, ($4 x 100 shares)) Time Decay Affect Works against the option’s value Max Profit Theoretically unlimited Max Loss Debit paid per contract ($400) Breakeven Price (at expiration) Strike price + debit paid ($54) Account Type Required Cash, Margin, and IRA EXAMPLE OF A LONG ITM CALL OPTION XYZ currently trading @ $45 Buy to Open +1 XYZ 40-strike call @ $7 debit ($5 intrinsic value + $2 extrinsic value) Cost: $7 debit ($700 total) Time Decay Affect Works against the option’s value Max Profit Theoretically unlimited Max Loss Debit paid per contract ($700) Breakeven Price (at expiration) Strike price + debit paid ($47) Account Type Required Cash, Margin, and IRA